GAMMA Investing LLC Has $39,000 Holdings in PROG Holdings, Inc. (NYSE:PRG)

GAMMA Investing LLC lifted its stake in PROG Holdings, Inc. (NYSE:PRG) by 72.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 805 shares of the company’s stock after acquiring an additional 337 shares during the period. GAMMA Investing LLC’s holdings in PROG were worth $39,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Texas Permanent School Fund Corp boosted its holdings in PROG by 1.4% in the 1st quarter. Texas Permanent School Fund Corp now owns 39,140 shares of the company’s stock valued at $1,348,000 after purchasing an additional 525 shares during the period. Diversified Trust Co lifted its stake in shares of PROG by 8.4% in the second quarter. Diversified Trust Co now owns 7,329 shares of the company’s stock valued at $254,000 after buying an additional 569 shares during the period. ProShare Advisors LLC grew its position in PROG by 7.3% during the first quarter. ProShare Advisors LLC now owns 8,943 shares of the company’s stock worth $308,000 after buying an additional 612 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in PROG by 8.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,115 shares of the company’s stock valued at $351,000 after acquiring an additional 805 shares during the period. Finally, Guidance Capital Inc. increased its stake in PROG by 7.0% during the second quarter. Guidance Capital Inc. now owns 15,658 shares of the company’s stock valued at $543,000 after acquiring an additional 1,029 shares during the period. Institutional investors own 97.92% of the company’s stock.

PROG Stock Performance

PROG stock opened at $49.49 on Friday. The firm has a market capitalization of $2.14 billion, a P/E ratio of 20.20 and a beta of 2.11. The stock has a fifty day moving average price of $46.58 and a two-hundred day moving average price of $39.34. PROG Holdings, Inc. has a 52-week low of $26.39 and a 52-week high of $50.28. The company has a debt-to-equity ratio of 1.02, a current ratio of 3.87 and a quick ratio of 1.80.

PROG (NYSE:PRG) last announced its earnings results on Wednesday, July 24th. The company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.70 by $0.22. The business had revenue of $592.16 million during the quarter, compared to analysts’ expectations of $573.23 million. PROG had a net margin of 4.57% and a return on equity of 26.30%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter last year, the company posted $0.92 EPS. As a group, analysts anticipate that PROG Holdings, Inc. will post 3.34 EPS for the current fiscal year.

PROG Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 3rd. Investors of record on Tuesday, August 20th were given a dividend of $0.12 per share. 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 0.97%. PROG’s dividend payout ratio (DPR) is presently 19.59%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. KeyCorp lifted their price objective on PROG from $46.00 to $55.00 and gave the stock an “overweight” rating in a report on Tuesday, September 10th. TD Cowen lifted their price target on shares of PROG from $40.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, July 25th. Jefferies Financial Group increased their price objective on shares of PROG from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Finally, Loop Capital upgraded shares of PROG from a “hold” rating to a “buy” rating and lifted their target price for the company from $41.00 to $55.00 in a research report on Monday, August 19th. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $50.40.

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.