5 Stocks in Bryant Regan’s Lafitte Capital Management Portfolio

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

Regan’s Stake Value: $20,455,000
Percentage of Bryant Regan’s 13F Portfolio: 12.53%
Number of Hedge Fund Holders: 37

PROG Holdings, Inc. (NYSE:PRG) is a Salt Lake City-based fintech holding firm that offers its consumers competitive payment choices. In June, KeyBanc analyst Bradley Thomas raised the price target on PROG Holdings, Inc. (NYSE:PRG) to $70 from $65 and kept an “Overweight” rating on the shares.

Lafitte Capital Management holds 425,000 shares in PROG Holdings, Inc. (NYSE:PRG), worth over $20.46 million. This represents 12.53% of its portfolio. The latest data reveals that the hedge fund’s stake in PROG Holdings, Inc. (NYSE:PRG) stock increased by 191% in the second quarter.

Diamond Hill Capital, in its first-quarter 2021 investor letter, mentioned PROG Holdings, Inc. (NYSE:PRG). Here is what the fund said:

“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.”