GAMMA Investing LLC Buys 17,251 Shares of Aaron's Holdings Company, Inc. (NYSE:PRG)

GAMMA Investing LLC grew its holdings in Aaron's Holdings Company, Inc. (NYSE:PRG - Free Report) by 2,450.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,955 shares of the company's stock after acquiring an additional 17,251 shares during the quarter. GAMMA Investing LLC's holdings in Aaron's were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Aaron's by 2.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,201 shares of the company's stock valued at $980,000 after acquiring an additional 446 shares during the period. LPL Financial LLC lifted its position in Aaron's by 2.4% in the fourth quarter. LPL Financial LLC now owns 19,719 shares of the company's stock worth $833,000 after purchasing an additional 458 shares during the period. Comerica Bank lifted its position in Aaron's by 1.2% in the fourth quarter. Comerica Bank now owns 39,029 shares of the company's stock worth $1,649,000 after purchasing an additional 473 shares during the period. State of Wyoming lifted its position in Aaron's by 10.9% in the fourth quarter. State of Wyoming now owns 5,694 shares of the company's stock worth $241,000 after purchasing an additional 560 shares during the period. Finally, Smartleaf Asset Management LLC lifted its position in Aaron's by 141.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock worth $51,000 after purchasing an additional 707 shares during the period. 97.92% of the stock is owned by institutional investors.

Aaron's Price Performance

Aaron's stock traded up $0.05 during mid-day trading on Monday, hitting $28.04. 278,137 shares of the company were exchanged, compared to its average volume of 477,667. The company has a quick ratio of 2.35, a current ratio of 4.98 and a debt-to-equity ratio of 0.91. The business has a fifty day moving average of $27.98 and a 200 day moving average of $33.16. Aaron's Holdings Company, Inc. has a 1-year low of $23.50 and a 1-year high of $50.28. The company has a market capitalization of $1.13 billion, a PE ratio of 5.75 and a beta of 1.79.

Aaron's (NYSE:PRG - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The company reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.82 by $0.08. Aaron's had a return on equity of 23.11% and a net margin of 8.38%. The company had revenue of $684.09 million during the quarter, compared to analyst estimates of $678.23 million. During the same period last year, the company posted $0.91 earnings per share. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. As a group, sell-side analysts expect that Aaron's Holdings Company, Inc. will post 3.45 earnings per share for the current year.

Aaron's Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Stockholders of record on Tuesday, May 20th were paid a $0.13 dividend. The ex-dividend date of this dividend was Tuesday, May 20th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.85%. Aaron's's dividend payout ratio (DPR) is presently 10.66%.

Wall Street Analysts Forecast Growth

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

Insider Activity

In other news, CEO Steven A. Michaels acquired 14,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was purchased at an average cost of $29.03 per share, for a total transaction of $406,420.00. Following the completion of the transaction, the chief executive officer now directly owns 559,641 shares in the company, valued at $16,246,378.23. This trade represents a 2.57% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Brian Garner acquired 3,500 shares of the stock in a transaction that occurred on Tuesday, May 13th. The stock was purchased at an average price of $28.93 per share, with a total value of $101,255.00. Following the completion of the transaction, the chief financial officer now owns 132,597 shares of the company's stock, valued at approximately $3,836,031.21. This trade represents a 2.71% 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 corporate insiders.

Aaron's 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.