GSA Capital Partners LLP Sells 40,773 Shares of PROG Holdings, Inc. (NYSE:PRG)

GSA Capital Partners LLP reduced its position in PROG Holdings, Inc. (NYSE:PRG) by 89.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,608 shares of the company’s stock after selling 40,773 shares during the period. GSA Capital Partners LLP’s holdings in PROG were worth $223,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of PRG. Whittier Trust Co. acquired a new position in PROG during the third quarter worth $26,000. Financial Management Professionals Inc. bought a new stake in shares of PROG during the third quarter worth about $33,000. GAMMA Investing LLC raised its holdings in shares of PROG by 72.0% in the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after acquiring an additional 337 shares during the last quarter. Point72 DIFC Ltd acquired a new stake in shares of PROG in the 2nd quarter worth about $47,000. Finally, DekaBank Deutsche Girozentrale bought a new position in PROG in the 1st quarter valued at about $59,000. Institutional investors and hedge funds own 97.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Raymond James raised PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective for the company in a report on Thursday, October 24th. KeyCorp upped their price target on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. Loop Capital raised PROG from a “hold” rating to a “buy” rating and increased their price target for the company from $41.00 to $55.00 in a research report on Monday, August 19th. Stephens began coverage on shares of PROG in a report on Wednesday, November 13th. They set an “overweight” rating and a $60.00 price objective on the stock. Finally, Jefferies Financial Group increased their target price on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $53.83.

PROG Stock Up 2.4 %

PRG stock opened at $47.43 on Monday. PROG Holdings, Inc. has a 1-year low of $26.39 and a 1-year high of $50.28. The stock has a market cap of $1.97 billion, a P/E ratio of 13.14 and a beta of 2.11. The stock’s fifty day simple moving average is $47.09 and its two-hundred day simple moving average is $41.78. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94.

PROG (NYSE:PRG) last posted its quarterly earnings results on Wednesday, October 23rd. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.01. The company had revenue of $606.10 million during the quarter, compared to analyst estimates of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 earnings per share. Analysts expect that PROG Holdings, Inc. will post 3.35 EPS for the current year.

PROG Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Investors of record on Tuesday, November 19th will be issued a $0.12 dividend. The ex-dividend date of this dividend is Tuesday, November 19th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.01%. PROG’s dividend payout ratio (DPR) is presently 13.30%.

Insider Activity at PROG

In other news, VP George M. Sewell sold 3,500 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $48.88, for a total value of $171,080.00. Following the transaction, the vice president now owns 12,639 shares of the company’s stock, valued at approximately $617,794.32. This represents a 21.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Michael Todd King sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $46.97, for a total transaction of $70,455.00. Following the completion of the sale, the insider now directly owns 37,017 shares in the company, valued at $1,738,688.49. This represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 119,207 shares of company stock worth $5,759,152. Insiders own 2.74% of the company’s stock.

PROG 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.