Breach Inlet Capital Management LLC Has $22.50 Million Position in PROG Holdings, Inc $PRG

Breach Inlet Capital Management LLC grew its position in PROG Holdings, Inc (NYSE:PRG) by 22.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 762,847 shares of the fintech holding company’s stock after acquiring an additional 139,398 shares during the period. PROG accounts for approximately 10.6% of Breach Inlet Capital Management LLC’s investment portfolio, making the stock its 4th biggest position. Breach Inlet Capital Management LLC owned 1.93% of PROG worth $22,496,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PRG. Royal Bank of Canada lifted its stake in shares of PROG by 23.4% in the 1st quarter. Royal Bank of Canada now owns 35,910 shares of the fintech holding company’s stock valued at $955,000 after acquiring an additional 6,807 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in PROG by 5.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,363 shares of the fintech holding company’s stock worth $648,000 after buying an additional 1,162 shares during the period. Millennium Management LLC lifted its holdings in PROG by 62.7% during the 1st quarter. Millennium Management LLC now owns 673,405 shares of the fintech holding company’s stock worth $17,913,000 after buying an additional 259,630 shares during the period. Goldman Sachs Group Inc. lifted its holdings in PROG by 5.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 313,611 shares of the fintech holding company’s stock worth $8,342,000 after buying an additional 16,126 shares during the period. Finally, Caxton Associates LLP acquired a new position in PROG during the 1st quarter worth about $233,000. 97.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Weiss Ratings downgraded PROG from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 13th. Stephens lifted their target price on PROG from $40.00 to $47.50 and gave the stock an “overweight” rating in a report on Thursday, April 30th. B. Riley Financial reaffirmed a “buy” rating on shares of PROG in a report on Thursday, April 30th. Raymond James Financial reaffirmed an “outperform” rating and set a $45.00 target price on shares of PROG in a report on Thursday, April 30th. Finally, TD Cowen lifted their target price on PROG from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.70.

PROG Stock Down 4.2%

Shares of NYSE:PRG opened at $37.60 on Thursday. The company has a market capitalization of $1.51 billion, a price-to-earnings ratio of 10.27 and a beta of 1.82. The company has a debt-to-equity ratio of 1.21, a current ratio of 4.27 and a quick ratio of 2.41. The business’s 50-day moving average is $33.98 and its 200-day moving average is $32.40. PROG Holdings, Inc has a 1 year low of $25.80 and a 1 year high of $41.14.

PROG (NYSE:PRG) last announced its quarterly earnings data on Wednesday, April 29th. The fintech holding company reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.46. The company had revenue of $742.67 million for the quarter, compared to the consensus estimate of $732.70 million. PROG had a return on equity of 21.94% and a net margin of 5.88%.The firm’s revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.90 EPS. PROG has set its Q2 2026 guidance at 1.050-1.050 EPS. Equities research analysts predict that PROG Holdings, Inc will post 4.7 earnings per share for the current year.

PROG Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Tuesday, May 19th were paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, May 19th. PROG’s payout ratio is currently 15.30%.

About PROG

PROG Holdings, Inc, formerly known as Aaron’s, is a North American provider of lease-to-own and consumer finance solutions. The company operates through two primary segments: Aaron’s Business Solutions and Progressive Financial Services. Through Aaron’s Business Solutions, PROG offers customers access to furniture, electronics, home appliances and technology products via lease ownership arrangements, serving both individual consumers and small businesses.

The Progressive Financial Services segment provides lease-purchase and retail point-of-sale financing programs to customers with limited credit histories.