PROG (NYSE:PRG) Sees Strong Trading Volume – Should You Buy?

PROG Holdings, Inc. (NYSE:PRG) shares saw strong trading volume on Monday . 448,771 shares were traded during mid-day trading, an increase of 55% from the previous session’s volume of 288,736 shares.The stock last traded at $43.50 and had previously closed at $43.07.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. 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 report on Thursday, October 24th. Stephens restated an “overweight” rating and issued a $60.00 price objective on shares of PROG in a report on Thursday, January 2nd. Finally, TD Cowen upgraded shares of PROG to a “strong-buy” rating in a report on Friday, November 29th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $53.83.

PROG Stock Performance

The firm’s 50 day moving average is $43.19 and its two-hundred day moving average is $45.13. The stock has a market capitalization of $1.76 billion, a PE ratio of 11.75 and a beta of 2.18. The company has a debt-to-equity ratio of 0.94, a quick ratio of 2.34 and a current ratio of 4.97.

Institutional Investors Weigh In On PROG

Large investors have recently modified their holdings of the company. Whittier Trust Co. purchased a new stake in shares of PROG in the 3rd quarter valued at approximately $26,000. Financial Management Professionals Inc. purchased a new stake in shares of PROG in the 3rd quarter valued at approximately $33,000. Summit Securities Group LLC purchased a new stake in shares of PROG in the 4th quarter valued at approximately $38,000. GAMMA Investing LLC increased its position in shares of PROG by 72.0% in the 3rd quarter. GAMMA Investing LLC now owns 805 shares of the company’s stock valued at $39,000 after purchasing an additional 337 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of 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. 97.92% of the stock is owned by hedge funds and other institutional investors.

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.