PRA Group, Inc. (PRAA) Receives Average Recommendation of “Hold” from Analysts
Shares of PRA Group, Inc. (NASDAQ:PRAA) have been given a consensus recommendation of “Hold” by the seven brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $41.00.
A number of brokerages have commented on PRAA. Keefe, Bruyette & Woods began coverage on shares of PRA Group in a research note on Wednesday, May 24th. They set an “outperform” rating and a $40.00 price target for the company. Zacks Investment Research cut shares of PRA Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Finally, BidaskClub upgraded shares of PRA Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th.
PRA Group (NASDAQ:PRAA) traded up 2.56% during trading on Tuesday, hitting $40.05. The stock had a trading volume of 723,830 shares. The stock has a 50-day moving average price of $38.01 and a 200-day moving average price of $36.35. The company has a market cap of $1.86 billion, a PE ratio of 18.43 and a beta of 1.49. PRA Group has a 52 week low of $23.15 and a 52 week high of $42.70.
PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Tuesday, May 9th. The business services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by $0.06. The business had revenue of $206.56 million for the quarter, compared to the consensus estimate of $198.48 million. PRA Group had a return on equity of 7.57% and a net margin of 12.47%. The firm’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 EPS. Equities analysts predict that PRA Group will post $2.05 EPS for the current year.
In other PRA Group news, Director Geir Olsen purchased 142,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was purchased at an average price of $34.55 per share, for a total transaction of $4,906,100.00. Following the completion of the purchase, the director now directly owns 27,162 shares in the company, valued at $938,447.10. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Parkside Financial Bank & Trust boosted its position in PRA Group by 12.6% in the first quarter. Parkside Financial Bank & Trust now owns 3,243 shares of the business services provider’s stock worth $107,000 after buying an additional 364 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PRA Group by 12.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,829 shares of the business services provider’s stock worth $107,000 after buying an additional 304 shares during the period. Independence Advisors LLC purchased a new position in PRA Group during the second quarter worth about $112,000. Huntington National Bank boosted its position in PRA Group by 5.5% in the second quarter. Huntington National Bank now owns 3,084 shares of the business services provider’s stock worth $117,000 after buying an additional 162 shares during the period. Finally, Quantbot Technologies LP purchased a new position in PRA Group during the first quarter worth about $125,000.
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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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