Oberweis Asset Management Inc. Purchases 16,800 Shares of PROG Holdings, Inc. (NYSE:PRG)

Oberweis Asset Management Inc. lifted its position in PROG Holdings, Inc. (NYSE:PRG - Free Report) by 13.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 143,600 shares of the company's stock after purchasing an additional 16,800 shares during the period. Oberweis Asset Management Inc. owned about 0.35% of PROG worth $6,069,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Summit Securities Group LLC purchased a new position in shares of PROG in the fourth quarter valued at about $38,000. Sterling Capital Management LLC grew its stake in shares of PROG by 765.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company's stock worth $46,000 after purchasing an additional 957 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in PROG by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock valued at $51,000 after purchasing an additional 707 shares during the period. CIBC Private Wealth Group LLC raised its position in PROG by 248.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company's stock valued at $57,000 after purchasing an additional 977 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new stake in PROG in the 4th quarter worth approximately $68,000. 97.92% of the stock is owned by hedge funds and other institutional investors.

PROG Stock Up 0.9 %

Shares of PRG stock traded up $0.22 during trading hours on Monday, hitting $25.93. 549,727 shares of the company's stock traded hands, compared to its average volume of 453,619. The company has a quick ratio of 2.34, a current ratio of 5.24 and a debt-to-equity ratio of 0.99. The stock's fifty day simple moving average is $26.86 and its two-hundred day simple moving average is $38.44. PROG Holdings, Inc. has a 12-month low of $23.50 and a 12-month high of $50.28. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 5.71 and a beta of 1.96.

PROG (NYSE:PRG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.82 by $0.08. PROG had a return on equity of 24.25% and a net margin of 8.01%. The business had revenue of $684.09 million during the quarter, compared to analysts' expectations of $678.23 million. During the same quarter in the previous year, the business earned $0.91 earnings per share. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. On average, analysts expect that PROG Holdings, Inc. will post 3.45 EPS for the current year.

PROG Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 25th. Shareholders of record on Thursday, March 13th were issued a $0.13 dividend. The ex-dividend date was Thursday, March 13th. This is a boost from PROG's previous quarterly dividend of $0.12. This represents a $0.52 annualized dividend and a yield of 2.01%. PROG's payout ratio is 10.66%.

Insider Transactions at PROG

In other PROG news, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the stock in a transaction dated Wednesday, February 26th. The shares were purchased at an average cost of $28.01 per share, with a total value of $46,216.50. Following the completion of the acquisition, the director now directly owns 18,291 shares in the company, valued at $512,330.91. This trade represents a 9.92 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Douglas C. Curling acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were acquired at an average cost of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the transaction, the director now directly owns 45,913 shares of the company's stock, valued at $1,371,880.44. The trade was a 27.85 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 3.21% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Jefferies Financial Group downgraded PROG from a "buy" rating to a "hold" rating and decreased their target price for the company from $58.00 to $29.00 in a report on Wednesday, February 26th. Stephens reaffirmed an "overweight" rating and set a $60.00 target price on shares of PROG in a research note on Thursday, January 2nd. KeyCorp decreased their price target on shares of PROG from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Loop Capital cut their price objective on PROG from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $44.83.

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.