PRA Group, Inc. (NASDAQ:PRAA) Upgraded at BidaskClub
BidaskClub upgraded shares of PRA Group, Inc. (NASDAQ:PRAA) from a hold rating to a buy rating in a report published on Thursday morning.
Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods began coverage on PRA Group in a research report on Wednesday, May 24th. They issued an outperform rating and a $40.00 target price for the company. Zacks Investment Research cut PRA Group from a hold rating to a sell rating in a research report on Thursday, July 13th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $38.00.
Shares of PRA Group (NASDAQ PRAA) traded down 3.16% during midday trading on Thursday, reaching $32.15. The company’s stock had a trading volume of 784,901 shares. The company has a market cap of $1.45 billion, a P/E ratio of 19.60 and a beta of 1.49. The stock’s 50-day moving average price is $38.14 and its 200-day moving average price is $36.31. PRA Group has a 12-month low of $23.15 and a 12-month high of $42.70.
PRA Group (NASDAQ:PRAA) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by $0.23. The firm had revenue of $200.30 million during the quarter, compared to analyst estimates of $208.97 million. PRA Group had a net margin of 9.76% and a return on equity of 4.69%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period last year, the company earned $0.83 earnings per share. On average, analysts expect that PRA Group will post $2.37 EPS for the current fiscal year.
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In related news, Director Geir Olsen acquired 142,000 shares of PRA Group stock in a transaction on Tuesday, May 23rd. The stock was purchased at an average cost of $34.55 per share, with a total value of $4,906,100.00. Following the purchase, the director now directly owns 27,162 shares in the company, valued at $938,447.10. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.10% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. State of Alaska Department of Revenue increased its stake in PRA Group by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 5,110 shares of the business services provider’s stock valued at $169,000 after buying an additional 90 shares in the last quarter. Amalgamated Bank increased its stake in PRA Group by 2.5% in the second quarter. Amalgamated Bank now owns 6,393 shares of the business services provider’s stock valued at $242,000 after buying an additional 154 shares in the last quarter. Huntington National Bank increased its stake in PRA Group by 5.5% in the second quarter. Huntington National Bank now owns 3,084 shares of the business services provider’s stock valued at $117,000 after buying an additional 162 shares in the last quarter. Advisor Group Inc. increased its stake in PRA Group by 3.5% in the second quarter. Advisor Group Inc. now owns 5,829 shares of the business services provider’s stock valued at $221,000 after buying an additional 196 shares in the last quarter. Finally, Bell Bank increased its stake in PRA Group by 3.0% in the first quarter. Bell Bank now owns 8,153 shares of the business services provider’s stock valued at $270,000 after buying an additional 235 shares in the last quarter.
PRA Group Company Profile
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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