We continue to apply multiples at a discount vs. peer median to reflect the decline in recurring revenues and uncertainty around supply chain disruption. Brian Garner will assume the role of CFO of the PROG Holdings, Inc. Post separation, Douglas Lindsay, will continue to serve as CEO of The Aaron’s Company, Inc. and Steve Olsen, will continue as President of The Aaron’s Company, Inc. Kelly Wall will assume the role of CFO of The Aaron’s Company, Inc. John Robinson, President and CEO of Aaron’s, Inc., will continue in his current role and will oversee the separation. The distribution date for the spin-off is November 30, 2020 and both stocks will commence regular-way trading on December 1, 2020. It serves the customers through the sale and lease ownership of furniture, consumer electronics, computers, home appliances, and other accessories at best deal with the highest quality products. We are bullish on both units being able to generate solid margin and cash flow growth as independent entities. Spin-Off Research. About 530,520 shares traded hands on 4,773 trades for the day, See the company profile for Aarons Holdings Company, Inc. (AAN) including business summary, industry/sector information, number of employees, business … The company stock has a Forward Dividend ratio of 0.18, while the dividend yield is 0.95. On the other hand, The Aaron’s Company, headquartered in Atlanta, GA, will comprise of ~1,400 company-operated and franchised stores in 47 US states and Canada, the e-commerce platform Aarons.com and Woodhaven Furniture Industries. Volume today is 551,414 compared to average volume of 499,978. We believe that some of the key rationales for the separation decision may have been the disparate growth trajectories of the two businesses and the dissimilarities between their risk profiles and business models. We consider the average of these net cash figures in our model; $60 million for PROG Holdings, Inc. and $45 million for The Aaron’s Company, Inc. We would like to caution investors that the valuation of both the units is based on limited information available and is subject to revision once Form-10 is available (expected on Record Date of November 27, 2020). The cost-cutting measures, positive operating cash flow, continued strength in customer payment activity and lower operating expenses position the company well for the future. At the time of its acquisition in 2014, AAN’s management believed that Progressive was a natural extension to its business. The Aaron’s Business engages in the sale and lease ownership and specialty retailing of furniture, home appliances, consumer electronics and accessories through its ~1,400 company operated and franchised stores in 47 states, Puerto Rico and Canada, and also through its e-commerce platform, Aarons.com. The distribution will not require shareholder approval and is expected to be tax-free to the company and shareholders. The company will comprise of ~1,400 company operated and franchised stores in the US and Canada, Aarons.com (the e-commerce platform) and Woodhaven Furniture Industries. For more information, visit investor.aarons.com, Aarons.com, ProgLeasing.com, and Vivecard.com. (b) Spin-Off Ratio: The spin-off ratio is 1:2, implying each AAN shareholder will receive one share of The Aaron’s Company common stock for every two shares of AAN’s common stock. Opinions expressed by Forbes Contributors are their own. Deal Overview . Company profile page for Aaron's Co Inc/The including stock price, company news, press releases, executives, board members, and contact information The company believes that Aaron’s Business coupled with aarons.com will provide a solid base for future earnings growth and positive free cash flow generation. The transaction is expected to be completed through a pro rata dividend of The Aaron’s Company stock to parent company shareholders. Aaron’s Holdings Company Inc. (NYSE:AAN) went down by -48.04% from its latest closing price compared to the recent 1-year high of $37.83. Accordingly, we compare the unit with listed companies engaged in retail business including Wayfair Inc, Amazon.com Inc, Lowe’s Companies Inc, Walmart Inc, Sleep Number Corp, La-Z-Boy Inc, Coway Co Ltd, Kroger Co, Boise Cascade Co, Rent-A-Center Inc, Conn’s Inc and HHGregg Inc. Management expects the unit to capture the large virtual lease-to-own market, with shareholders benefiting from the resilient, profitable and capital light business model. ATLANTA, Nov. 5, 2020 /PRNewswire/ -- Aaron's Holdings Company, Inc. (NYSE: AAN), a leading omnichannel provider of lease-purchase solutions, today announced that its Board of Directors has declared a regular quarterly cash dividend of $0.045 per share and declared such dividend payable November 20, 2020 to shareholders of record as of the close of business on November 16, 2020. With 138% Short Interest, Board Change Sends GameStop Stock Soaring, Why Wheaton Precious Metals Stock Looks Undervalued Despite 100% Move, Despite A 4x Rise, Editas Medicine May Continue To Trend Higher, Spin-Off to Pay-Off: An Analytical Guide to Corporate Divestitures. LLC is acting as financial advisor and King & Spalding LLP is acting as legal advisor to the company. Aaron’s Holdings Company, Inc. (the “Company”) and The Aaron’s Company, Inc. (“Aaron’s SpinCo”), currently a wholly-owned subsidiary of the Company, intend to make a series of presentations to the investment community in anticipation of the Company’s previously announced spin-off of its Aaron’s Business segment. Post separation, Steve Michaels, will continue to serve as CEO of the PROG Holdings, Inc. Blake Wakefield, will continue to serve as President of the company. He will depart from his role post spin-off and will serve as Chairman of The Aaron’s Company, Inc. Ray Robinson, who currently serves as the company’s Chairman, will serve as Chairman of PROG Holdings, Inc. following the separation. Aaron’s Holdings Company, Inc. is a leading omni-channel provider of lease-purchase solutions. I am the author of the book Spin. (c) When-Issued Trading: Aaron’s and Progressive’s common stocks are expected to commence when-issued trading on or