PRA Group (NASDAQ:PRAA) Stock Gets Downgrade from Zacks Research

PRA Group (NASDAQ:PRAA) was downgraded by research analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Monday, Zacks reports.

Other equities analysts also recently issued reports about the stock. Weiss Ratings downgraded shares of PRA Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. 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. Two research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce”.

PRA Group Stock Performance

Shares of NASDAQ:PRAA opened at $11.96 on Monday. PRA Group has a 52 week low of $10.25 and a 52 week high of $22.55. The company’s fifty day moving average is $19.28 and its 200-day moving average is $17.54. The company has a market capitalization of $450.29 million, a PE ratio of 2.92 and a beta of 1.15.

PRA Group (NASDAQ:PRAA) last posted its earnings results on Thursday, November 5th. The business services provider reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.41). The firm had revenue of $286.27 million during the quarter, compared to the consensus estimate of $307.40 million. PRA Group had a return on equity of 14.48% and a net margin of 12.06%. On average, analysts forecast that PRA Group will post 3.29 EPS for the current year.

Hedge Funds Weigh In On PRA Group

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in PRA Group in the second quarter worth $84,183,000. Assenagon Asset Management S.A. increased its stake in shares of 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 valued at $11,421,000 after buying an additional 481,538 shares in the last quarter. Bank of America Corp DE acquired a new stake in shares of PRA Group in the second quarter valued at $3,112,000. Susquehanna International Group LLP raised its holdings in shares of PRA Group by 288.0% in the second quarter. Susquehanna International Group LLP now owns 200,848 shares of the business services provider’s stock valued at $3,814,000 after buying an additional 149,078 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new position in shares of PRA Group in the second quarter valued at about $2,404,000. Institutional investors own 97.22% of the company’s stock.

About PRA Group

PRA Group, Inc. is a global financial services company that purchases and collects portfolios of unpaid and charged-off accounts. Its clients include banks, credit card companies and other lenders seeking to manage delinquent accounts and recover outstanding balances. The company’s services include debt portfolio acquisition and account recovery, with collection approaches that may involve direct customer contact, negotiated repayment arrangements and legal processes, subject to applicable regulations.