PRA Group (NASDAQ:PRAA) Downgraded by Wall Street Zen to “Buy”

Wall Street Zen downgraded shares of PRA Group (NASDAQ:PRAA) from a strong-buy rating to a buy rating in a report released on Sunday morning,Wall Street Zen reports.

A number of other analysts also recently issued reports on the company. Zacks Research downgraded PRA Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Weiss Ratings upgraded PRA Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PRA Group presently has a consensus rating of “Hold” and an average price target of $26.00.

PRA Group Stock Performance

NASDAQ PRAA opened at $19.49 on Friday. PRA Group has a one year low of $10.25 and a one year high of $22.55. The company’s 50 day moving average price is $19.65 and its 200 day moving average price is $17.53. The firm has a market capitalization of $733.80 million, a price-to-earnings ratio of -2.90 and a beta of 1.15.

PRA Group (NASDAQ:PRAA) last issued 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. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. The company had revenue of $372.17 million during the quarter, compared to analyst estimates of $299.99 million. Sell-side analysts forecast that PRA Group will post 3.93 EPS for the current fiscal year.

Institutional Investors Weigh In On PRA Group

Institutional investors have recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in PRA Group during the third quarter worth approximately $30,000. Meeder Asset Management Inc. acquired a new stake in shares of PRA Group in the second quarter valued at $49,000. EverSource Wealth Advisors LLC boosted its stake in PRA Group by 49.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,711 shares of the business services provider’s stock worth $65,000 after purchasing an additional 1,230 shares during the period. Fifth Third Bancorp lifted its holdings in shares of PRA Group by 7,735.7% during the 1st quarter. Fifth Third Bancorp now owns 9,011 shares of the business services provider’s stock valued at $158,000 after buying an additional 8,896 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in PRA Group in the 2nd quarter valued at $192,000. Hedge funds and other 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 manages portfolios of defaulted consumer accounts. The company works with individuals to help resolve outstanding obligations and provides account management, customer service and debt recovery solutions for acquired portfolios.

The company serves consumers and financial institutions across North America, Europe and Australia. Its activities include acquiring nonperforming consumer debt from banks, credit card companies and other financial institutions, as well as servicing portfolios on behalf of third parties in selected markets.

PRA Group was founded in 1996 and is headquartered in Norfolk, Virginia.