Balyasny Asset Management L.P. Has $1.61 Million Holdings in PROG Holdings, Inc. (NYSE:PRG)

Balyasny Asset Management L.P. boosted its position in shares of PROG Holdings, Inc. (NYSE:PRG) by 155.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,130 shares of the company’s stock after buying an additional 23,197 shares during the period. Balyasny Asset Management L.P. owned approximately 0.09% of PROG worth $1,611,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in shares of PROG in the fourth quarter worth about $527,000. Smartleaf Asset Management LLC grew its position in shares of PROG by 141.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,208 shares of the company’s stock worth $51,000 after buying an additional 707 shares during the period. Bank of New York Mellon Corp grew its position in shares of PROG by 9.9% during the 4th quarter. Bank of New York Mellon Corp now owns 377,448 shares of the company’s stock worth $15,951,000 after buying an additional 34,020 shares during the period. Great Lakes Advisors LLC grew its position in shares of PROG by 170.7% during the 4th quarter. Great Lakes Advisors LLC now owns 248,964 shares of the company’s stock worth $10,521,000 after buying an additional 157,006 shares during the period. Finally, Inspire Investing LLC acquired a new stake in PROG in the 4th quarter valued at $833,000. 97.92% of the stock is currently owned by institutional investors and hedge funds.

PROG Stock Performance

Shares of PRG stock opened at $28.82 on Tuesday. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 6.35 and a beta of 1.81. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.34 and a current ratio of 5.24. PROG Holdings, Inc. has a 52 week low of $23.50 and a 52 week high of $50.28. The firm’s 50-day simple moving average is $26.53 and its two-hundred day simple moving average is $36.94.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, April 23rd. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.82 by $0.08. The business had revenue of $684.09 million for the quarter, compared to analyst estimates of $678.23 million. PROG had a net margin of 8.01% and a return on equity of 24.25%. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.91 earnings per share. As a group, equities analysts forecast that PROG Holdings, Inc. will post 3.45 earnings per share for the current year.

PROG Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 3rd. Investors of record on Tuesday, May 20th will be paid a dividend of $0.13 per share. The ex-dividend date is Tuesday, May 20th. This represents a $0.52 annualized dividend and a yield of 1.80%. PROG’s dividend payout ratio is currently 10.66%.

Analyst Ratings Changes

PRG has been the subject of several research reports. Jefferies Financial Group downgraded shares of PROG from a “buy” rating to a “hold” rating and reduced their price target for the company from $58.00 to $29.00 in a research report on Wednesday, February 26th. KeyCorp cut their price objective on shares of PROG from $50.00 to $45.00 and set an “overweight” rating on the stock in a report on Thursday, April 24th. Finally, Loop Capital lowered their target price on shares of PROG from $45.00 to $40.00 and set a “buy” rating for the company in a report on Thursday, April 24th. Two equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, PROG has a consensus rating of “Moderate Buy” and a consensus price target of $44.83.

Insider Activity at PROG

In other news, Director Caroline Sio-Chin Sheu purchased 1,650 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was bought at an average cost of $28.01 per share, for a total transaction of $46,216.50. Following the acquisition, the director now directly owns 18,291 shares of the company’s stock, valued at $512,330.91. This represents a 9.92% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Douglas C. Curling acquired 10,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was bought at an average price of $29.88 per share, with a total value of $298,800.00. Following the completion of the acquisition, the director now directly owns 45,913 shares in the company, valued at approximately $1,371,880.44. This represents a 27.85% increase in their position. The disclosure for this purchase can be found here. 3.21% of the stock is owned by corporate insiders.

PROG Company 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.