Breach Inlet Capital Management LLC Acquires 139,398 Shares of PROG Holdings, Inc $PRG

Breach Inlet Capital Management LLC boosted its position in PROG Holdings, Inc (NYSE:PRG) by 22.4% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 762,847 shares of the fintech holding company’s stock after acquiring an additional 139,398 shares during the quarter. PROG comprises approximately 10.6% of Breach Inlet Capital Management LLC’s portfolio, making the stock its 4th largest holding. Breach Inlet Capital Management LLC’s holdings in PROG were worth $22,496,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PRG. Goldman Sachs Group Inc. increased its position in PROG by 436.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,824,091 shares of the fintech holding company’s stock valued at $53,792,000 after buying an additional 1,483,751 shares in the last quarter. First Trust Advisors LP increased its position in PROG by 451.1% in the 3rd quarter. First Trust Advisors LP now owns 702,781 shares of the fintech holding company’s stock valued at $22,742,000 after buying an additional 575,255 shares in the last quarter. UBS Group AG increased its position in PROG by 102.4% in the 3rd quarter. UBS Group AG now owns 823,663 shares of the fintech holding company’s stock valued at $26,654,000 after buying an additional 416,658 shares in the last quarter. LSV Asset Management increased its position in PROG by 37.7% in the 4th quarter. LSV Asset Management now owns 1,159,874 shares of the fintech holding company’s stock valued at $34,205,000 after buying an additional 317,600 shares in the last quarter. Finally, Millennium Management LLC increased its position in PROG by 62.7% in the 1st quarter. Millennium Management LLC now owns 673,405 shares of the fintech holding company’s stock valued at $17,913,000 after buying an additional 259,630 shares in the last quarter. 97.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

PRG has been the subject of a number of research analyst reports. Zacks Research raised PROG from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, May 19th. Stephens boosted their target price on PROG from $40.00 to $47.50 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Wall Street Zen lowered PROG from a “strong-buy” rating to a “buy” rating in a research report on Sunday. Weiss Ratings downgraded PROG from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Finally, B. Riley Financial reiterated a “buy” rating on shares of PROG in a research note on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, PROG currently has a consensus rating of “Moderate Buy” and an average target price of $43.70.

PROG Price Performance

PRG stock opened at $37.60 on Thursday. The company has a market capitalization of $1.51 billion, a P/E ratio of 10.27 and a beta of 1.82. The company has a debt-to-equity ratio of 1.21, a quick ratio of 2.41 and a current ratio of 4.27. PROG Holdings, Inc has a 52-week low of $25.80 and a 52-week high of $41.14. The business has a 50-day simple moving average of $33.98 and a two-hundred day simple moving average of $32.40.

PROG (NYSE:PRG) last released its quarterly earnings results on Wednesday, April 29th. The fintech holding company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.46. PROG had a return on equity of 21.94% and a net margin of 5.88%.The business had revenue of $742.67 million during the quarter, compared to the consensus estimate of $732.70 million. During the same quarter in the previous year, the business earned $0.90 EPS. The company’s quarterly revenue was up 11.1% on a year-over-year basis. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. Research analysts expect that PROG Holdings, Inc will post 4.7 EPS for the current fiscal year.

PROG Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Tuesday, May 19th. PROG’s payout ratio is presently 15.30%.

About PROG

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.