D. E. Shaw & Co. Inc. Buys 855,932 Shares of PROG Holdings, Inc. (NYSE:PRG)

D. E. Shaw & Co. Inc. increased its stake in shares of PROG Holdings, Inc. (NYSE:PRG) by 347.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,101,942 shares of the company’s stock after buying an additional 855,932 shares during the period. D. E. Shaw & Co. Inc. owned 1.64% of PROG worth $47,703,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the stock. Arizona State Retirement System boosted its holdings in shares of PROG by 1.0% during the 1st quarter. Arizona State Retirement System now owns 19,666 shares of the company’s stock worth $851,000 after buying an additional 195 shares during the period. Stephens Inc. AR boosted its holdings in shares of PROG by 4.1% during the 1st quarter. Stephens Inc. AR now owns 5,204 shares of the company’s stock worth $225,000 after buying an additional 203 shares during the period. Wright Investors Service Inc. boosted its holdings in shares of PROG by 3.2% during the 1st quarter. Wright Investors Service Inc. now owns 10,383 shares of the company’s stock worth $449,000 after buying an additional 318 shares during the period. CIBC Private Wealth Group LLC boosted its holdings in shares of PROG by 2.6% during the 1st quarter. CIBC Private Wealth Group LLC now owns 13,526 shares of the company’s stock worth $585,000 after buying an additional 340 shares during the period. Finally, State of Michigan Retirement System boosted its holdings in shares of PROG by 2.0% during the 1st quarter. State of Michigan Retirement System now owns 25,087 shares of the company’s stock worth $1,086,000 after buying an additional 500 shares during the period. 95.57% of the stock is owned by institutional investors and hedge funds.

PRG has been the subject of a number of recent research reports. Raymond James boosted their price objective on shares of PROG from $63.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, April 30th. Truist cut their price objective on shares of PROG from $65.00 to $58.00 in a report on Monday, April 12th. Truist Securities cut their price objective on shares of PROG from $65.00 to $58.00 in a report on Monday, April 12th. KeyCorp boosted their price objective on shares of PROG from $65.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, June 9th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of PROG from a “hold” rating to a “strong-buy” rating and set a $50.00 price objective for the company in a report on Wednesday, April 28th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $58.83.

Shares of PROG stock opened at $44.17 on Thursday. The stock’s 50 day moving average price is $49.96. PROG Holdings, Inc. has a 1-year low of $41.27 and a 1-year high of $67.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.20 and a current ratio of 3.23. The company has a market cap of $2.97 billion, a P/E ratio of 8.45, a PEG ratio of 0.51 and a beta of 2.01.

PROG (NYSE:PRG) last released its quarterly earnings data on Thursday, April 29th. The company reported $1.22 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.91 by $0.31. The business had revenue of $721.00 million during the quarter, compared to analysts’ expectations of $663.11 million. PROG had a net margin of 8.74% and a return on equity of 27.12%. As a group, equities analysts predict that PROG Holdings, Inc. will post 4.02 earnings per share for the current year.

PROG Company Profile

PROG Holdings, Inc operates as an omnichannel provider of lease-purchase solutions to underserved and credit-challenged customers. It operates in two segments, Progressive Leasing and Vive. The Progressive Leasing segment offers lease-purchase solutions to customers for various merchandize in the furniture, appliances, electronics, jewelry, mobile phones and accessories, mattresses, and automobile electronics and accessories markets through point-of-sale and e-commerce retail partners, as well in-store, mobile, and online solutions.

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Institutional Ownership by Quarter for PROG (NYSE:PRG)

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