Janney Montgomery Scott Lowers PRA Group, Inc. (PRAA) to Sell
Janney Montgomery Scott lowered shares of PRA Group, Inc. (NASDAQ:PRAA) from a neutral rating to a sell rating in a report published on Wednesday morning, MarketBeat reports.
Several other research firms have also issued reports on PRAA. Zacks Investment Research lowered PRA Group from a hold rating to a sell rating in a research note on Thursday, July 13th. BidaskClub lowered PRA Group from a buy rating to a hold rating in a research note on Tuesday, July 25th. Raymond James Financial, Inc. reissued an underperform rating on shares of PRA Group in a research note on Thursday, September 21st. Finally, Citigroup Inc. lowered PRA Group to an underperform rating in a research note on Thursday, September 21st. Four investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $38.00.
Shares of PRA Group (NASDAQ PRAA) traded up 1.73% during trading on Wednesday, hitting $29.35. The stock had a trading volume of 503,880 shares. PRA Group has a 12 month low of $23.15 and a 12 month high of $42.70. The stock has a market cap of $1.33 billion, a price-to-earnings ratio of 17.90 and a beta of 1.49. The company’s 50 day moving average price is $28.98 and its 200 day moving average price is $33.85.
PRA Group (NASDAQ:PRAA) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.23). PRA Group had a return on equity of 4.69% and a net margin of 9.76%. The firm had revenue of $200.30 million for the quarter, compared to analyst estimates of $208.97 million. During the same period in the previous year, the company posted $0.83 EPS. PRA Group’s revenue was down 12.3% on a year-over-year basis. Equities research analysts expect that PRA Group will post $1.85 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently modified their holdings of PRAA. First Trust Advisors LP increased its holdings in PRA Group by 15.5% during the 1st quarter. First Trust Advisors LP now owns 52,632 shares of the business services provider’s stock worth $1,745,000 after purchasing an additional 7,080 shares during the period. Comerica Bank increased its holdings in PRA Group by 3.4% during the 1st quarter. Comerica Bank now owns 52,098 shares of the business services provider’s stock worth $1,701,000 after purchasing an additional 1,727 shares during the period. Swiss National Bank increased its holdings in PRA Group by 2.6% during the 1st quarter. Swiss National Bank now owns 76,400 shares of the business services provider’s stock worth $2,533,000 after purchasing an additional 1,900 shares during the period. UBS Asset Management Americas Inc. increased its holdings in PRA Group by 18.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 24,473 shares of the business services provider’s stock worth $811,000 after purchasing an additional 3,731 shares during the period. Finally, Karp Capital Management Corp purchased a new stake in PRA Group during the 1st quarter worth about $438,000.
PRA Group Company Profile
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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