PROG Holdings, Inc. (NYSE:PRG) Director Douglas C. Curling Purchases 10,000 Shares

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

PROG Price Performance

PRG stock opened at $28.55 on Tuesday. The firm has a 50 day simple moving average of $41.43 and a two-hundred day simple moving average of $44.77. The stock has a market cap of $1.19 billion, a PE ratio of 6.29 and a beta of 2.18. PROG Holdings, Inc. has a one year low of $28.43 and a one year high of $50.28. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34.

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

Analyst Upgrades and Downgrades

PRG has been the subject of several analyst reports. TD Cowen raised shares of PROG to a “strong-buy” rating in a report on Friday, November 29th. Stephens reissued an “overweight” rating and set a $60.00 price objective on shares of PROG in a research note on Thursday, January 2nd. One investment analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, PROG has a consensus rating of “Buy” and an average price target of $53.83.

Hedge Funds Weigh In On PROG

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. lifted its position in PROG by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 4,937,208 shares of the company’s stock worth $208,646,000 after buying an additional 76,810 shares during the last quarter. FMR LLC lifted its holdings in shares of PROG by 5.5% in the 4th quarter. FMR LLC now owns 2,564,441 shares of the company’s stock worth $108,373,000 after acquiring an additional 134,123 shares during the last quarter. State Street Corp boosted its stake in shares of PROG by 6.9% in the 3rd quarter. State Street Corp now owns 1,776,377 shares of the company’s stock valued at $86,137,000 after purchasing an additional 114,498 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of PROG by 36.8% during the 4th quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company’s stock valued at $32,951,000 after purchasing an additional 209,805 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its position in PROG by 1.7% in the 4th 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. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

About PROG

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.