Insider Buying: PROG Holdings, Inc. (NYSE:PRG) Director Purchases $298,800.00 in Stock

PROG Holdings, Inc. (NYSE:PRG) Director Douglas C. Curling bought 10,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was bought at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the transaction, the director now owns 45,913 shares of the company’s stock, valued at $1,371,880.44. The trade was a 27.85 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

PROG Price Performance

Shares of PROG stock traded down $0.84 on Monday, reaching $28.55. 763,882 shares of the stock were exchanged, compared to its average volume of 466,023. The firm’s 50 day moving average is $41.74 and its 200-day moving average is $44.85. The firm has a market cap of $1.19 billion, a PE ratio of 6.29 and a beta of 2.18. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24. PROG Holdings, Inc. has a one year low of $28.43 and a one year high of $50.28.

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 the consensus estimate of $0.77 by $0.03. The company had revenue of $623.30 million for the quarter, compared to analysts’ expectations of $612.67 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. The business’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.72 earnings per share. As a group, analysts anticipate that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

Institutional Investors Weigh In On PROG

Several large investors have recently modified their holdings of PRG. Financial Management Professionals Inc. bought a new stake in shares of PROG in the 3rd quarter valued at $33,000. Summit Securities Group LLC bought a new stake in shares of PROG during the fourth quarter worth about $38,000. Sterling Capital Management LLC raised its stake in shares of PROG by 765.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock worth $46,000 after purchasing an additional 957 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of PROG by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock valued at $51,000 after purchasing an additional 707 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of PROG by 248.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock worth $57,000 after buying an additional 977 shares during the last quarter. 97.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.