PRA Group, Inc. (PRAA) Upgraded to “Buy” at BidaskClub
PRA Group, Inc. (NASDAQ:PRAA) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.
A number of other brokerages also recently weighed in on PRAA. Zacks Investment Research raised shares of PRA Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Keefe, Bruyette & Woods started coverage on shares of PRA Group in a report on Wednesday, May 24th. They set an “outperform” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. PRA Group presently has a consensus rating of “Buy” and a consensus target price of $38.00.
PRA Group (NASDAQ PRAA) traded down 4.414% during mid-day trading on Thursday, hitting $33.025. 121,864 shares of the stock traded hands. PRA Group has a 52 week low of $23.15 and a 52 week high of $42.70. The firm’s 50-day moving average price is $38.33 and its 200-day moving average price is $36.37. The firm has a market cap of $1.52 billion, a P/E ratio of 20.137 and a beta of 1.49.
PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.48 by $0.23. PRA Group had a return on equity of 4.75% and a net margin of 9.76%. The firm had revenue of $200.30 million for the quarter, compared to the consensus estimate of $208.97 million. During the same period last year, the company posted $0.83 EPS. The business’s revenue was down 12.3% on a year-over-year basis. On average, equities analysts forecast that PRA Group will post $1.94 earnings per share for the current fiscal year.
In other news, Director Geir Olsen purchased 142,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The stock was bought at an average price of $34.55 per share, with a total value of $4,906,100.00. Following the acquisition, the director now owns 27,162 shares in the company, valued at approximately $938,447.10. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.10% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its position in PRA Group by 53,101.9% in the first quarter. BlackRock Inc. now owns 6,007,031 shares of the business services provider’s stock worth $199,134,000 after buying an additional 5,995,740 shares in the last quarter. Turtle Creek Asset Management Inc. boosted its position in PRA Group by 104.0% in the first quarter. Turtle Creek Asset Management Inc. now owns 4,303,119 shares of the business services provider’s stock worth $142,648,000 after buying an additional 2,194,100 shares in the last quarter. Vanguard Group Inc. boosted its position in PRA Group by 9.4% in the first quarter. Vanguard Group Inc. now owns 4,186,390 shares of the business services provider’s stock worth $138,779,000 after buying an additional 360,823 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in PRA Group by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,526,255 shares of the business services provider’s stock worth $50,595,000 after buying an additional 215,028 shares in the last quarter. Finally, WS Management Lllp boosted its position in PRA Group by 12.3% in the first quarter. WS Management Lllp now owns 1,346,870 shares of the business services provider’s stock worth $44,649,000 after buying an additional 147,230 shares in the last quarter.
About PRA Group
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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