Shell Asset Management Co. Trims Position in PROG Holdings, Inc. (NYSE:PRG)

Shell Asset Management Co. cut its position in PROG Holdings, Inc. (NYSE:PRGGet Rating) by 12.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,596 shares of the company’s stock after selling 1,715 shares during the period. Shell Asset Management Co.’s holdings in PROG were worth $334,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Brandywine Oak Private Wealth LLC increased its stake in shares of PROG by 8.2% in the fourth quarter. Brandywine Oak Private Wealth LLC now owns 5,702 shares of the company’s stock worth $271,000 after purchasing an additional 432 shares in the last quarter. Life Planning Partners Inc purchased a new stake in shares of PROG in the fourth quarter worth $31,000. ETF Managers Group LLC grew its stake in PROG by 5.0% during the fourth quarter. ETF Managers Group LLC now owns 15,783 shares of the company’s stock valued at $708,000 after acquiring an additional 750 shares in the last quarter. Acadian Asset Management LLC grew its stake in PROG by 7.0% during the fourth quarter. Acadian Asset Management LLC now owns 13,304 shares of the company’s stock valued at $600,000 after acquiring an additional 871 shares in the last quarter. Finally, Quadrant Capital Group LLC grew its stake in PROG by 298.4% during the fourth quarter. Quadrant Capital Group LLC now owns 1,255 shares of the company’s stock valued at $57,000 after acquiring an additional 940 shares in the last quarter. 95.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PRG has been the subject of several research analyst reports. KeyCorp cut their target price on shares of PROG from $40.00 to $36.00 and set an “overweight” rating for the company in a research note on Thursday, July 28th. Raymond James cut shares of PROG from an “outperform” rating to a “market perform” rating in a research note on Friday, June 17th. Stephens set a $21.00 target price on shares of PROG in a research note on Monday, June 20th. Finally, TheStreet cut shares of PROG from a “c-” rating to a “d” rating in a research note on Thursday, July 28th.

PROG Price Performance

PRG stock opened at $21.00 on Friday. PROG Holdings, Inc. has a 52 week low of $15.62 and a 52 week high of $50.79. The company has a quick ratio of 1.26, a current ratio of 3.26 and a debt-to-equity ratio of 1.06. The company has a fifty day simple moving average of $20.18 and a two-hundred day simple moving average of $27.20. The firm has a market capitalization of $1.13 billion, a P/E ratio of 9.09 and a beta of 2.01.

Insider Buying and Selling at PROG

In other PROG news, insider Curtis Linn Doman acquired 50,000 shares of the stock in a transaction on Wednesday, August 3rd. The stock was acquired at an average price of $19.25 per share, for a total transaction of $962,500.00. Following the completion of the transaction, the insider now directly owns 72,000 shares of the company’s stock, valued at $1,386,000. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Brian Garner bought 2,500 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was purchased at an average price of $19.39 per share, for a total transaction of $48,475.00. Following the acquisition, the chief financial officer now owns 38,523 shares of the company’s stock, valued at $746,960.97. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Curtis Linn Doman bought 50,000 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was purchased at an average price of $19.25 per share, with a total value of $962,500.00. Following the acquisition, the insider now directly owns 72,000 shares in the company, valued at approximately $1,386,000. The disclosure for this purchase can be found here. Insiders acquired 53,700 shares of company stock worth $1,034,243 over the last 90 days. 1.23% of the stock is owned by insiders.

About PROG

(Get Rating)

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.

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Institutional Ownership by Quarter for PROG (NYSE:PRG)

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