Insider Selling: Michael J. Petit Sells 1,313 Shares of Portfolio Recovery Associates Stock (PRAA)
Portfolio Recovery Associates (NASDAQ:PRAA) Insider Michael J. Petit sold 1,313 shares of the stock on the open market in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $59.95, for a total value of $78,714.35. Following the sale, the insider now directly owns 104,437 shares in the company, valued at approximately $6,260,998. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on PRAA. Analysts at Janney Montgomery Scott upgraded shares of Portfolio Recovery Associates from a “neutral” rating to a “buy” rating in a research note on Friday, May 23rd. They now have a $60.00 price target on the stock. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Portfolio Recovery Associates in a research note on Friday, May 2nd. They now have a $59.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Portfolio Recovery Associates in a research note on Tuesday, April 15th. They now have a $60.00 price target on the stock.
Shares of Portfolio Recovery Associates (NASDAQ:PRAA) traded up 0.49% on Friday, hitting $59.50. 141,049 shares of the company’s stock traded hands. Portfolio Recovery Associates has a 52-week low of $45.8267 and a 52-week high of $63.96. The stock has a 50-day moving average of $56.33 and a 200-day moving average of $54.95. The company has a market cap of $2.979 billion and a price-to-earnings ratio of 16.86.
Portfolio Recovery Associates (NASDAQ:PRAA) last released its earnings data on Wednesday, April 30th. The company reported $0.86 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.87 by $0.01. The company had revenue of $193.90 million for the quarter, compared to the consensus estimate of $193.68 million. On average, analysts predict that Portfolio Recovery Associates will post $3.98 earnings per share for the current fiscal year.
Portfolio Recovery Associates, Inc (NASDAQ:PRAA) is engaged in the detection, collection and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, governments, retailers and others.
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