Walleye Capital LLC bought a new position in shares of PROG Holdings, Inc. (NYSE:PRG – Get Rating) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 25,153 shares of the company's stock, valued at approximately $724,000.
A number of other hedge funds have also modified their holdings of the business. Vulcan Value Partners LLC grew its position in shares of PROG by 34.6% during the fourth quarter. Vulcan Value Partners LLC now owns 2,063,667 shares of the company's stock worth $93,092,000 after acquiring an additional 530,587 shares during the last quarter. State Street Corp grew its position in shares of PROG by 2.6% during the first quarter. State Street Corp now owns 1,788,897 shares of the company's stock worth $51,467,000 after acquiring an additional 45,946 shares during the last quarter. Diamond Hill Capital Management Inc. grew its position in PROG by 8.2% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 1,699,043 shares of the company's stock valued at $48,881,000 after buying an additional 128,515 shares during the last quarter. Goldman Sachs Group Inc. grew its position in PROG by 395.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 826,050 shares of the company's stock valued at $23,765,000 after buying an additional 659,312 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in PROG in the 1st quarter valued at $20,139,000. 96.45% of the stock is currently owned by hedge funds and other institutional investors.
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Insiders Place Their Bets
In related news, insider Curtis Linn Doman bought 50,000 shares of the firm's stock in a transaction on Wednesday, August 3rd. The shares were bought at an average cost of $19.25 per share, for a total transaction of $962,500.00. Following the transaction, the insider now owns 72,000 shares of the company's stock, valued at $1,386,000. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Brian Garner purchased 2,500 shares of the business's stock in a transaction dated Wednesday, August 3rd. The stock was acquired at an average price of $19.39 per share, with a total value of $48,475.00. Following the purchase, the chief financial officer now directly owns 38,523 shares of the company's stock, valued at approximately $746,960.97. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Curtis Linn Doman purchased 50,000 shares of the business's stock in a transaction dated Wednesday, August 3rd. The shares were purchased at an average cost of $19.25 per share, with a total value of $962,500.00. Following the purchase, the insider now directly owns 72,000 shares in the company, valued at $1,386,000. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 53,700 shares of company stock worth $1,034,243. Corporate insiders own 1.74% of the company's stock.
Analysts Set New Price Targets
PRG has been the topic of a number of analyst reports. Stephens set a $21.00 price objective on shares of PROG in a research report on Monday, June 20th. Raymond James lowered shares of PROG from an "outperform" rating to a "market perform" rating in a research report on Friday, June 17th. TheStreet lowered shares of PROG from a "c-" rating to a "d" rating in a research report on Thursday, July 28th. Finally, KeyCorp lowered their price objective on shares of PROG from $40.00 to $36.00 and set an "overweight" rating on the stock in a research report on Thursday, July 28th.
PROG Price Performance
Shares of NYSE PRG opened at $18.70 on Wednesday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 8.10 and a beta of 1.97. PROG Holdings, Inc. has a one year low of $15.62 and a one year high of $50.79. The company's fifty day moving average is $19.28 and its two-hundred day moving average is $23.31. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.26 and a current ratio of 3.26.
PROG Profile
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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.
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