PRA Group, Inc. (NASDAQ:PRAA) Receives Consensus Recommendation of “Hold” from Brokerages

PRA Group, Inc. (NASDAQ:PRAA) has been assigned a consensus rating of “Hold” from the five research firms that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $25.00.

A number of equities analysts recently weighed in on the stock. Wall Street Zen lowered shares of PRA Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Weiss Ratings reiterated a “sell (d)” rating on shares of PRA Group in a research report on Wednesday, June 24th.

PRA Group Stock Performance

Shares of PRAA stock opened at $18.03 on Thursday. PRA Group has a 52-week low of $10.25 and a 52-week high of $22.55. The firm has a market capitalization of $687.66 million, a PE ratio of -2.52 and a beta of 1.10. The stock has a fifty day simple moving average of $16.43 and a two-hundred day simple moving average of $16.55.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.73 EPS for the quarter, beating the consensus estimate of $0.51 by $0.22. PRA Group had a positive return on equity of 13.19% and a negative net margin of 22.51%.The business had revenue of $314.53 million for the quarter, compared to the consensus estimate of $295.90 million. On average, sell-side analysts forecast that PRA Group will post 2.52 EPS for the current fiscal year.

Institutional Trading of PRA Group

Large investors have recently made changes to their positions in the business. Assenagon Asset Management S.A. grew its position in PRA Group by 401.6% in the second quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock worth $11,421,000 after acquiring an additional 481,538 shares in the last quarter. Bank of America Corp DE increased its position in shares of PRA Group by 16.3% during the 1st quarter. Bank of America Corp DE now owns 111,155 shares of the business services provider’s stock valued at $1,945,000 after purchasing an additional 15,538 shares during the last quarter. Amundi purchased a new stake in PRA Group during the 1st quarter valued at $298,000. EverSource Wealth Advisors LLC raised its holdings in PRA Group by 49.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 3,711 shares of the business services provider’s stock valued at $65,000 after buying an additional 1,230 shares during the period. Finally, Empowered Funds LLC bought a new stake in PRA Group in the first quarter worth $366,000. 97.22% of the stock is currently owned by institutional investors.

About PRA Group

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.