GAMMA Investing LLC Has $39,000 Stock Position in PROG Holdings, Inc. (NYSE:PRG)

GAMMA Investing LLC raised its stake in PROG Holdings, Inc. (NYSE:PRG) by 72.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 805 shares of the company’s stock after buying an additional 337 shares during the quarter. GAMMA Investing LLC’s holdings in PROG were worth $39,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Diversify Wealth Management LLC bought a new stake in shares of PROG during the second quarter valued at approximately $8,794,000. SG Capital Management LLC bought a new position in PROG in the 1st quarter valued at $5,932,000. Fourth Sail Capital LP bought a new position in PROG in the 2nd quarter valued at $5,500,000. Millennium Management LLC increased its stake in shares of PROG by 497.6% in the 2nd quarter. Millennium Management LLC now owns 160,896 shares of the company’s stock valued at $5,580,000 after buying an additional 133,972 shares during the period. Finally, Jupiter Asset Management Ltd. raised its position in shares of PROG by 83.6% during the first quarter. Jupiter Asset Management Ltd. now owns 260,713 shares of the company’s stock worth $8,979,000 after acquiring an additional 118,698 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company’s stock.

PROG Price Performance

PROG stock opened at $49.49 on Friday. The firm has a market capitalization of $2.14 billion, a P/E ratio of 20.20 and a beta of 2.11. The business has a 50-day moving average of $46.58 and a 200-day moving average of $39.34. The company has a current ratio of 3.87, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $50.28.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, July 24th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.70 by $0.22. The firm had revenue of $592.16 million during the quarter, compared to the consensus estimate of $573.23 million. PROG had a net margin of 4.57% and a return on equity of 26.30%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.92 earnings per share. On average, equities analysts anticipate that PROG Holdings, Inc. will post 3.34 EPS for the current year.

PROG Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were paid a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Tuesday, August 20th. PROG’s payout ratio is presently 19.59%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. KeyCorp raised their price target on PROG from $46.00 to $55.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Jefferies Financial Group lifted their price target on shares of PROG from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Tuesday, October 1st. TD Cowen boosted their price target on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Finally, Loop Capital raised shares of PROG from a “hold” rating to a “buy” rating and raised their price objective for the company from $41.00 to $55.00 in a research note on Monday, August 19th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, PROG presently has an average rating of “Moderate Buy” and an average price target of $50.40.

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.