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

Legato Capital Management LLC reduced its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 1.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 25,534 shares of the company’s stock after selling 301 shares during the quarter. Legato Capital Management LLC’s holdings in PROG were worth $1,079,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of PROG by 1.3% in the 3rd quarter. FMR LLC now owns 2,430,318 shares of the company’s stock worth $117,846,000 after acquiring an additional 30,030 shares during the period. State Street Corp boosted its position in PROG by 6.9% during the third quarter. State Street Corp now owns 1,776,377 shares of the company’s stock worth $86,137,000 after purchasing an additional 114,498 shares in the last quarter. Wellington Management Group LLP grew its holdings in PROG by 1.6% in the third quarter. Wellington Management Group LLP now owns 414,305 shares of the company’s stock valued at $20,090,000 after purchasing an additional 6,517 shares during the last quarter. Assenagon Asset Management S.A. purchased a new position in shares of PROG in the third quarter valued at $19,079,000. Finally, Barclays PLC increased its position in shares of PROG by 22.7% in the third quarter. Barclays PLC now owns 347,155 shares of the company’s stock valued at $16,834,000 after buying an additional 64,197 shares in the last quarter. 97.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRG has been the subject of several recent research reports. 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 raised shares of PROG to a “strong-buy” rating in a research note on Friday, November 29th. Finally, Raymond James raised PROG from a “market perform” rating to an “outperform” rating and set a $48.00 target price on the stock in a research note on Thursday, October 24th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Buy” and an average target price of $53.83.

PROG Stock Performance

Shares of NYSE PRG opened at $42.42 on Thursday. The company has a 50-day simple moving average of $43.08 and a 200-day simple moving average of $45.12. The company has a debt-to-equity ratio of 0.94, a current ratio of 4.97 and a quick ratio of 2.34. The company has a market cap of $1.76 billion, a PE 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.

PROG 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.