Quadrature Capital Ltd Makes New Investment in PROG Holdings, Inc. (NYSE:PRG)

Quadrature Capital Ltd purchased a new stake in shares of PROG Holdings, Inc. (NYSE:PRG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 11,758 shares of the company’s stock, valued at approximately $363,000.

Several other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in PROG in the 4th quarter worth about $12,666,000. Breach Inlet Capital Management LLC bought a new stake in PROG during the 4th quarter valued at $12,572,000. Qube Research & Technologies Ltd raised its stake in PROG by 284.5% during the 3rd quarter. Qube Research & Technologies Ltd now owns 266,456 shares of the company’s stock valued at $8,849,000 after acquiring an additional 197,152 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in PROG by 719.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 178,859 shares of the company’s stock valued at $5,529,000 after acquiring an additional 157,024 shares in the last quarter. Finally, Nomura Holdings Inc. raised its stake in PROG by 621.5% during the 3rd quarter. Nomura Holdings Inc. now owns 144,294 shares of the company’s stock valued at $4,792,000 after acquiring an additional 124,294 shares in the last quarter. Institutional investors own 97.92% of the company’s stock.

PROG Stock Up 2.2 %

Shares of PRG stock opened at $36.08 on Tuesday. PROG Holdings, Inc. has a 1 year low of $26.39 and a 1 year high of $44.81. The stock has a market cap of $1.56 billion, a PE ratio of 14.73 and a beta of 2.12. The business’s fifty day moving average is $34.91 and its 200-day moving average is $32.72. The company has a debt-to-equity ratio of 1.01, a quick ratio of 1.83 and a current ratio of 3.91.

PROG (NYSE:PRG) last issued its earnings results on Wednesday, April 24th. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The business had revenue of $641.87 million for the quarter, compared to analysts’ expectations of $632.24 million. PROG had a return on equity of 26.67% and a net margin of 4.71%. Equities analysts expect that PROG Holdings, Inc. will post 3 earnings per share for the current fiscal year.

PROG Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 11th. Investors of record on Tuesday, May 28th were issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date was Friday, May 24th. PROG’s payout ratio is 19.59%.

Analysts Set New Price Targets

Several analysts have weighed in on PRG shares. Loop Capital lifted their target price on PROG from $31.00 to $35.00 and gave the company a “hold” rating in a research note on Thursday, April 25th. TD Cowen lifted their target price on PROG from $38.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. Finally, BTIG Research began coverage on PROG in a research report on Friday, June 7th. They set a “neutral” rating on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $39.60.

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.