PROG Holdings, Inc. (NYSE:PRG) Shares Acquired by Oberweis Asset Management Inc.

Oberweis Asset Management Inc. boosted its position in shares of PROG Holdings, Inc. (NYSE:PRG - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,600 shares of the company's stock after buying an additional 16,800 shares during the period. Oberweis Asset Management Inc. owned 0.35% of PROG worth $6,069,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Summit Securities Group LLC purchased a new position in PROG in the 4th quarter worth approximately $38,000. Sterling Capital Management LLC boosted its stake in PROG by 765.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the company's stock worth $46,000 after buying an additional 957 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in PROG by 141.1% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company's stock valued at $51,000 after buying an additional 707 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in shares of PROG by 248.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company's stock worth $57,000 after acquiring an additional 977 shares during the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of PROG during the 4th quarter worth $68,000. Institutional investors and hedge funds own 97.92% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PRG shares. KeyCorp cut their price objective on shares of PROG from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Thursday, April 24th. Loop Capital reduced their price target on shares of PROG from $45.00 to $40.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Stephens reiterated an "overweight" rating and issued a $60.00 price objective on shares of PROG in a research report on Thursday, January 2nd. Finally, Jefferies Financial Group lowered PROG from a "buy" rating to a "hold" rating and decreased their price target for the company from $58.00 to $29.00 in a research note on Wednesday, February 26th. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $44.83.

Insider Buying and Selling

In other news, Director Caroline Sio-Chin Sheu acquired 1,650 shares of PROG stock in a transaction dated Wednesday, February 26th. The shares were acquired at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the acquisition, the director now owns 18,291 shares of the company's stock, valued at $512,330.91. This trade represents a 9.92 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Douglas C. Curling bought 10,000 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were purchased at an average price of $29.88 per share, with a total value of $298,800.00. Following the purchase, the director now owns 45,913 shares of the company's stock, valued at approximately $1,371,880.44. This represents a 27.85 % increase in their position. The disclosure for this purchase can be found here. Insiders own 3.21% of the company's stock.

PROG Stock Down 1.1 %

PRG traded down $0.28 during trading hours on Wednesday, hitting $26.08. 183,034 shares of the company's stock were exchanged, compared to its average volume of 453,840. The firm has a market cap of $1.06 billion, a P/E ratio of 5.74 and a beta of 1.96. PROG Holdings, Inc. has a 12-month low of $23.50 and a 12-month high of $50.28. 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 50 day moving average of $26.70 and a 200 day moving average of $38.21.

PROG (NYSE:PRG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.82 by $0.08. PROG had a return on equity of 24.25% and a net margin of 8.01%. The business had revenue of $684.09 million for the quarter, compared to analysts' expectations of $678.23 million. During the same period last year, the firm earned $0.91 earnings per share. The company's revenue for the quarter was up 6.6% compared to the same quarter last year. Analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current fiscal year.

PROG Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 25th. Stockholders of record on Thursday, March 13th were given a dividend of $0.13 per share. The ex-dividend date was Thursday, March 13th. This is an increase from PROG's previous quarterly dividend of $0.12. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.99%. PROG's payout ratio is currently 10.66%.

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.