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

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

Several research analysts recently weighed in on PRAA shares. Wall Street Zen lowered 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 note on Wednesday, June 24th.

PRA Group Price Performance

PRA Group stock opened at $16.90 on Thursday. PRA Group has a fifty-two week low of $10.25 and a fifty-two week high of $22.55. The firm’s 50 day simple moving average is $16.43 and its 200-day simple moving average is $16.55. The company has a market cap of $644.57 million, a P/E ratio of -2.36 and a beta of 1.10.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results 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 negative net margin of 22.51% and a positive return on equity of 13.19%. The business had revenue of $314.53 million during the quarter, compared to the consensus estimate of $295.90 million. On average, analysts expect that PRA Group will post 2.52 EPS for the current fiscal year.

Institutional Investors Weigh In On PRA Group

Institutional investors and hedge funds have recently modified their holdings of the business. Topline Capital Management LLC lifted its holdings in PRA Group by 168.3% in the 2nd quarter. Topline Capital Management LLC now owns 2,250,629 shares of the business services provider’s stock worth $33,197,000 after purchasing an additional 1,411,707 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in PRA Group by 401.6% during 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 purchasing an additional 481,538 shares during the last quarter. Millennium Management LLC raised its position in shares of PRA Group by 242.6% in the fourth quarter. Millennium Management LLC now owns 464,320 shares of the business services provider’s stock valued at $8,214,000 after purchasing an additional 328,804 shares during the period. Jane Street Group LLC raised its position in shares of PRA Group by 256.7% in the fourth quarter. Jane Street Group LLC now owns 397,207 shares of the business services provider’s stock valued at $7,027,000 after purchasing an additional 285,858 shares during the period. Finally, Ameriprise Financial Inc. lifted its stake in shares of PRA Group by 130.9% in the second quarter. Ameriprise Financial Inc. now owns 428,135 shares of the business services provider’s stock worth $6,315,000 after buying an additional 242,721 shares during the last quarter. Institutional investors and hedge funds 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.