PROG (NYSE:PRG) Shares Gap Up to $32.01

PROG Holdings, Inc. (NYSE:PRG)’s share price gapped up before the market opened on Monday . The stock had previously closed at $32.01, but opened at $32.92. PROG shares last traded at $32.11, with a volume of 41,764 shares.

Wall Street Analyst Weigh In

A number of research firms recently commented on PRG. TD Cowen began coverage on PROG in a report on Friday, March 8th. They set an “outperform” rating and a $37.00 target price for the company. Stephens raised PROG from an “equal weight” rating to an “overweight” rating in a report on Tuesday, January 2nd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, PROG has an average rating of “Moderate Buy” and an average price target of $39.60.

PROG Price Performance

The company has a quick ratio of 1.49, a current ratio of 3.66 and a debt-to-equity ratio of 1.00. The stock has a market capitalization of $1.43 billion, a PE ratio of 11.07 and a beta of 2.08. The company has a 50-day moving average of $32.20 and a 200 day moving average of $30.63.

PROG (NYSE:PRG) last issued its quarterly earnings results on Wednesday, February 21st. The company reported $0.72 EPS for the quarter, topping the consensus estimate of $0.67 by $0.05. PROG had a return on equity of 28.83% and a net margin of 5.77%. The firm had revenue of $577.40 million during the quarter, compared to analysts’ expectations of $568.35 million. During the same period in the previous year, the business earned $0.84 earnings per share. The firm’s revenue for the quarter was down 5.7% on a year-over-year basis. Sell-side analysts predict that PROG Holdings, Inc. will post 2.83 EPS for the current year.

PROG Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Thursday, March 14th were given a dividend of $0.12 per share. This represents a $0.48 annualized dividend and a dividend yield of 1.47%. The ex-dividend date was Wednesday, March 13th. PROG’s payout ratio is 16.22%.

Institutional Trading of PROG

Several large investors have recently added to or reduced their stakes in PRG. Blue Trust Inc. purchased a new stake in PROG in the 4th quarter valued at $27,000. BluePath Capital Management LLC purchased a new stake in PROG in the 3rd quarter valued at $31,000. Acadian Asset Management LLC purchased a new position in shares of PROG during the 3rd quarter worth $33,000. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of PROG during the 3rd quarter worth $103,000. Finally, Counterpoint Mutual Funds LLC grew its holdings in shares of PROG by 19.0% during the 3rd quarter. Counterpoint Mutual Funds LLC now owns 3,572 shares of the company’s stock worth $119,000 after purchasing an additional 570 shares during the period. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

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.