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Douglas Curling, a director at PROG Holdings , Inc. (NYSE:PRG), recently acquired 10,000 shares of the company’s common stock, according to a Form 4 filing with the Securities and Exchange Commission. The shares were purchased at a price of $29.88 each, totaling approximately $298,800. The timing appears strategic, as InvestingPro data shows the stock trading near its 52-week low of $28.55, with a P/E ratio of just 7.9x. Following this transaction, Curling’s direct ownership in the company increased to 45,913 shares. According to InvestingPro analysis, the company shows good financial health with a strong current ratio of 4.03x, and management has been actively buying back shares. The purchase was part of the company’s dividend reinvestment program for non-employee directors, which currently yields 1.63%. For deeper insights into PRG’s valuation and 15 additional ProTips, check out the comprehensive Pro Research Report available on InvestingPro.
In other recent news, PROG Holdings reported fourth-quarter results for 2024 that exceeded expectations, with revenues and gross margins modestly surpassing projections. The performance was in line with the higher end of the company’s guidance. Despite this positive outcome, the company’s outlook for 2025 was less optimistic due to the bankruptcy of Big Lots (NYSE:BIG), increased marketing investments, and a slight uptick in consumer delinquencies. Analyst Bobby Griffin from Raymond (NSE:RYMD) James responded by adjusting the price target for PROG Holdings from $48 to $40, while maintaining an Outperform rating. Griffin noted that the company’s stock experienced a significant decline of approximately 28% after the guidance update, which he considered disproportionate to the mid-point of the company’s 2025 EBITDA guidance. He highlighted the company’s strengths, such as active door growth and expected high single-digit growth in first-quarter Gross Merchandise Volume, excluding Big Lots. Additionally, PROG Holdings’ robust balance sheet and cash flow generation could allow for further share repurchases. These developments present a compelling risk/reward profile for the company, according to Griffin.
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