PROG (NYSE:PRG) Reaches New 12-Month Low – Time to Sell?

PROG Holdings, Inc. (NYSE:PRG)’s share price reached a new 52-week low on Monday . The stock traded as low as $28.87 and last traded at $28.86, with a volume of 45844 shares changing hands. The stock had previously closed at $29.39.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Stephens restated an “overweight” rating and set a $60.00 target price on shares of PROG in a report on Thursday, January 2nd. TD Cowen upgraded shares of PROG to a “strong-buy” rating in a report on Friday, November 29th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $53.83.

PROG Stock Down 1.3 %

The business’s 50 day moving average is $41.74 and its 200-day moving average is $44.85. The company has a debt-to-equity ratio of 0.99, a current ratio of 5.24 and a quick ratio of 2.34. The company has a market cap of $1.21 billion, a PE ratio of 6.39 and a beta of 2.18.

PROG (NYSE:PRG) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.80 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.03. The company had revenue of $623.30 million for the quarter, compared to analysts’ expectations of $612.67 million. PROG had a return on equity of 24.25% and a net margin of 8.01%. PROG’s quarterly revenue was up 7.9% on a year-over-year basis. During the same period last year, the firm earned $0.72 earnings per share. As a group, analysts predict that PROG Holdings, Inc. will post 3.45 EPS for the current year.

Hedge Funds Weigh In On PROG

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Financial Management Professionals Inc. acquired a new position in shares of PROG in the 3rd quarter valued at $33,000. Summit Securities Group LLC purchased a new position in shares of PROG during the fourth quarter worth approximately $38,000. Sterling Capital Management LLC increased its holdings in shares of PROG by 765.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the company’s stock valued at $46,000 after acquiring an additional 957 shares during the period. Smartleaf Asset Management LLC raised its position 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 purchasing an additional 707 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in PROG by 248.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 1,370 shares of the company’s stock worth $57,000 after purchasing an additional 977 shares during the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

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.