Independent Director of PROG Holdings Picks Up 31% More Stock

Investors who take an interest in PROG Holdings, Inc. (NYSE:PRG) should definitely note that the Independent Director, Douglas Curling, recently paid US$29.88 per share to buy US$299k worth of the stock. That's a very solid buy in our book, and increased their holding by a noteworthy 31%.

Check out our latest analysis for PROG Holdings

The Last 12 Months Of Insider Transactions At PROG Holdings

The Co-Founder & Director, Curtis Doman, made the biggest insider sale in the last 12 months. That single transaction was for US$3.9m worth of shares at a price of US$49.27 each. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. It's of some comfort that this sale was conducted at a price well above the current share price, which is US$27.69. So it may not shed much light on insider confidence at current levels.

All up, insiders sold more shares in PROG Holdings than they bought, over the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!

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Insider Ownership Of PROG Holdings

Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Insiders own 2.2% of PROG Holdings shares, worth about US$26m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.

So What Does This Data Suggest About PROG Holdings Insiders?

It is good to see the recent insider purchase. However, the longer term transactions are not so encouraging. The more recent transactions are a positive, but PROG Holdings insiders haven't shown the sustained enthusiasm that we look for, although they do own a decent number of shares, overall. So they seem pretty well aligned, overall. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. When we did our research, we found 4 warning signs for PROG Holdings (1 is significant!) that we believe deserve your full attention.

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For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.