Insider Buying: PROG Holdings, Inc. (NYSE:PRG) Director Acquires 10,000 Shares of Stock

PROG Holdings, Inc. (NYSE:PRG) Director Douglas C. Curling acquired 10,000 shares of the stock in a transaction on Friday, February 21st. The stock was purchased at an average cost of $29.88 per share, with a total value of $298,800.00. Following the transaction, the director now directly owns 45,913 shares of the company’s stock, valued at $1,371,880.44. This represents a 27.85 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

PROG Stock Up 2.4 %

PRG stock opened at $29.16 on Wednesday. PROG Holdings, Inc. has a twelve month low of $28.43 and a twelve month high of $50.28. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $1.21 billion, a P/E ratio of 6.42 and a beta of 2.18. The firm has a 50 day simple moving average of $41.14 and a 200-day simple moving average of $44.69.

PROG (NYSE:PRG) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The business had revenue of $623.30 million during the quarter, compared to the consensus estimate of $612.67 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.72 earnings per share. On average, equities research analysts predict that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have issued reports on PRG shares. Stephens reaffirmed an “overweight” rating and issued a $60.00 price objective on shares of PROG in a research report on Thursday, January 2nd. TD Cowen raised shares of PROG to a “strong-buy” rating in a research report on Friday, November 29th. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $53.83.

Hedge Funds Weigh In On PROG

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in PROG by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 4,937,208 shares of the company’s stock worth $208,646,000 after purchasing an additional 76,810 shares during the period. FMR LLC boosted its holdings in PROG by 5.5% in the fourth quarter. FMR LLC now owns 2,564,441 shares of the company’s stock worth $108,373,000 after purchasing an additional 134,123 shares during the period. State Street Corp boosted its holdings in PROG by 6.9% in the third quarter. State Street Corp now owns 1,776,377 shares of the company’s stock worth $86,137,000 after purchasing an additional 114,498 shares during the period. Allianz Asset Management GmbH boosted its holdings in PROG by 36.8% in the fourth quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company’s stock worth $32,951,000 after purchasing an additional 209,805 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in PROG by 1.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 562,539 shares of the company’s stock worth $23,773,000 after purchasing an additional 9,162 shares during the period. Institutional investors and hedge funds own 97.92% of the company’s stock.

PROG Company Profile

PROG Holdings, Inc (NYSE:PRG) is a financial technology holding company based in Salt Lake City, Utah with three business segments: Progressive Leasing, which offers lease-to-own transactions primarily to credit-challenged consumers through e-commerce and point-of-sale retail partners, via online, mobile, and in-store solutions; Vive Financial, which provides consumers who may not qualify for traditional prime lending with a variety of second-look, revolving credit products through private label and branded credit cards; and Four Technologies, which provides consumers of all credit backgrounds Buy Now, Pay Later (BNPL) options through four interest-free installments via its platform, Four.