Exchange Traded Concepts LLC Has $1.26 Million Position in Aaron's Holdings Company, Inc. (NYSE:PRG)

Exchange Traded Concepts LLC lifted its holdings in Aaron's Holdings Company, Inc. (NYSE:PRG - Free Report) by 586.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 47,175 shares of the company's stock after purchasing an additional 40,307 shares during the period. Exchange Traded Concepts LLC owned 0.12% of Aaron's worth $1,255,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its holdings in Aaron's by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 4,937,208 shares of the company's stock worth $208,646,000 after acquiring an additional 76,810 shares during the period. FMR LLC increased its stake in Aaron's by 5.5% in the fourth quarter. FMR LLC now owns 2,564,441 shares of the company's stock valued at $108,373,000 after acquiring an additional 134,123 shares during the period. Allianz Asset Management GmbH increased its stake in Aaron's by 36.8% in the fourth quarter. Allianz Asset Management GmbH now owns 779,716 shares of the company's stock valued at $32,951,000 after acquiring an additional 209,805 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Aaron's by 1.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 562,539 shares of the company's stock worth $23,773,000 after buying an additional 9,162 shares during the last quarter. Finally, Northern Trust Corp grew its stake in Aaron's by 7.0% during the fourth quarter. Northern Trust Corp now owns 517,984 shares of the company's stock worth $21,890,000 after buying an additional 33,991 shares during the last quarter. Institutional investors and hedge funds own 97.92% of the company's stock.

Analyst Upgrades and Downgrades

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

Aaron's Stock Down 2.1%

Aaron's stock opened at $27.87 on Thursday. The company has a market cap of $1.12 billion, a P/E ratio of 5.71 and a beta of 1.79. 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 fifty day simple moving average of $27.83 and a 200 day simple moving average of $33.77. The company has a current ratio of 4.98, a quick ratio of 2.35 and a debt-to-equity ratio of 0.91.

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

Aaron's Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a dividend yield of 1.87%. The ex-dividend date was Tuesday, May 20th. Aaron's's payout ratio is 10.66%.

Insider Buying and Selling

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

Aaron's 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.

Want to see what other hedge funds are holding PRG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Aaron's Holdings Company, Inc. (NYSE:PRG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.