Propel Holdings Inc. (TSE:PRL) Given Consensus Rating of "Strong Buy" by Analysts

Key Points

• Propel Holdings Inc. has received a consensus rating of “Strong Buy” from six analysts, with three issuing a buy rating and three a strong buy rating.
• The company recently increased its quarterly dividend from $0.18 to $0.78 per share, resulting in a dividend yield of 8.7%.
• Insider activity included Senior Officer Noah Buchman selling 26,871 shares for over $1 million, while 33.31% of the stock is currently owned by insiders.

Propel Holdings Inc. (TSE:PRL - Get Free Report) has been given an average recommendation of "Strong Buy" by the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a buy rating and three have issued a strong buy rating on the company.

Several research firms have weighed in on PRL. Raymond James Financial lowered their price target on shares of Propel from C$46.00 to C$42.00 in a report on Wednesday, July 16th. Scotiabank increased their price target on shares of Propel from C$38.00 to C$43.00 in a report on Wednesday, July 23rd. Finally, Cormark raised shares of Propel to a "moderate buy" rating in a report on Thursday, July 10th.

Propel Stock Performance

Shares of PRL stock opened at $36.01 on Friday. The firm's 50-day moving average is $35.86 and its 200-day moving average is $31.71. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 22.27 and a beta of 1.75. Propel has a 52-week low of $20.99 and a 52-week high of $43.36.

Propel Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 4th. Stockholders of record on Thursday, September 4th will be issued a dividend of $0.78 per share. This is a boost from Propel's previous quarterly dividend of $0.18. This represents a $3.12 annualized dividend and a dividend yield of 8.7%. The ex-dividend date of this dividend is Wednesday, August 27th. Propel's payout ratio is 34.64%.

Insider Activity at Propel

In other news, Senior Officer Noah Buchman sold 26,871 shares of the firm's stock in a transaction that occurred on Monday, June 30th. The shares were sold at an average price of $37.34, for a total transaction of $1,003,424.94. Also, Senior Officer Sheldon Saidakovsky sold 5,200 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $33.65, for a total transaction of $174,980.00. In the last three months, insiders sold 104,443 shares of company stock valued at $3,726,023. 33.31% of the stock is currently owned by company insiders.

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.

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