Wedge Capital Management L L P NC lowered its stake in shares of PROG Holdings, Inc. (NYSE:PRG – Free Report) by 24.4% in the third quarter, HoldingsChannel reports. The fund owned 73,417 shares of the company’s stock after selling 23,696 shares during the quarter. Wedge Capital Management L L P NC’s holdings in PROG were worth $3,560,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of PRG. GAMMA Investing LLC increased its position in 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 during the last quarter. Point72 DIFC Ltd acquired a new position in shares of PROG in the 2nd quarter valued at $47,000. DekaBank Deutsche Girozentrale purchased a new stake in shares of PROG during the 1st quarter valued at $59,000. Blue Trust Inc. increased its holdings in shares of PROG by 2,015.1% during the 2nd quarter. Blue Trust Inc. now owns 1,967 shares of the company’s stock worth $68,000 after buying an additional 1,874 shares during the last quarter. Finally, nVerses Capital LLC purchased a new position in shares of PROG in the 2nd quarter worth $73,000. 97.92% of the stock is owned by institutional investors and hedge funds.
PROG Price Performance
Shares of NYSE PRG opened at $48.80 on Wednesday. The company has a current ratio of 3.87, a quick ratio of 1.80 and a debt-to-equity ratio of 1.02. The company has a market capitalization of $2.11 billion, a price-to-earnings ratio of 19.92 and a beta of 2.11. PROG Holdings, Inc. has a twelve month low of $26.39 and a twelve month high of $50.28. The business has a 50 day simple moving average of $46.20 and a 200-day simple moving average of $39.20.
PROG Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 3rd. Shareholders of record on Tuesday, August 20th were paid a $0.12 dividend. The ex-dividend date of this dividend was Tuesday, August 20th. This represents a $0.48 dividend on an annualized basis and a yield of 0.98%. PROG’s payout ratio is currently 19.59%.
Wall Street Analysts Forecast Growth
A number of equities research analysts have issued reports on the company. Jefferies Financial Group boosted their price target on PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. TD Cowen boosted their target price on PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a report on Thursday, July 25th. Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and raised their price target for the company from $41.00 to $55.00 in a report on Monday, August 19th. Finally, KeyCorp boosted their price objective on shares of PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a research note on Tuesday, September 10th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $50.40.
View Our Latest Stock Report on PRG
About PROG
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.
Recommended Stories
- Five stocks we like better than PROG
- What does consumer price index measure?
- Goldman Sachs Earnings Reveal Market Moves Investors Can’t Ignore
- Using the MarketBeat Dividend Yield Calculator
- AMD Gains Momentum With AI: Can It Beat Expectations?
- What is a Death Cross in Stocks?
- Lithium Grab: 2 Lithium Stocks That Could Be Takeover Targets
Want to see what other hedge funds are holding PRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PROG Holdings, Inc. (NYSE:PRG – Free Report).
Receive News & Ratings for PROG Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PROG and related companies with MarketBeat.com's FREE daily email newsletter.