PROG Holdings, Inc. (NYSE:PRG) Stock Holdings Lessened by Connor Clark & Lunn Investment Management Ltd.

Posted by Defense World Staff on May 29th, 2023

Connor Clark & Lunn Investment Management Ltd. cut its position in PROG Holdings, Inc. (NYSE:PRG – Get Rating) by 7.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 121,528 shares of the company’s stock after selling 10,466 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.24% of PROG worth $2,053,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Quadrant Capital Group LLC lifted its position in PROG by 68.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,341 shares of the company’s stock valued at $35,000 after purchasing an additional 948 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in PROG by 83.0% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,836 shares of the company’s stock valued at $57,000 after purchasing an additional 1,740 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in PROG by 20.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,290 shares of the company’s stock valued at $123,000 after purchasing an additional 1,232 shares during the last quarter. Captrust Financial Advisors lifted its position in PROG by 50.7% in the 2nd quarter. Captrust Financial Advisors now owns 7,531 shares of the company’s stock valued at $124,000 after purchasing an additional 2,535 shares during the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in PROG by 10.6% in the 3rd quarter. Mutual of America Capital Management LLC now owns 10,041 shares of the company’s stock valued at $150,000 after purchasing an additional 965 shares during the last quarter. 98.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Loop Capital lifted their price objective on shares of PROG from $28.00 to $34.00 in a research report on Thursday, April 27th.

PROG Stock Up 3.0 %

PROG stock opened at $33.19 on Monday. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 1.87 and a beta of 2.12. The company has a current ratio of 3.40, a quick ratio of 1.58 and a debt-to-equity ratio of 1.01. The company’s 50-day moving average price is $27.18 and its two-hundred day moving average price is $22.95. PROG Holdings, Inc. has a 52 week low of $12.11 and a 52 week high of $33.38.

PROG (NYSE:PRG – Get Rating) last released its earnings results on Wednesday, April 26th. The company reported $1.11 EPS for the quarter, beating the consensus estimate of $0.84 by $0.27. The firm had revenue of $655.14 million for the quarter, compared to analysts’ expectations of $642.58 million. PROG had a net margin of 4.70% and a return on equity of 27.54%. PROG’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the company earned $0.57 EPS. On average, analysts expect that PROG Holdings, Inc. will post 2.69 EPS for the current fiscal year.

About PROG

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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.