Citigroup Inc. Lowers PRA Group, Inc. (PRAA) to Underperform
PRA Group, Inc. (NASDAQ:PRAA) was downgraded by equities researchers at Citigroup Inc. to an “underperform” rating in a research report issued on Thursday, The Fly reports.
Several other equities research analysts have also recently weighed in on the company. Keefe, Bruyette & Woods started coverage on PRA Group in a research note on Wednesday, May 24th. They set an “outperform” rating and a $40.00 price objective on the stock. BidaskClub cut PRA Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Zacks Investment Research cut PRA Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. PRA Group currently has a consensus rating of “Hold” and an average price target of $38.00.
PRA Group (NASDAQ:PRAA) traded down 4.52% during trading on Thursday, reaching $27.45. The company had a trading volume of 1,223,636 shares. The firm’s 50 day moving average is $31.53 and its 200 day moving average is $34.35. PRA Group has a one year low of $23.15 and a one year high of $42.70. The company has a market capitalization of $1.24 billion, a PE ratio of 16.74 and a beta of 1.50.
PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ 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 for the quarter, compared to the consensus estimate of $208.97 million. During the same period in the previous year, the firm earned $0.83 earnings per share. The company’s revenue was down 12.3% compared to the same quarter last year. On average, equities research analysts predict that PRA Group will post $2.09 earnings per share for the current year.
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Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its stake in shares of PRA Group by 10.7% during 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 during the last quarter. 1st Global Advisors Inc. grew its stake in shares of PRA Group by 7.8% during 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 during the last quarter. Grandeur Peak Global Advisors LLC grew its stake in shares of PRA Group by 7.5% during 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 during the last quarter. Piedmont Investment Advisors LLC bought a new position in shares of PRA Group during the second quarter valued at approximately $1,102,000. Finally, Sterling Capital Management LLC grew its stake in shares of PRA Group by 17.6% during 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 during the last quarter.
About PRA Group
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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