William Blair Reiterates “Outperform” Rating for PRA Group Inc. (PRAA)
PRA Group Inc. (NASDAQ:PRAA)‘s stock had its “outperform” rating reiterated by equities researchers at William Blair in a research report issued on Tuesday.
PRAA has been the topic of several other research reports. Zacks Investment Research raised PRA Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 9th. First Analysis assumed coverage on PRA Group in a research note on Tuesday, June 7th. They issued an “overweight” rating on the stock. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $32.25.
Shares of PRA Group (NASDAQ:PRAA) opened at 33.72 on Tuesday. The stock’s 50 day moving average price is $30.36 and its 200-day moving average price is $28.56. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 12.55 and a beta of 1.41. PRA Group has a 1-year low of $20.00 and a 1-year high of $56.00.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.83 EPS for the quarter, hitting the consensus estimate of $0.83. PRA Group had a return on equity of 19.50% and a net margin of 13.89%. The firm had revenue of $228.50 million for the quarter, compared to the consensus estimate of $227.92 million. During the same quarter last year, the company earned $1.06 earnings per share. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. On average, equities research analysts forecast that PRA Group will post $2.96 earnings per share for the current year.
In other PRA Group news, insider Michael J. Petit sold 3,000 shares of PRA Group stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $28.11, for a total value of $84,330.00. Following the sale, the insider now owns 125,157 shares of the company’s stock, valued at approximately $3,518,163.27. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Michael J. Petit sold 8,300 shares of PRA Group stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $28.93, for a total value of $240,119.00. Following the completion of the sale, the insider now directly owns 116,857 shares in the company, valued at approximately $3,380,673.01. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in PRAA. Norges Bank purchased a new stake in PRA Group during the fourth quarter worth about $12,769,000. Summit Creek Advisors LLC increased its stake in PRA Group by 6.8% in the first quarter. Summit Creek Advisors LLC now owns 152,020 shares of the company’s stock worth $4,468,000 after buying an additional 9,680 shares during the last quarter. Apex Capital Management increased its stake in PRA Group by 21.3% in the first quarter. Apex Capital Management now owns 232,659 shares of the company’s stock worth $6,838,000 after buying an additional 40,868 shares during the last quarter. Icon Advisers Inc. Co. increased its stake in PRA Group by 19.3% in the first quarter. Icon Advisers Inc. Co. now owns 23,800 shares of the company’s stock worth $699,000 after buying an additional 3,847 shares during the last quarter. Finally, Ngam Advisors L.P. increased its stake in PRA Group by 14.3% in the first quarter. Ngam Advisors L.P. now owns 15,922 shares of the company’s stock worth $468,000 after buying an additional 1,987 shares during the last quarter.
About PRA Group
PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.
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