William Blair Reaffirms “Outperform” Rating for PRA Group Inc. (PRAA)
PRA Group Inc. (NASDAQ:PRAA)‘s stock had its “outperform” rating reaffirmed by equities researchers at William Blair in a research report issued on Tuesday.
A number of other research analysts have also weighed in on PRAA. Zacks Investment Research raised PRA Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. First Analysis started coverage on PRA Group in a report on Tuesday, June 7th. They set an “overweight” rating on the stock. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $32.25.
PRA Group (NASDAQ:PRAA) opened at 34.29 on Tuesday. The company has a market capitalization of $1.59 billion, a PE ratio of 12.76 and a beta of 1.41. PRA Group has a one year low of $20.00 and a one year high of $56.00. The firm’s 50 day moving average price is $30.00 and its 200-day moving average price is $28.48.
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PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.83. PRA Group had a return on equity of 19.50% and a net margin of 13.89%. The company had revenue of $228.50 million for the quarter, compared to analysts’ expectations of $227.92 million. During the same quarter in the prior year, the business posted $1.06 EPS. The business’s revenue was down 3.7% compared to the same quarter last year. Equities analysts forecast that PRA Group will post $2.95 earnings per share for the current fiscal year.
In other PRA Group news, insider Michael J. Petit sold 3,000 shares of the company’s stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $28.11, for a total value of $84,330.00. Following the transaction, the insider now directly owns 125,157 shares of the company’s stock, valued at approximately $3,518,163.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Michael J. Petit sold 8,300 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $28.93, for a total value of $240,119.00. Following the completion of the transaction, the insider now directly owns 116,857 shares in the company, valued at $3,380,673.01. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Legal & General Group Plc raised its position in shares of PRA Group by 40.9% in the first quarter. Legal & General Group Plc now owns 12,659 shares of the company’s stock worth $371,000 after buying an additional 3,676 shares in the last quarter. Renaissance Technologies LLC bought a new stake in PRA Group during the first quarter valued at about $2,113,000. Global Alpha Capital Management Ltd. raised its stake in PRA Group by 46.1% in the first quarter. Global Alpha Capital Management Ltd. now owns 143,900 shares of the company’s stock valued at $4,229,000 after buying an additional 45,400 shares during the period. State Street Corp raised its stake in PRA Group by 1.1% in the first quarter. State Street Corp now owns 1,003,888 shares of the company’s stock valued at $29,511,000 after buying an additional 10,672 shares during the period. Finally, Huntington Asset Advisors Inc. bought a new stake in PRA Group during the first quarter valued at about $367,000.
PRA Group Company Profile
PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.
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