Legato Capital Management LLC Trims Stock Holdings in PROG Holdings, Inc. (NYSE:PRG)

Legato Capital Management LLC cut its holdings in shares of PROG Holdings, Inc. (NYSE:PRG) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,534 shares of the company’s stock after selling 301 shares during the period. Legato Capital Management LLC owned 0.06% of PROG worth $1,079,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Whittier Trust Co. purchased a new position in PROG during the 3rd quarter worth $26,000. Financial Management Professionals Inc. purchased a new stake in shares of PROG in the third quarter valued at about $33,000. GAMMA Investing LLC boosted its stake in shares of PROG by 72.0% during the third quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock worth $39,000 after buying an additional 337 shares during the period. Quarry LP grew its holdings in shares of PROG by 162.9% during the third quarter. Quarry LP now owns 1,517 shares of the company’s stock worth $74,000 after buying an additional 940 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale acquired a new position in PROG in the 3rd quarter valued at about $83,000. 97.92% of the stock is owned by institutional investors and hedge funds.

PROG Stock Performance

NYSE PRG opened at $42.42 on Thursday. The company has a current ratio of 4.97, a quick ratio of 2.34 and a debt-to-equity ratio of 0.94. The business’s 50 day moving average is $43.08 and its two-hundred day moving average is $45.12. The stock has a market capitalization of $1.76 billion, a price-to-earnings ratio of 11.75 and a beta of 2.18. PROG Holdings, Inc. has a 12-month low of $27.84 and a 12-month high of $50.28.

Analyst Ratings Changes

Several research analysts have weighed in on PRG shares. TD Cowen upgraded PROG to a “strong-buy” rating in a research note on Friday, November 29th. Stephens restated an “overweight” rating and set a $60.00 price target on shares of PROG in a research note on Thursday, January 2nd. Finally, Raymond James upgraded shares of PROG from a “market perform” rating to an “outperform” rating and set a $48.00 price objective on the stock in a research report on Thursday, October 24th. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, PROG presently has an average rating of “Buy” and an average target price of $53.83.

About PROG

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.