PRA Group (NASDAQ:PRAA) Downgraded by Zacks Research to “Hold”

PRA Group (NASDAQ:PRAA) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a report issued on Monday,Zacks.com reports.

PRAA has been the topic of several other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of PRA Group in a research note on Monday, December 29th. Truist Financial cut their target price on PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. Three equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $25.00.

PRA Group Stock Down 3.9%

PRAA stock opened at $16.99 on Monday. The business has a 50 day moving average price of $16.33 and a 200 day moving average price of $15.91. The stock has a market cap of $662.78 million, a price-to-earnings ratio of -1.93 and a beta of 1.33. PRA Group has a fifty-two week low of $12.29 and a fifty-two week high of $23.97.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, November 3rd. The business services provider reported $0.53 EPS for the quarter, beating the consensus estimate of $0.50 by $0.03. The company had revenue of $247.08 million for the quarter, compared to analyst estimates of $295.77 million. PRA Group had a negative net margin of 29.55% and a positive return on equity of 7.03%. As a group, sell-side analysts anticipate that PRA Group will post 2.1 EPS for the current year.

Insiders Place Their Bets

In other PRA Group news, Director Geir Olsen acquired 15,000 shares of the stock in a transaction on Thursday, November 6th. The shares were bought at an average cost of $14.15 per share, with a total value of $212,250.00. Following the transaction, the director owned 58,933 shares of the company’s stock, valued at approximately $833,901.95. This trade represents a 34.14% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PRA Group

Several hedge funds have recently made changes to their positions in the business. Topline Capital Management LLC increased its position in PRA Group by 16.2% in the 3rd quarter. Topline Capital Management LLC now owns 2,615,711 shares of the business services provider’s stock valued at $40,387,000 after acquiring an additional 365,082 shares during the period. Global Alpha Capital Management Ltd. grew its stake in shares of PRA Group by 4.6% in the 2nd quarter. Global Alpha Capital Management Ltd. now owns 2,111,800 shares of the business services provider’s stock valued at $31,149,000 after purchasing an additional 93,600 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of PRA Group by 13.8% in the third quarter. Wellington Management Group LLP now owns 1,140,310 shares of the business services provider’s stock valued at $17,606,000 after purchasing an additional 138,256 shares during the period. Geode Capital Management LLC increased its holdings in shares of PRA Group by 1.5% in the second quarter. Geode Capital Management LLC now owns 960,839 shares of the business services provider’s stock valued at $14,175,000 after purchasing an additional 14,197 shares during the period. Finally, Invesco Ltd. raised its stake in shares of PRA Group by 15.5% during the second 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 during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

PRA Group Company Profile

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.