Oppenheimer Begins Coverage on Pra Group (PRAA)
Oppenheimer initiated coverage on shares of Pra Group (NASDAQ:PRAA) in a research report report published on Monday. The brokerage issued a hold rating on the business services provider’s stock. Oppenheimer also issued estimates for Pra Group’s Q4 2017 earnings at $0.36 EPS, Q1 2018 earnings at $0.52 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.52 EPS, Q4 2018 earnings at $0.56 EPS, FY2018 earnings at $2.12 EPS and FY2019 earnings at $2.86 EPS.
Several other brokerages also recently weighed in on PRAA. Raymond James Financial reaffirmed an underperform rating on shares of Pra Group in a research note on Thursday, September 21st. Janney Montgomery Scott downgraded shares of Pra Group from a neutral rating to a sell rating in a research report on Wednesday, October 4th. Zacks Investment Research raised shares of Pra Group from a strong sell rating to a hold rating in a research report on Tuesday, November 21st. Citigroup downgraded shares of Pra Group to an underperform rating in a research report on Thursday, September 21st. Finally, UBS Group assumed coverage on shares of Pra Group in a research report on Monday. They issued a market perform rating on the stock. Three research analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The company presently has an average rating of Hold and an average price target of $40.00.
Shares of Pra Group (NASDAQ PRAA) traded down $0.05 on Monday, reaching $35.40. 221,200 shares of the company traded hands, compared to its average volume of 308,900. Pra Group has a 1 year low of $25.72 and a 1 year high of $42.70. The stock has a market cap of $1,600.00, a P/E ratio of 28.32 and a beta of 1.59.
In other Pra Group news, Director Penelope W. Kyle sold 1,975 shares of the stock in a transaction that occurred on Saturday, December 29th. The shares were sold at an average price of $33.45, for a total value of $66,063.75. Following the sale, the director now directly owns 36,425 shares of the company’s stock, valued at approximately $1,218,416.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.10% of the company’s stock.
Several large investors have recently made changes to their positions in PRAA. Turtle Creek Asset Management Inc. increased its position in shares of Pra Group by 35.7% in the 3rd quarter. Turtle Creek Asset Management Inc. now owns 5,955,965 shares of the business services provider’s stock valued at $170,638,000 after purchasing an additional 1,566,430 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Pra Group in the 3rd quarter valued at $18,167,000. Investment Counselors of Maryland LLC grew its position in shares of Pra Group by 376.4% in the 3rd quarter. Investment Counselors of Maryland LLC now owns 617,790 shares of the business services provider’s stock valued at $17,700,000 after buying an additional 488,114 shares during the last quarter. Dimensional Fund Advisors LP grew its position in shares of Pra Group by 14.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,744,664 shares of the business services provider’s stock valued at $66,123,000 after buying an additional 218,409 shares during the last quarter. Finally, GMT Capital Corp purchased a new position in shares of Pra Group in the 2nd quarter valued at $6,103,000.
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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