102,671 Shares in PROG Holdings, Inc. (NYSE:PRG) Bought by Atom Investors LP

Atom Investors LP acquired a new stake in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The fund acquired 102,671 shares of the company's stock, valued at approximately $4,979,000. Atom Investors LP owned approximately 0.25% of PROG as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC grew its position in shares of PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company's stock worth $39,000 after purchasing an additional 337 shares in the last quarter. Diversified Trust Co grew its holdings in PROG by 7.1% during the 3rd quarter. Diversified Trust Co now owns 7,849 shares of the company's stock valued at $381,000 after buying an additional 520 shares in the last quarter. Inspire Advisors LLC grew its holdings in PROG by 4.2% during the 3rd quarter. Inspire Advisors LLC now owns 12,884 shares of the company's stock valued at $625,000 after buying an additional 525 shares in the last quarter. Whittier Trust Co. purchased a new position in shares of PROG in the third quarter worth $26,000. Finally, Financial Management Professionals Inc. purchased a new position in shares of PROG in the third quarter worth $33,000. 97.92% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CFO Brian Garner sold 5,000 shares of the business's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $49.29, for a total value of $246,450.00. Following the completion of the transaction, the chief financial officer now directly owns 107,720 shares of the company's stock, valued at approximately $5,309,518.80. The trade was a 4.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael Todd King sold 1,500 shares of the company's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $46.97, for a total value of $70,455.00. Following the sale, the insider now owns 37,017 shares of the company's stock, valued at $1,738,688.49. This trade represents a 3.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 119,207 shares of company stock worth $5,759,152. Company insiders own 2.74% of the company's stock.

PROG Trading Down 0.5 %

Shares of NYSE:PRG traded down $0.25 on Monday, hitting $48.41. 414,647 shares of the company's stock were exchanged, compared to its average volume of 408,740. The stock has a market capitalization of $2.01 billion, a price-to-earnings ratio of 13.49 and a beta of 2.11. PROG Holdings, Inc. has a 12 month low of $27.84 and a 12 month high of $50.28. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. The business's 50 day simple moving average is $47.15 and its two-hundred day simple moving average is $42.24.

PROG (NYSE:PRG - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.01. The business had revenue of $606.10 million for the quarter, compared to the consensus estimate of $601.86 million. PROG had a net margin of 6.55% and a return on equity of 24.56%. The company's revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 EPS. Analysts anticipate that PROG Holdings, Inc. will post 3.35 EPS for the current fiscal year.

PROG Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 3rd. Stockholders of record on Tuesday, November 19th will be given a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Tuesday, November 19th. PROG's payout ratio is 13.30%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Loop Capital upgraded shares of PROG from a "hold" rating to a "buy" rating and lifted their price target for the company from $41.00 to $55.00 in a report on Monday, August 19th. Stephens initiated coverage on PROG in a report on Wednesday, November 13th. They issued an "overweight" rating and a $60.00 target price on the stock. KeyCorp increased their price target on PROG from $46.00 to $55.00 and gave the company an "overweight" rating in a research note on Tuesday, September 10th. Jefferies Financial Group lifted their price objective on PROG from $50.00 to $58.00 and gave the stock a "buy" rating in a research note on Tuesday, October 1st. Finally, TD Cowen raised shares of PROG to a "strong-buy" rating in a report on Friday. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $53.83.

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.