about November 25, 2020 and is expected to continue up to the distribution date of November 30, 2020 under the symbol “AAN WI” and “PRG WI” respectively. Aaron's Holdings Company, Inc. operates as a holding company. Both the entities will trade on NYSE under the symbols “PRG” and “AAN”, respectively. Die letzten Aarons Holdings Company, Inc. (AAN) Aktienkurse, Verläufe, Nachrichten und weitere wichtige Informationen für den Aktienhandel und Investitionen finden. According to the most recent insider trade that took place on Nov 19, this organization’s EVP, Gen Counsel/Corp Sec sold 2,491 shares at the rate of 62.71, making the entire transaction reach 156,211 in total value, affecting insider ownership by 33,987. On the other hand, The Aaron’s Company, Inc., headquartered in Atlanta, GA, will comprise of ~1,400 company-operated and franchised stores in 47 US states and Canada, the e-commerce platform Aarons.com and Woodhaven Furniture Industries. Aaron’s Holdings Company, Inc. is more likely to be releasing its next quarterly report between February 18 and February 22, 2021, and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. We apply multiples about in line vs. peer median. I am the founding principal and publisher of Spin-Off Research, an independent advisory report featuring analysis of spin-off situations. Later in September 2015, Aaron’s Holdings Company, Inc. also acquired Dent- A-Med, Inc. d/b/a the HELPcard (now Vive, that offers second look finance programs for near-prime customers for ~$55 million in cash on hand and the ~$44 million in debt. Headquartered in Atlanta, The Aaron's Company (NYSE: AAN), is a leading omnichannel provider of lease-purchase solutions. Aaron's (Consolidated) $61.36 per share. Aaron’s Holdings Company, Inc. has a market cap of $1.24 Billion and is expected to release its quarterly earnings report on Feb 18, 2021- Feb 22, 2021. Accordingly, we moderate our adjusted EBITDA margin expectations, although it remains slightly above the upper end of the updated guidance. As of the spin date, PROG Holdings, Inc. is expected to have net cash of $50-70 million; The Aaron’s Company, Inc. is expected to have cash of $40-50 million and no debt. Aaron’s Holdings Company, Inc., which has a market valuation of $633.27 Million as of writing, is expected to release its quarterly earnings report on Feb 18, 2021- Feb 22, 2021. AAN contends that both the entities will benefit from their market leading positions, strong cash flow and balance sheets, thereby unlocking significant shareholder value generation opportunities. Leasing and Vive Financial) and The Aaron’s Company, Inc. (Aaron’s Business segment). (d) Distribution Date: The distribution date for the spin-off is November 30, 2020. AAN not only expanded its presence in the virtual rent-to-own market, but also generated robust top-line and EBITDA growth, primarily on the back of the Progressive business acquisition. On November 17, 2020, Aaron’s Holdings Company, Inc. announced additional details of the separation. AARONS HOLDINGS COMPANY INC income statements for executive base pay and bonus are filed yearly with the SEC in the edgar filing system. Aaron’s Holdings Company Inc. (AAN) full year performance was 7.76% . The transaction is expected to be completed through a pro rata dividend of The Aaron’s Company stock to parent company shareholders. About 587,257 shares traded hands on 4,805 trades for the day, Aarons Holdings Company Inc. (AAN) had a good day on the market for Wednesday January 13 as shares jumped 3.12% to close at $21.50. The confirmation of the spin-off and beginning of trading in two separate companies, probably indicates a very favorable risk-reward for potential investors at current levels, especially given the company’s recent growth and margin momentum. Find the latest Aarons Holdings Company, Inc. (AAN) stock quote, history, news and other vital information to help you with your stock trading and investing. As with most industries, the advent of the internet and virtual marketplaces has led to a transformation of the lease-to-own industry. The higher margin estimates more than offset our lower net cash estimate, leading to an implied equity value of $3,380 million. Click Here to get the full Stock Score Report on Aaron's Holdings Company Inc (AAN) Stock. (a) Record Date: The record date for the spin-off is November 27, 2020. For PROG Holdings, we have considered the combined financials and corresponding forecasts of Progressive Leasing and Vive Financial. Aarons Holdings Company, Inc. Common Stock (AAN) Stock Quotes - Nasdaq offers stock quotes & market activity data for US and global markets. Considering the diluted share count of 68 million, we lower our fair value estimate to $23.00 per AAN share (previously: $24.00) for The Aaron’s Company, Inc. 3) Aaron’s Holdings Company, Inc. (Consolidated). AARONS HOLDINGS COMPANY INC annual reports of executive compensation and pay are most commonly found in the Def 14a documents. In addition to being a Forbes contributor, I have been featured or quoted in various media such as Barron’s, The Wall Street Journal, Bloomberg, Business Week and Fox Business. In fact, the unit’s growth has been generated at relatively consistent margins, probably reflective of the company’s ongoing investments to grow active doors. If you have any questions, please contact Aaron’s by writing Aaron’s, Inc. For AAN (Consolidated), we reiterate our target price of $73.00 per share and Buy rating. On July 29, 2020, Aaron’s Holdings Company, Inc. (NYSE: AAN, $61.36, Market Capitalization: $4.1 billion) a leading omni-channel provider of lease-purchase solutions, announced its intention to separate into two independent, publicly-traded companies: PROG Holdings, Inc (Progressive Stock to parent Company shareholders full year performance was 7.76 % Inc. will comprise of internet! Price has collected -49.38 % of loss in the high-growth virtual lease-to-own Company, provides lease-purchase.... Inc. operates as a holding Company the author of the internet and virtual marketplaces has led to a transformation the. 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