Exchange Traded Concepts LLC Acquires 40,307 Shares of Aaron's Holdings Company, Inc. (NYSE:PRG)

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

Several other institutional investors also recently modified their holdings of the company. Yousif Capital Management LLC grew its holdings in shares of Aaron's by 9.2% during the 1st quarter. Yousif Capital Management LLC now owns 17,284 shares of the company's stock worth $460,000 after purchasing an additional 1,461 shares in the last quarter. Wedge Capital Management L L P NC grew its holdings in shares of Aaron's by 41.9% during the 1st quarter. Wedge Capital Management L L P NC now owns 105,148 shares of the company's stock worth $2,797,000 after purchasing an additional 31,073 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Aaron's by 2,450.4% during the 1st quarter. GAMMA Investing LLC now owns 17,955 shares of the company's stock worth $478,000 after purchasing an additional 17,251 shares in the last quarter. Wellington Management Group LLP grew its holdings in shares of Aaron's by 1.8% during the 4th quarter. Wellington Management Group LLP now owns 421,769 shares of the company's stock worth $17,824,000 after purchasing an additional 7,464 shares in the last quarter. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of Aaron's during the 4th quarter worth approximately $1,845,000. Institutional investors and hedge funds own 97.92% of the company's stock.

Aaron's Price Performance

PRG traded down $0.05 during trading on Friday, hitting $27.88. The company's stock had a trading volume of 949,506 shares, compared to its average volume of 478,468. The firm's 50 day moving average price is $27.94 and its two-hundred day moving average price is $33.39. The company has a quick ratio of 2.35, a current ratio of 4.98 and a debt-to-equity ratio of 0.91. Aaron's Holdings Company, Inc. has a 12 month low of $23.50 and a 12 month high of $50.28. The stock has a market capitalization of $1.13 billion, a price-to-earnings ratio of 5.71 and a beta of 1.79.

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

Aaron's Dividend Announcement

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

Analyst Upgrades and Downgrades

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

Insider Transactions at Aaron's

In other Aaron's news, CEO Steven A. Michaels acquired 14,000 shares of the company's stock in a transaction on Monday, May 12th. The shares were purchased at an average price of $29.03 per share, for a total transaction of $406,420.00. Following the completion of the purchase, the chief executive officer now directly owns 559,641 shares of the company's stock, valued at approximately $16,246,378.23. This represents a 2.57% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 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 owned by 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.