Short Interest in PROG Holdings, Inc. (NYSE:PRG) Decreases By 18.5%

PROG Holdings, Inc. (NYSE:PRG - Get Rating) was the target of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totalling 2,560,000 shares, a decrease of 18.5% from the April 15th total of 3,140,000 shares. Currently, 5.5% of the company's shares are sold short. Based on an average trading volume of 547,100 shares, the days-to-cover ratio is presently 4.7 days.

Shares of PROG stock opened at $31.75 on Friday. PROG has a 1 year low of $12.11 and a 1 year high of $31.98. The business has a 50-day moving average of $25.52 and a two-hundred day moving average of $21.60. The company has a market capitalization of $1.48 billion, a P/E ratio of 13.12, a price-to-earnings-growth ratio of 1.67 and a beta of 2.12. The company has a debt-to-equity ratio of 1.01, a current ratio of 3.40 and a quick ratio of 1.58.

PROG (NYSE:PRG - Get Rating) last announced its quarterly earnings results on Wednesday, April 26th. The company reported $1.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.27. PROG had a return on equity of 27.54% and a net margin of 4.70%. The company had revenue of $655.14 million during the quarter, compared to the consensus estimate of $642.58 million. During the same period in the prior year, the company earned $0.57 earnings per share. The company's revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, equities analysts predict that PROG will post 2.69 EPS for the current year.

Several large investors have recently modified their holdings of PRG. FMR LLC increased its holdings in shares of PROG by 195.0% in the first quarter. FMR LLC now owns 2,828,055 shares of the company's stock worth $67,279,000 after acquiring an additional 1,869,502 shares in the last quarter. Norges Bank bought a new position in shares of PROG during the fourth quarter worth about $16,483,000. Charles Schwab Investment Management Inc. grew its holdings in shares of PROG by 143.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,267,221 shares of the company's stock worth $30,147,000 after buying an additional 746,161 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of PROG by 395.4% during the first quarter. Goldman Sachs Group Inc. now owns 826,050 shares of the company's stock worth $23,765,000 after buying an additional 659,312 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of PROG by 37.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,129,384 shares of the company's stock worth $35,966,000 after buying an additional 576,086 shares in the last quarter. 98.81% of the stock is currently owned by institutional investors.

PRG has been the topic of several research reports. Loop Capital upped their price target on PROG from $28.00 to $34.00 in a research note on Thursday, April 27th. TheStreet raised PROG from a "d+" rating to a "c-" rating in a research note on Friday, January 13th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected].

Before you consider PROG, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PROG wasn't on the list.

While PROG currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Click the link below to see which companies made the list.

Sign up for MarketBeat All Access to gain access to MarketBeat's full suite of research tools:

View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.

Get daily stock ideas from top-performing Wall Street analysts. Get short term trading ideas from the MarketBeat Idea Engine. View which stocks are hot on social media with MarketBeat's trending stocks report.

Identify stocks that meet your criteria using seven unique stock screeners. See what's happening in the market right now with MarketBeat's real-time news feed. Export data to Excel for your own analysis.