PROG Holdings, Inc. (NYSE:PRG) recently saw a decrease in its holdings by Strs Ohio, an institutional investor, during the first quarter of this year. According to the company’s Form 13F filing with the Securities & Exchange Commission, Strs Ohio sold off 19.9% of its shares, amounting to a reduction of 7,500 shares. As a result, Strs Ohio now owns 30,200 shares of PROG Holdings’ stock, representing about 0.06% of the company’s total worth.
The decision made by Strs Ohio to reduce its holdings in PROG Holdings is indicative of shifting investment strategies within the hedge fund industry. Investors are constantly evaluating their portfolios and making decisions based on market conditions and performance metrics. This move demonstrates the calculated nature of investing and highlights the intricate decision-making processes that occur behind closed doors.
PROG Holdings, Inc., listed on the New York Stock Exchange under the symbol PRG, currently has a market capitalization of $1.66 billion. With a price-to-earnings ratio (P/E) of 14.69 and a beta value of 2.08, PRG has shown resilience in turbulent market conditions over the past year.
The company’s stock opened at $35.55 on Monday and has been steadily increasing over time, reaching new heights for the past twelve months. This upward trend can be attributed to several factors, including strong financial performance and favorable market conditions within PROG’s industry sector.
PROG Holdings operates in various segments related to providing innovative financial solutions to consumers across different channels and industries. They offer flexible leasing programs for individuals seeking durable goods such as furniture, appliances, electronics, and tires through their subsidiary Progressive Leasing.
With a current ratio of 3.40 and a quick ratio of 1.58, PROG Holdings demonstrates solid liquidity measures that reflect its capability to cover short-term obligations efficiently. Additionally, PROG’s debt-to-equity ratio of 1.01 suggests a balanced capital structure, indicating the company’s effective management of its financial resources.
Furthermore, PROG Holdings boasts a fifty-day moving average price of $33.11 and a two hundred-day moving average price of $27.20, signaling a consistent upward trajectory in its stock performance. This stable growth may attract further attention from investors seeking profitable opportunities in the market.
Looking ahead, PROG Holdings anticipates capitalizing on its strong market position and delivering sustainable growth in line with emerging trends and evolving consumer demands. The company continues to invest in technological advancements and digital platforms to enhance its customer experience and maintain its competitive edge.
For potential investors or those interested in tracking PRG’s progress, HoldingsChannel.com provides valuable insights through their latest 13F filings and insider trades, offering a comprehensive analysis of the company’s standing within the market.
In conclusion, Strs Ohio’s decision to reduce holdings in PROG Holdings highlights the dynamic nature of the hedge fund industry. As PRG stock continues to exhibit positive momentum with a favorable P/E ratio and strong liquidity measures, investors are encouraged to keep an eye on this company for future investment opportunities. With a calculated approach towards financial innovation and sustained growth strategies, PROG Holdings has positioned itself as an attractive prospect within the market.
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Institutional Holdings in PROG Holdings, Inc. Reflect Confidence Amidst Rating Downgrade
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”PRG” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]PROG Holdings, Inc. (NYSE:PRG), a financial technology holding company, has seen some notable changes in its institutional holdings recently. Lazard Asset Management LLC acquired a new position in the company’s shares during the fourth quarter, amounting to $30,000. Tower Research Capital LLC TRC also increased its stake in PROG by 83.0% in the third quarter and now holds 3,836 shares worth $57,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake by 20.3% in the fourth quarter and currently owns 7,290 shares equivalent to $123,000.
Additionally, Captrust Financial Advisors witnessed a significant growth of 50.7% in its stake during the second quarter. The firm now possesses 7,531 shares valued at $124,000 after acquiring an additional 2,535 shares last quarter. Trexquant Investment LP also entered the scene with a new position during the third quarter worth $150,000.
These institutional investors have brought forth valuable exposure to PROG Holdings Inc., indicating their confidence in the company’s growth potential and strategic direction.
On another note, Loop Capital recently downgraded PROG from a “buy” rating to a “hold” rating with a target price of $34 per share. This move may influence investor sentiment and impact trading activities surrounding PROG stock.
For further insights into PRG’s holdings and insider trades among hedge funds and other stakeholders, interested parties can refer to HoldingsChannel.com for up-to-date information on 13F filings.
PROG Holdings made headlines with its latest quarterly earnings results released on April 26th this year. The company exceeded market expectations by reporting earnings per share of $1.11 for the quarter—$0.27 higher than analysts’ consensus estimate of $0.84 per share.
PROG demonstrated a net margin of 4.70% and a return on equity of 27.54% during this period. The firm’s revenue for the quarter reached $655.14 million, slightly surpassing analysts’ predictions of $642.58 million. However, compared to the same quarter last year, PROG experienced a decline in quarterly revenue by 7.8%.
Sell-side analysts have forecasted that PROG Holdings will post earnings per share of 2.69 for the current fiscal year.
Based in Salt Lake City, Utah, PROG Holdings, Inc is a financial technology holding company operating through three main business segments: Progressive Leasing, Vive Financial, and Four Technologies.
Progressive Leasing focuses on offering lease-to-own transactions primarily to credit-challenged consumers through various e-commerce and point-of-sale retail partners, utilizing online, mobile, and in-store solutions.
Vive Financial specializes in providing revolving credit products through private label and branded credit cards to consumers who do not easily qualify for traditional prime lending.
Four Technologies presents Buy Now, Pay Later (BNPL) options to consumers with diverse credit backgrounds through its platform called Four. This approach enables customers to make purchases and pay in four interest-free installments.
These business segments collectively showcase PROG Holding Inc.’s comprehensive approach in catering to different consumer needs within the financial technology sector.
Overall, PROG Holdings continues to attract institutional investments while navigating potential challenges such as recent rating downgrades. As the company works towards integrating innovative financial services into today’s market demands and capitalizing on its three diverse business segments, investors will closely monitor upcoming developments shaping PRG’s trajectory in the ever-evolving Fintech landscape.
