Prosperity Wealth Management Inc. Increases Stake in Sezzle Inc. (NASDAQ:SEZL)

Prosperity Wealth Management Inc. lifted its holdings in Sezzle Inc. (NASDAQ:SEZL - Free Report) by 555.5% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 7,440 shares of the company's stock after purchasing an additional 6,305 shares during the period. Prosperity Wealth Management Inc.'s holdings in Sezzle were worth $260,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of SEZL. Bank of New York Mellon Corp lifted its holdings in Sezzle by 28.0% during the fourth quarter. Bank of New York Mellon Corp now owns 6,304 shares of the company's stock worth $1,613,000 after buying an additional 1,378 shares during the period. The Manufacturers Life Insurance Company purchased a new stake in shares of Sezzle during the 4th quarter worth $311,000. Swiss National Bank purchased a new stake in shares of Sezzle during the 4th quarter worth $1,407,000. JPMorgan Chase & Co. lifted its stake in shares of Sezzle by 16.8% during the 4th quarter. JPMorgan Chase & Co. now owns 4,647 shares of the company's stock worth $1,189,000 after purchasing an additional 668 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Sezzle by 1.8% during the 4th quarter. Rhumbline Advisers now owns 2,556 shares of the company's stock worth $654,000 after purchasing an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 2.02% of the company's stock.

Sezzle Stock Up 2.8%

Sezzle stock traded up $4.01 during midday trading on Friday, reaching $147.04. The company's stock had a trading volume of 793,857 shares, compared to its average volume of 827,418. The stock's 50-day simple moving average is $90.06 and its 200-day simple moving average is $59.21. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.62 and a quick ratio of 2.62. Sezzle Inc. has a 52-week low of $11.67 and a 52-week high of $152.10. The stock has a market capitalization of $4.89 billion, a P/E ratio of 49.68 and a beta of 9.06.

Sezzle declared that its board has initiated a share repurchase program on Monday, March 10th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the company to purchase up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company's management believes its stock is undervalued.

Insider Activity at Sezzle

In related news, Director Paul Paradis sold 18,000 shares of the firm's stock in a transaction on Thursday, May 8th. The stock was sold at an average price of $75.00, for a total value of $1,350,000.00. Following the completion of the transaction, the director now owns 315,000 shares in the company, valued at $23,625,000. This trade represents a 5.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Karen Hartje sold 311,196 shares of the firm's stock in a transaction dated Thursday, May 8th. The stock was sold at an average price of $71.83, for a total value of $22,353,208.68. Following the completion of the transaction, the chief financial officer now owns 154,266 shares of the company's stock, valued at approximately $11,080,926.78. The trade was a 66.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 447,608 shares of company stock valued at $34,902,126 in the last three months. 49.49% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts have commented on the stock. Oppenheimer assumed coverage on shares of Sezzle in a research report on Thursday, June 12th. They set an "outperform" rating and a $168.00 price target for the company. B. Riley reissued a "buy" rating and set a $62.83 target price (up previously from $62.00) on shares of Sezzle in a research report on Wednesday, February 26th. Finally, Wall Street Zen cut shares of Sezzle from a "strong-buy" rating to a "buy" rating in a research report on Thursday, May 22nd. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Sezzle has a consensus rating of "Buy" and a consensus target price of $96.94.

About Sezzle

Sezzle Inc operates as a technology-enabled payments company primarily in the United States and Canada. The company provides payment solution in-store and at online retail stores; and through proprietary payments solution that connects consumers with merchants. It also offers Sezzle Platform that provides a payments solution for consumers that extends credit at the point-of-sale allowing consumers to purchase and receive the ordered merchandise at the time of sale while paying in installments over time; Pay-in-Four, which allows consumers to pay a fourth of the purchase price up front and then another fourth of the purchase price every two weeks thereafter over a total of six weeks; Pay-in-Full that allows consumers to pay for the full value of their order up-front through the Sezzle Platform without the extension of credit; and Pay-in-Two and other alternative installment options, which allow consumer to pay half of the value of their order up-front and the second half in two weeks.