PRA Group (NASDAQ:PRAA) Hits New 12-Month High – Here’s Why

PRA Group, Inc. (NASDAQ:PRAA)’s stock price hit a new 52-week high on Monday . The company traded as high as $22.55 and last traded at $22.2050, with a volume of 458699 shares traded. The stock had previously closed at $22.23.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Citizens Jmp lowered shares of PRA Group from a “market outperform” rating to a “market perform” rating in a research report on Wednesday, January 28th. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a report on Friday, March 27th. Finally, Citigroup lowered shares of PRA Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 28th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.00.

PRA Group Stock Performance

The business’s fifty day moving average is $18.20 and its two-hundred day moving average is $16.27. The company has a market cap of $815.43 million, a P/E ratio of -2.74 and a beta of 1.26.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Thursday, February 26th. The business services provider reported $1.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.96. PRA Group had a negative net margin of 25.39% and a positive return on equity of 10.50%. The company had revenue of $333.39 million during the quarter, compared to analyst estimates of $288.86 million. Analysts expect that PRA Group, Inc. will post 2.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PRAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in PRA Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider’s stock valued at $476,000 after purchasing an additional 1,020 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in PRA Group by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,004 shares of the business services provider’s stock valued at $2,248,000 after purchasing an additional 4,010 shares during the period. Cetera Investment Advisers increased its position in PRA Group by 28.8% during the 2nd quarter. Cetera Investment Advisers now owns 14,446 shares of the business services provider’s stock valued at $213,000 after purchasing an additional 3,229 shares during the period. JPMorgan Chase & Co. increased its position in PRA Group by 59.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 217,861 shares of the business services provider’s stock valued at $3,213,000 after purchasing an additional 80,945 shares during the period. Finally, Invesco Ltd. increased its position in PRA Group by 15.5% during the 2nd quarter. Invesco Ltd. now owns 819,742 shares of the business services provider’s stock valued at $12,091,000 after purchasing an additional 109,857 shares during the period. Hedge funds and other institutional investors 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.