PRA Group (NASDAQ:PRAA) Releases Earnings Results, Beats Expectations By $0.03 EPS

PRA Group (NASDAQ:PRAA) announced its earnings results on Monday. The business services provider reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03, Zacks reports. The company had revenue of $247.08 million for the quarter, compared to analyst estimates of $295.77 million. PRA Group had a return on equity of 6.52% and a net margin of 8.10%.

PRA Group Trading Up 6.9%

PRAA traded up $0.94 during midday trading on Monday, reaching $14.65. The company’s stock had a trading volume of 466,612 shares, compared to its average volume of 362,174. The stock has a market cap of $572.43 million, a P/E ratio of 6.29 and a beta of 1.45. The company has a fifty day simple moving average of $15.53 and a 200 day simple moving average of $15.55. PRA Group has a twelve month low of $12.91 and a twelve month high of $25.43.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on PRAA. Wall Street Zen raised PRA Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Citigroup reaffirmed an “outperform” rating on shares of PRA Group in a research report on Tuesday, August 5th. JMP Securities set a $24.00 target price on PRA Group and gave the stock a “market outperform” rating in a research report on Tuesday, August 5th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of PRA Group in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, PRA Group currently has an average rating of “Moderate Buy” and an average target price of $27.50.

Institutional Trading of PRA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PRA Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider’s stock worth $476,000 after purchasing an additional 1,020 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of PRA Group by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,004 shares of the business services provider’s stock worth $2,248,000 after purchasing an additional 4,010 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of PRA Group by 28.8% during the 2nd quarter. Cetera Investment Advisers now owns 14,446 shares of the business services provider’s stock worth $213,000 after purchasing an additional 3,229 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of PRA Group by 59.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 217,861 shares of the business services provider’s stock worth $3,213,000 after purchasing an additional 80,945 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in shares of PRA Group by 15.5% during the 2nd quarter. Invesco Ltd. now owns 819,742 shares of the business services provider’s stock worth $12,091,000 after purchasing an additional 109,857 shares in the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

PRA Group Company Profile

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.