PRA Group (NASDAQ:PRAA) Cut to “Hold” at Zacks Research

Zacks Research lowered shares of PRA Group (NASDAQ:PRAA) from a strong-buy rating to a hold rating in a research report sent to investors on Tuesday morning,Zacks reports.

Several other brokerages also recently weighed in on PRAA. Wall Street Zen raised PRA Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Weiss Ratings reiterated a “sell (d)” rating on shares of PRA Group in a research report on Monday, September 21st. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.00.

PRA Group Stock Up 0.2%

Shares of PRA Group stock opened at $20.32 on Tuesday. PRA Group has a twelve month low of $10.25 and a twelve month high of $22.55. The business has a 50-day moving average price of $19.38 and a 200 day moving average price of $18.24. The firm has a market cap of $765.05 million, a PE ratio of -3.02 and a beta of 1.13.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.99. The company had revenue of $372.17 million during the quarter, compared to analysts’ expectations of $299.99 million. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%. On average, sell-side analysts expect that PRA Group will post 3.93 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Meeder Asset Management Inc. purchased a new stake in PRA Group during the 2nd quarter worth approximately $49,000. EverSource Wealth Advisors LLC raised its holdings in shares of PRA Group by 49.6% during 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 last quarter. Fifth Third Bancorp lifted its position in shares of PRA Group by 7,735.7% in the first quarter. Fifth Third Bancorp now owns 9,011 shares of the business services provider’s stock valued at $158,000 after acquiring an additional 8,896 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of PRA Group in the second quarter valued at approximately $192,000. Finally, Globeflex Capital L P acquired a new stake in shares of PRA Group in the second quarter worth approximately $208,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

PRA Group Company Profile

PRA Group, Inc is a global financial services company that purchases portfolios of nonperforming consumer accounts from banks, credit unions and other lenders. The company works with consumers to resolve outstanding obligations through a range of repayment and account-management arrangements.

Its business includes the acquisition, servicing and collection of unpaid consumer loans and other receivables. PRA Group also provides related portfolio-management and consulting services, using data analysis and customer-focused communication to manage accounts throughout their recovery cycle.

Founded in 1996 and headquartered in Norfolk, Virginia, PRA Group serves consumers and financial institutions across North America, Europe and Australia.