Douglas C. Curling Acquires 10,000 Shares of PROG Holdings, Inc. (NYSE:PRG) Stock

PROG Holdings, Inc. (NYSE:PRG) Director Douglas C. Curling acquired 10,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was acquired at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the purchase, the director now owns 45,913 shares in the company, valued at $1,371,880.44. The trade was a 27.85 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

PROG Price Performance

NYSE:PRG opened at $29.16 on Wednesday. The firm has a market cap of $1.21 billion, a price-to-earnings ratio of 6.42 and a beta of 2.18. 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’s 50-day moving average is $41.14 and its two-hundred day moving average is $44.69. PROG Holdings, Inc. has a 12-month low of $28.43 and a 12-month high of $50.28.

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

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PRG. Stephens reissued an “overweight” rating and issued a $60.00 price objective on shares of PROG in a research note on Thursday, January 2nd. TD Cowen raised shares of PROG to a “strong-buy” rating in a research note on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $53.83.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Stifel Financial Corp purchased a new position in shares of PROG during the 3rd quarter worth about $1,046,000. Moran Wealth Management LLC purchased a new position in shares of PROG during the 3rd quarter worth about $3,084,000. Atom Investors LP purchased a new position in shares of PROG during the 3rd quarter worth about $4,979,000. FMR LLC lifted its holdings in shares of PROG by 1.3% during the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after acquiring an additional 30,030 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of PROG during the 3rd quarter worth about $1,972,000. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

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.