2024-02-26 04:00:41 ET
Summary
- PROG Holdings provides lease-purchase solutions for low-income consumers with poor credit scores, serving an unmet need in the market.
- The company has three segments: Progressive Leasing, Vive, and Four, with Progressive Leasing being the main driver of revenue.
- PROG Holdings has a large addressable market and strong partnerships with established merchants, contributing to its growth potential.
- Shares are fully priced at around $30 and are a hold.
Investment Thesis
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PROG Holdings: Don't Buy Just Yet