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Caroline Sio-Chin Sheu, a director at PROG Holdings , Inc. (NYSE:PRG), recently acquired 1,650 shares of the company’s common stock. The shares were purchased at a price of $28.01 each, totaling approximately $46,216. The timing appears strategic, as the stock is trading near its 52-week low of $27.62, having declined over 41% in the past six months. According to InvestingPro analysis, PRG currently trades at an attractive P/E ratio of 6.1x. Following this transaction, Sheu’s direct ownership in the company stands at 18,291 shares. The acquisition was part of the issuer’s dividend reinvestment program for non-employee directors, as noted in the filing. InvestingPro analysis indicates the company maintains strong financial health with a current ratio of 4.03, suggesting robust liquidity. For deeper insights into insider trading patterns and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro.
In other recent news, PROG Holdings has seen several developments affecting its financial outlook and market perception. Jefferies downgraded PROG Holdings’ stock rating from Buy to Hold, reducing the price target to $29 due to concerns about a slower recovery in the industry and challenges in retail segments. The analysts noted a shift in their 2025 Progressive Leasing Gross Merchandise Volume (GMV) growth estimate to nearly flat, influenced by the bankruptcy of Big Lots (NYSE:BIG). Adjusted EBITDA margins are trending towards 10%, which is below the target range, and credit provisions are at the higher end of the expected range.
Meanwhile, Raymond (NSE:RYMD) James adjusted its price target for PROG Holdings to $40, maintaining an Outperform rating. The firm highlighted that PROG Holdings’ fourth-quarter results for 2024 exceeded expectations, with revenues and gross margins surpassing projections. However, the 2025 outlook is less optimistic, impacted by Big Lots’ bankruptcy and increased marketing investments. Despite these challenges, Raymond James noted strengths in PROG Holdings’ active door growth and robust balance sheet, which could support additional share repurchases. These developments reflect a mix of challenges and opportunities for PROG Holdings as it navigates the current market conditions.
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