Raymond James Financial Inc. Reiterates Market Perform Rating for PRA Group Inc. (PRAA)
PRA Group Inc. (NASDAQ:PRAA)‘s stock had its “market perform” rating reaffirmed by equities researchers at Raymond James Financial Inc. in a research note issued on Tuesday. They currently have a $32.00 price objective on the stock. Raymond James Financial Inc.’s price objective would suggest a potential upside of 17.65% from the stock’s previous close. The analysts noted that the move was a valuation call.
Several other brokerages also recently weighed in on PRAA. William Blair reissued an “outperform” rating on shares of PRA Group in a report on Tuesday, September 20th. Zacks Investment Research raised PRA Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, SunTrust Banks Inc. set a $42.00 target price on PRA Group and gave the stock a “buy” rating in a report on Tuesday, October 11th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.20.
Shares of PRA Group (NASDAQ:PRAA) opened at 27.20 on Tuesday. The company has a 50-day moving average of $32.51 and a 200 day moving average of $29.18. PRA Group has a 12-month low of $20.00 and a 12-month high of $42.03. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 10.12 and a beta of 1.38.
PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Monday, November 7th. The company reported $0.68 earnings per share for the quarter, missing the consensus estimate of $0.71 by $0.03. The business earned $222 million during the quarter, compared to analyst estimates of $229.85 million. PRA Group had a return on equity of 17.71% and a net margin of 15.87%. PRA Group’s revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.99 EPS. Analysts predict that PRA Group will post $2.93 earnings per share for the current year.
In related news, insider Michael J. Petit sold 5,000 shares of PRA Group stock in a transaction that occurred on Friday, October 7th. The stock was sold at an average price of $34.23, for a total transaction of $171,150.00. Following the completion of the transaction, the insider now directly owns 96,857 shares in the company, valued at $3,315,415.11. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael J. Petit sold 15,000 shares of PRA Group stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $34.21, for a total value of $513,150.00. Following the transaction, the insider now owns 106,857 shares of the company’s stock, valued at $3,655,577.97. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Genesee Valley Trust Co. bought a new position in shares of PRA Group during the second quarter valued at $900,000. Bank of Montreal Can bought a new position in shares of PRA Group during the second quarter valued at $256,000. Capstone Asset Management Co. boosted its position in shares of PRA Group by 1.4% in the second quarter. Capstone Asset Management Co. now owns 14,068 shares of the company’s stock valued at $340,000 after buying an additional 200 shares in the last quarter. Creative Planning boosted its position in shares of PRA Group by 40.4% in the second quarter. Creative Planning now owns 12,218 shares of the company’s stock valued at $295,000 after buying an additional 3,515 shares in the last quarter. Finally, GW&K Investment Management LLC boosted its position in shares of PRA Group by 1.3% in the second quarter. GW&K Investment Management LLC now owns 618,097 shares of the company’s stock valued at $14,921,000 after buying an additional 8,138 shares in the last quarter.
PRA Group Company Profile
PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.
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