PRA Group (NASDAQ:PRAA) Rating Lowered to Buy at Wall Street Zen

PRA Group (NASDAQ:PRAA) was downgraded by Wall Street Zen from a “strong-buy” rating to a “buy” rating in a report issued on Sunday, Wall Street Zen reports.

PRAA has been the topic of a number of other research reports. Weiss Ratings raised PRA Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Zacks Research lowered PRA Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $26.00.

PRA Group Trading Up 1.3%

NASDAQ:PRAA opened at $19.74 on Friday. PRA Group has a 12 month low of $10.25 and a 12 month high of $22.55. The firm’s 50 day moving average is $19.65 and its 200 day moving average is $17.55. The stock has a market capitalization of $743.21 million, a PE ratio of -2.93 and a beta of 1.13.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.99. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%. The business had revenue of $372.17 million during the quarter, compared to analyst estimates of $299.99 million. Research analysts predict that PRA Group will post 3.93 earnings per share for the current year.

Hedge Funds Weigh In On PRA Group

A number of large investors have recently made changes to their positions in PRAA. EverSource Wealth Advisors LLC lifted its holdings in shares of PRA Group by 49.6% in the first quarter. EverSource Wealth Advisors LLC now owns 3,711 shares of the business services provider’s stock worth $65,000 after buying an additional 1,230 shares in the last quarter. Financial Management Professionals Inc. bought a new position in shares of PRA Group in the third quarter valued at approximately $30,000. Meeder Asset Management Inc. bought a new position in shares of PRA Group in the second quarter valued at approximately $49,000. SG Americas Securities LLC grew its stake in PRA Group by 27.1% during the first quarter. SG Americas Securities LLC now owns 15,318 shares of the business services provider’s stock valued at $268,000 after acquiring an additional 3,267 shares in the last quarter. Finally, Counterpoint Mutual Funds LLC grew its stake in PRA Group by 12.0% during the first quarter. Counterpoint Mutual Funds LLC now owns 32,416 shares of the business services provider’s stock valued at $567,000 after acquiring an additional 3,479 shares in the last quarter. 97.22% of the stock is owned by institutional investors.

About PRA Group

PRA Group, Inc is a global financial services company that purchases and manages portfolios of defaulted consumer accounts. The company works with individuals to help resolve outstanding obligations and provides account management, customer service and debt recovery solutions for acquired portfolios.

The company serves consumers and financial institutions across North America, Europe and Australia. Its activities include acquiring nonperforming consumer debt from banks, credit card companies and other financial institutions, as well as servicing portfolios on behalf of third parties in selected markets.

PRA Group was founded in 1996 and is headquartered in Norfolk, Virginia.