Voloridge Investment Management LLC Buys 26,964 Shares of PROG Holdings, Inc. (NYSE:PRG)

Voloridge Investment Management LLC boosted its position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 11.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 257,141 shares of the company's stock after purchasing an additional 26,964 shares during the period. Voloridge Investment Management LLC owned about 0.62% of PROG worth $10,867,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Squarepoint Ops LLC bought a new position in shares of PROG in the fourth quarter worth about $235,000. Two Sigma Advisers LP raised its stake in shares of PROG by 144.2% in the fourth quarter. Two Sigma Advisers LP now owns 10,500 shares of the company's stock worth $444,000 after acquiring an additional 6,200 shares during the last quarter. Two Sigma Investments LP raised its stake in shares of PROG by 63.1% in the fourth quarter. Two Sigma Investments LP now owns 97,846 shares of the company's stock worth $4,135,000 after acquiring an additional 37,872 shares during the last quarter. State of Wyoming raised its stake in shares of PROG by 10.9% in the fourth quarter. State of Wyoming now owns 5,694 shares of the company's stock worth $241,000 after acquiring an additional 560 shares during the last quarter. Finally, ProShare Advisors LLC raised its stake in shares of PROG by 41.7% in the fourth quarter. ProShare Advisors LLC now owns 12,307 shares of the company's stock worth $520,000 after acquiring an additional 3,623 shares during the last quarter. 97.92% of the stock is owned by institutional investors.

Insider Buying and Selling at PROG

In other PROG news, CEO Steven A. Michaels acquired 14,000 shares of the company's stock in a transaction that occurred on Monday, May 12th. The stock was acquired at an average price of $29.03 per share, for a total transaction of $406,420.00. Following the acquisition, the chief executive officer now directly owns 559,641 shares in the company, valued at $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 SEC, which is available at the SEC website. Also, CFO Brian Garner purchased 3,500 shares of the stock in a transaction on Tuesday, May 13th. The shares were purchased at an average price of $28.93 per share, with a total value of $101,255.00. Following the acquisition, the chief financial officer now owns 132,597 shares in the company, valued at approximately $3,836,031.21. The trade was a 2.71% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.21% of the company's stock.

PROG Trading Up 0.6%

Shares of NYSE:PRG traded up $0.19 during trading on Friday, hitting $29.29. 92,848 shares of the company's stock were exchanged, compared to its average volume of 474,498. PROG Holdings, Inc. has a 1-year low of $23.50 and a 1-year high of $50.28. The firm has a 50-day moving average price of $27.05 and a two-hundred day moving average price of $35.58. The company has a current ratio of 5.24, a quick ratio of 2.34 and a debt-to-equity ratio of 0.99. The firm has a market cap of $1.18 billion, a P/E ratio of 6.46 and a beta of 1.81.

PROG (NYSE:PRG - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.82 by $0.08. The company had revenue of $684.09 million during the quarter, compared to analysts' expectations of $678.23 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. PROG's revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.91 EPS. Equities analysts predict 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. Shareholders of record on Tuesday, May 20th will be issued a $0.13 dividend. The ex-dividend date is Tuesday, May 20th. This represents a $0.52 annualized dividend and a dividend yield of 1.78%. PROG's dividend payout ratio is currently 10.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Loop Capital dropped their target price on shares of PROG from $45.00 to $40.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Jefferies Financial Group downgraded shares of PROG from a "buy" rating to a "hold" rating and dropped their target price for the stock from $58.00 to $29.00 in a research note on Wednesday, February 26th. Finally, KeyCorp dropped their target price on shares of PROG from $50.00 to $45.00 and set an "overweight" rating for the company in a research note on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PROG presently has a consensus rating of "Moderate Buy" and a consensus target price 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.