Caxton Associates LP Makes New Investment in PROG Holdings, Inc. (NYSE:PRG)

Caxton Associates LP acquired a new stake in PROG Holdings, Inc. (NYSE:PRG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 9,327 shares of the company's stock, valued at approximately $394,000.

A number of other hedge funds have also recently made changes to their positions in PRG. Azora Capital LP acquired a new position in shares of PROG during the fourth quarter worth about $3,345,000. Balyasny Asset Management L.P. lifted its position in shares of PROG by 155.3% during the 4th quarter. Balyasny Asset Management L.P. now owns 38,130 shares of the company's stock worth $1,611,000 after purchasing an additional 23,197 shares during the last quarter. Bank of America Corp DE grew its stake in shares of PROG by 19.5% during the fourth quarter. Bank of America Corp DE now owns 144,466 shares of the company's stock worth $6,105,000 after purchasing an additional 23,536 shares in the last quarter. BNP Paribas Financial Markets acquired a new stake in PROG in the fourth quarter valued at $4,577,000. Finally, Ancora Advisors LLC lifted its holdings in PROG by 51.9% during the 4th quarter. Ancora Advisors LLC now owns 50,150 shares of the company's stock worth $2,119,000 after buying an additional 17,130 shares during the last quarter. Hedge funds and other institutional investors own 97.92% of the company's stock.

Insiders Place Their Bets

In other PROG news, Director Douglas C. Curling bought 10,000 shares of the business's stock in a transaction on Friday, February 21st. The stock was bought at an average price of $29.88 per share, for a total transaction of $298,800.00. Following the completion of the transaction, the director now owns 45,913 shares in the company, valued at approximately $1,371,880.44. The trade was a 27.85 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the stock in a transaction dated Wednesday, February 26th. The stock was acquired at an average price of $28.01 per share, for a total transaction of $46,216.50. Following the completion of the transaction, the director now directly owns 18,291 shares of the company's stock, valued at approximately $512,330.91. The trade was a 9.92 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.21% of the stock is currently owned by company insiders.

PROG Stock Performance

Shares of PRG stock traded up $0.01 during mid-day trading on Friday, hitting $27.89. The stock had a trading volume of 441,974 shares, compared to its average volume of 463,122. The firm has a market cap of $1.13 billion, a PE ratio of 6.14 and a beta of 1.81. The company's 50-day simple moving average is $26.49 and its 200-day simple moving average is $37.07. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. PROG Holdings, Inc. has a fifty-two week low of $23.50 and a fifty-two week high of $50.28.

PROG (NYSE:PRG - Get Free Report) last released its earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.08. PROG had a return on equity of 24.25% and a net margin of 8.01%. The company had revenue of $684.09 million for the quarter, compared to analysts' expectations of $678.23 million. During the same quarter in the previous year, the firm posted $0.91 EPS. The firm's quarterly revenue was up 6.6% on a year-over-year basis. Sell-side analysts anticipate that PROG Holdings, Inc. will post 3.45 earnings per share for the current year.

PROG Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Tuesday, May 20th. PROG's dividend payout ratio (DPR) is 10.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PRG shares. Jefferies Financial Group lowered shares of PROG from a "buy" rating to a "hold" rating and dropped their price target for the company from $58.00 to $29.00 in a research note on Wednesday, February 26th. Loop Capital reduced their price target on shares of PROG from $45.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Finally, KeyCorp dropped their price objective on PROG from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $44.83.

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.