PROG (NYSE:PRG) Sets New 1-Year Low – Should You Sell?

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

Wall Street Analysts Forecast Growth

PRG has been the subject of several research reports. TD Cowen raised PROG to a “strong-buy” rating in a report on Friday, November 29th. Stephens reaffirmed an “overweight” rating and set a $60.00 price target on shares of PROG in a research note on Thursday, January 2nd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PROG has an average rating of “Buy” and an average price target of $53.83.

PROG Stock Down 1.3 %

The company has a market cap of $1.21 billion, a PE ratio of 6.39 and a beta of 2.18. The firm has a 50-day simple moving average of $41.74 and a two-hundred day simple moving average of $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.

PROG (NYSE:PRG) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.03. The firm had revenue of $623.30 million during 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%. The firm’s quarterly revenue was up 7.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.72 EPS. Research analysts anticipate that PROG Holdings, Inc. will post 3.45 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PROG

Large investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of PROG by 2.0% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,201 shares of the company’s stock valued at $980,000 after buying an additional 446 shares during the period. LPL Financial LLC grew its position in PROG by 2.4% during the fourth quarter. LPL Financial LLC now owns 19,719 shares of the company’s stock valued at $833,000 after acquiring an additional 458 shares during the period. Comerica Bank increased its stake in PROG by 1.2% during the fourth quarter. Comerica Bank now owns 39,029 shares of the company’s stock worth $1,649,000 after acquiring an additional 473 shares during the last quarter. State of Wyoming raised its holdings in shares of PROG by 10.9% in the 4th quarter. State of Wyoming now owns 5,694 shares of the company’s stock worth $241,000 after purchasing an additional 560 shares during the period. Finally, HB Wealth Management LLC lifted its stake in shares of PROG by 4.1% in the 4th quarter. HB Wealth Management LLC now owns 16,176 shares of the company’s stock valued at $684,000 after purchasing an additional 631 shares in the last quarter. 97.92% of the stock is currently owned by hedge funds and other institutional investors.

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.