Insider Buying: PROG Holdings, Inc. (NYSE:PRG) Insider Acquires 50,000 Shares of Stock

PROG Holdings, Inc. (NYSE:PRGGet Rating) insider Curtis Linn Doman purchased 50,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average cost of $19.25 per share, for a total transaction of $962,500.00. Following the completion of the acquisition, the insider now owns 72,000 shares of the company’s stock, valued at approximately $1,386,000. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

PROG Stock Up 4.0 %

Shares of NYSE PRG opened at $21.00 on Friday. The company has a 50 day simple moving average of $20.18 and a 200-day simple moving average of $27.20. The company has a market capitalization of $1.13 billion, a P/E ratio of 9.09 and a beta of 2.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 3.26 and a quick ratio of 1.26. PROG Holdings, Inc. has a 1 year low of $15.62 and a 1 year high of $50.79.

Institutional Trading of PROG

Hedge funds and other institutional investors have recently made changes to their positions in the company. Landscape Capital Management L.L.C. increased its holdings in PROG by 5.2% in the 2nd quarter. Landscape Capital Management L.L.C. now owns 164,112 shares of the company’s stock valued at $2,708,000 after purchasing an additional 8,046 shares during the last quarter. M&T Bank Corp increased its holdings in PROG by 24.6% in the 2nd quarter. M&T Bank Corp now owns 13,218 shares of the company’s stock valued at $218,000 after purchasing an additional 2,606 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its holdings in PROG by 276.1% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 127,214 shares of the company’s stock valued at $2,099,000 after purchasing an additional 93,389 shares during the last quarter. New York State Teachers Retirement System boosted its position in PROG by 5.6% in the 2nd quarter. New York State Teachers Retirement System now owns 97,916 shares of the company’s stock valued at $1,616,000 after buying an additional 5,223 shares during the period. Finally, Maryland State Retirement & Pension System purchased a new position in PROG in the 2nd quarter valued at approximately $361,000. Institutional investors and hedge funds own 95.47% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on PRG shares. KeyCorp lowered their price target on shares of PROG from $40.00 to $36.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. TheStreet lowered shares of PROG from a “c-” rating to a “d” rating in a report on Thursday, July 28th. Raymond James lowered shares of PROG from an “outperform” rating to a “market perform” rating in a research note on Friday, June 17th. Finally, Stephens set a $21.00 target price on shares of PROG in a research note on Monday, June 20th.

About PROG

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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.

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