AdvisorShares Investments LLC Invests $479,000 in Aaron’s Holdings Company, Inc. $PRG

AdvisorShares Investments LLC bought a new stake in shares of Aaron’s Holdings Company, Inc. (NYSE:PRG) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,812 shares of the company’s stock, valued at approximately $479,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PRG. Millennium Management LLC raised its holdings in Aaron’s by 62.7% during the first quarter. Millennium Management LLC now owns 673,405 shares of the company’s stock worth $17,913,000 after buying an additional 259,630 shares during the last quarter. Allianz Asset Management GmbH lifted its holdings in Aaron’s by 18.9% during the third quarter. Allianz Asset Management GmbH now owns 1,187,509 shares of the company’s stock worth $38,428,000 after acquiring an additional 188,835 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of Aaron’s by 65.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 348,436 shares of the company’s stock worth $11,275,000 after buying an additional 137,492 shares during the last quarter. Bridgeway Capital Management LLC grew its position in shares of Aaron’s by 81.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 248,624 shares of the company’s stock valued at $7,297,000 after acquiring an additional 111,277 shares during the period. Finally, Y Intercept Hong Kong Ltd increased its position in Aaron’s by 503.6% in the second quarter. Y Intercept Hong Kong Ltd now owns 109,597 shares of the company’s stock worth $3,217,000 after buying an additional 91,439 shares during the last quarter. 97.92% of the stock is owned by institutional investors and hedge funds.

Aaron’s Price Performance

Shares of PRG opened at $34.68 on Monday. The firm has a market cap of $1.37 billion, a PE ratio of 8.80 and a beta of 1.73. The company has a current ratio of 4.74, a quick ratio of 2.65 and a debt-to-equity ratio of 0.85. Aaron’s Holdings Company, Inc. has a 1-year low of $23.50 and a 1-year high of $44.24. The firm has a fifty day simple moving average of $31.21 and a two-hundred day simple moving average of $31.64.

Analyst Upgrades and Downgrades

Several research analysts have commented on PRG shares. Wall Street Zen downgraded Aaron’s from a “buy” rating to a “hold” rating in a research note on Saturday, January 10th. B. Riley Financial began coverage on shares of Aaron’s in a research report on Tuesday, December 16th. They issued a “buy” rating and a $50.00 target price for the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Aaron’s in a research note on Thursday, January 22nd. TD Cowen decreased their price objective on Aaron’s from $41.00 to $38.00 and set a “buy” rating on the stock in a report on Thursday, January 8th. Finally, BTIG Research upgraded shares of Aaron’s from a “sell” rating to a “neutral” rating and set a $31.00 price target for the company in a report on Friday, November 21st. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $38.83.

Aaron’s Company Profile

PROG Holdings, Inc (NYSE: PRG), 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.