PRA Group (NASDAQ:PRAA) Shares Cross Below 200 Day Moving Average on Disappointing Earnings

PRA Group, Inc. (NASDAQ:PRAA) shares passed below its two hundred day moving average during trading on Friday following a dissappointing earnings announcement. The stock has a two hundred day moving average of $17.59 and traded as low as $12.67. PRA Group shares last traded at $12.92, with a volume of 1,772,632 shares changing hands.

The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.41). PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. The firm had revenue of $286.27 million for the quarter, compared to the consensus estimate of $307.40 million.

Analyst Ratings Changes

PRAA has been the subject of a number of recent research reports. Zacks Research downgraded PRA Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. Weiss Ratings upgraded PRA Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Finally, Wall Street Zen cut shares of PRA Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 1st. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Reduce”.

Hedge Funds Weigh In On PRA Group

Large investors have recently made changes to their positions in the company. Financial Management Professionals Inc. bought a new position in shares of PRA Group in the 3rd quarter valued at about $30,000. Meeder Asset Management Inc. acquired a new position in shares of PRA Group in the 2nd quarter valued at $49,000. EverSource Wealth Advisors LLC grew its stake in 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 valued at $65,000 after acquiring an additional 1,230 shares during the period. Fifth Third Bancorp increased its stake in PRA Group by 7,735.7% during the 1st quarter. Fifth Third Bancorp now owns 9,011 shares of the business services provider’s stock worth $158,000 after purchasing an additional 8,896 shares in the last quarter. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of PRA Group during the second quarter worth $192,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

PRA Group Stock Performance

The stock has a fifty day simple moving average of $19.55 and a 200-day simple moving average of $17.59. The stock has a market cap of $486.44 million, a P/E ratio of 3.16 and a beta of 1.15.

PRA Group Company Profile

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.