Propel Holdings Inc. (TSE:PRL) Receives Average Rating of "Strong Buy" from Brokerages

Shares of Propel Holdings Inc. (TSE:PRL - Get Free Report) have been assigned a consensus rating of "Strong Buy" from the six analysts that are presently covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a buy recommendation and three have assigned a strong buy recommendation to the company.

Several equities research analysts recently weighed in on the stock. Raymond James Financial cut their price objective on shares of Propel from C$46.00 to C$42.00 in a research report on Wednesday. Scotiabank dropped their target price on shares of Propel from C$44.00 to C$38.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Finally, Cormark raised shares of Propel to a "moderate buy" rating in a report on Thursday, July 10th.

Insider Activity at Propel

In other Propel news, Senior Officer Bradley Sherk sold 6,100 shares of the company's stock in a transaction that occurred on Friday, May 30th. The stock was sold at an average price of $31.85, for a total value of $194,285.00. Also, Senior Officer Noah Buchman sold 26,871 shares of the company's stock in a transaction that occurred on Monday, June 30th. The stock was sold at an average price of $37.34, for a total value of $1,003,424.94. Insiders have sold 115,493 shares of company stock valued at $4,085,590 in the last ninety days. Insiders own 33.31% of the company's stock.

Propel Trading Down 2.3%

Shares of TSE:PRL traded down $0.85 on Wednesday, hitting $35.79. The company had a trading volume of 92,680 shares, compared to its average volume of 179,476. The stock has a 50 day moving average price of $34.77 and a 200 day moving average price of $31.74. The stock has a market cap of $996.43 million, a price-to-earnings ratio of 22.14 and a beta of 1.75. Propel has a 1-year low of $20.99 and a 1-year high of $43.36.

Propel Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, June 4th. Shareholders of record on Wednesday, June 4th were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend was Thursday, May 15th. Propel's payout ratio is presently 34.64%.

Propel Company Profile

Propel Holdings Inc is a financial technology company committed to credit inclusion and helping underserved consumers by providing fair, fast, and transparent access to credit. It operates through its two brands: MoneyKey and CreditFresh. The company, through its MoneyKey brand, is a state-licensed direct lender and offers either Installment Loans or Lines of Credit to new customers in several US states.