Pra Group Inc (PRAA) Director Geir Olsen Acquires 142,000 Shares
Pra Group Inc (NASDAQ:PRAA) Director Geir Olsen purchased 142,000 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The shares were bought at an average cost of $34.55 per share, with a total value of $4,906,100.00. Following the purchase, the director now directly owns 27,162 shares of the company’s stock, valued at approximately $938,447.10. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link.
Geir Olsen also recently made the following trade(s):
- On Friday, March 17th, Geir Olsen purchased 143,000 shares of Pra Group stock. The shares were bought at an average cost of $34.84 per share, with a total value of $4,982,120.00.
Shares of Pra Group Inc (NASDAQ:PRAA) traded up 2.73% during trading on Thursday, reaching $35.70. 59,415 shares of the company traded hands. Pra Group Inc has a 52 week low of $21.93 and a 52 week high of $42.70. The firm’s 50 day moving average price is $33.76 and its 200-day moving average price is $35.81. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 16.43 and a beta of 1.49.
Pra Group (NASDAQ:PRAA) last released its earnings results on Tuesday, May 9th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.44 by $0.06. The business had revenue of $206.56 million for the quarter, compared to analyst estimates of $198.48 million. Pra Group had a return on equity of 17.26% and a net margin of 15.87%. Pra Group’s quarterly revenue was down 8.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.85 earnings per share. Equities analysts anticipate that Pra Group Inc will post $2.03 EPS for the current fiscal year.
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Large investors have recently added to or reduced their stakes in the company. BlackRock Inc. raised its stake 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 during the period. Turtle Creek Asset Management Inc. raised its stake in shares of 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 during the last quarter. Chartwell Investment Partners LLC purchased a new stake in shares of Pra Group during the third quarter worth $17,810,000. Norges Bank purchased a new stake in shares of Pra Group during the fourth quarter worth $18,549,000. Finally, Cortina Asset Management LLC purchased a new stake in shares of Pra Group during the fourth quarter worth $17,299,000.
Several research firms have recently weighed in on PRAA. Keefe, Bruyette & Woods began coverage on shares of Pra Group in a research note on Wednesday. They set an “outperform” rating and a $40.00 price target for the company. Zacks Investment Research raised shares of Pra Group from a “strong sell” rating to a “hold” rating in a report on Friday, March 3rd. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Pra Group currently has an average rating of “Buy” and a consensus target price of $38.00.
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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