4 Stocks To Buy According To Dennis Goldstein’s Rip Road Capital

In this article, we discuss the top 4 stock picks of Dennis Goldstein’s Rip Road Capital. If you want our detailed analysis of these stocks, go directly to 9 Stocks To Buy According To Dennis Goldstein’s Rip Road Capital. 

4. PROG Holdings, Inc. (NYSE:PRG)

Rip Road Capital’s Stake Value: $27,928,000

Percentage of Rip Road Capital’s 13F Portfolio: 8.24%

Number of Hedge Fund Holders: 27

PROG Holdings, Inc. (NYSE:PRG) is a financial technology company from Utah, specializing in progressive leasing, revolving credit products, and Buy Now Pay Later (BNPL) options to customers of all credit backgrounds. PROG Holdings, Inc. (NYSE:PRG) is one of the top stocks in Dennis Goldstein’s Q3 portfolio. 

Rip Road Capital owns 664,800 shares in PROG Holdings, Inc. (NYSE:PRG), worth $27.9 million, representing 8.24% of the firm’s Q3 portfolio. 

At the end of the third quarter of 2021, 27 hedge funds were long PROG Holdings, Inc. (NYSE:PRG), down from 37 in Q2. 

Here is what Diamond Hill Capital has to say about PROG Holdings, Inc. (NYSE:PRG) in its Q1 2021 investor letter:

“Bottom contributors included PROG Holdings, the largest virtual lease-to-own provider in the U.S. Weaker traffic at PROG’s brick-and-mortar partners and supply chain issues impacted availability of furniture and appliances to lease. We anticipate these issues should improve later in 2021. Additionally, an inquiry into lease-to-own providers by California’s relatively new Department of Financial Protection and Innovation may lead to an increased regulatory burden. However, management is executing well on its integration of e-commerce capabilities with existing partners and is looking to expand with third-party platforms. Further, the business model is attractive as it is relatively asset-light and generates strong and consistent free cash flow.”