PRA Group, Inc. (PRAA) Rating Lowered to Hold at BidaskClub
PRA Group, Inc. (NASDAQ:PRAA) was downgraded by BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Friday.
PRAA has been the topic of several other research reports. Zacks Investment Research raised PRA Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Keefe, Bruyette & Woods initiated coverage on PRA Group in a research note on Wednesday, May 24th. They issued an “outperform” rating and a $40.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $38.00.
PRA Group (PRAA) traded down 1.14% on Friday, reaching $30.35. The company’s stock had a trading volume of 650,479 shares. PRA Group has a one year low of $23.15 and a one year high of $42.70. The stock has a 50-day moving average of $37.21 and a 200-day moving average of $36.05. The stock has a market cap of $1.37 billion, a P/E ratio of 18.51 and a beta of 1.49.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.48 by $0.23. PRA Group had a return on equity of 4.69% and a net margin of 9.76%. The company had revenue of $200.30 million during the quarter, compared to the consensus estimate of $208.97 million. During the same period last year, the business earned $0.83 EPS. The firm’s quarterly revenue was down 12.3% compared to the same quarter last year. On average, analysts predict that PRA Group will post $2.09 EPS for the current fiscal year.
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In other PRA Group news, Director Geir Olsen bought 142,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 27,162 shares of the company’s stock, valued at approximately $938,447.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.10% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio boosted its position in PRA Group by 10.7% in the second quarter. Public Employees Retirement System of Ohio now owns 3,150 shares of the business services provider’s stock valued at $119,000 after buying an additional 305 shares in the last quarter. 1st Global Advisors Inc. boosted its position in PRA Group by 7.8% in the second quarter. 1st Global Advisors Inc. now owns 13,035 shares of the business services provider’s stock valued at $494,000 after buying an additional 938 shares in the last quarter. Grandeur Peak Global Advisors LLC boosted its position in PRA Group by 7.5% in the second quarter. Grandeur Peak Global Advisors LLC now owns 286,975 shares of the business services provider’s stock valued at $10,876,000 after buying an additional 20,025 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in PRA Group during the second quarter valued at $1,102,000. Finally, Sterling Capital Management LLC boosted its position in PRA Group by 17.6% in the second quarter. Sterling Capital Management LLC now owns 49,013 shares of the business services provider’s stock valued at $1,858,000 after buying an additional 7,322 shares in the last quarter.
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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