Pra Group (NASDAQ:PRAA) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Wednesday.
According to Zacks, “PRA Group’s shares have outperformed the industry in last three months. The company’s continued favorable performance of the fee-for-service business instills optimism. Several strategic acquisitions and alliances positioned the company well for long term growth. The company’s financial health also impresses. However, the company’s rising level of expenses continues to weigh on the bottom line. Increasing interest expenses has also been putting pressure on the company's profitability. PRA Group is also witnessing softness in its Receivable Income & Cash Collection businesses that continue to affect its underwriting results.”
Other research analysts have also issued research reports about the company. UBS Group assumed coverage on Pra Group in a report on Monday, January 8th. They issued a “market perform” rating on the stock. BidaskClub lowered Pra Group from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. Oppenheimer assumed coverage on Pra Group in a report on Monday, January 8th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods lowered Pra Group from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $36.00 to $40.00 in a report on Tuesday, October 10th. Finally, Janney Montgomery Scott lowered Pra Group from a “neutral” rating to a “sell” rating in a report on Wednesday, October 4th. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Pra Group has an average rating of “Hold” and a consensus price target of $40.00.
Pra Group (NASDAQ:PRAA) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.04). The firm had revenue of $201.00 million during the quarter, compared to the consensus estimate of $196.96 million. Pra Group had a return on equity of 2.98% and a net margin of 7.57%. The firm’s revenue was down 9.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.68 EPS. equities analysts predict that Pra Group will post 1.38 earnings per share for the current year.
In other news, Director Penelope W. Kyle sold 1,975 shares of the firm’s stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $33.45, for a total value of $66,063.75. Following the transaction, the director now owns 36,425 shares in the company, valued at $1,218,416.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by company insiders.
Several hedge funds have recently bought and sold shares of the company. Amalgamated Bank lifted its holdings in shares of Pra Group by 2.5% in the second quarter. Amalgamated Bank now owns 6,393 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 154 shares in the last quarter. Advisor Group Inc. lifted its holdings in shares of Pra Group by 3.5% in the second quarter. Advisor Group Inc. now owns 5,829 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 196 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of 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 purchasing an additional 305 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in Pra Group by 0.3% during the second quarter. Ameriprise Financial Inc. now owns 247,933 shares of the business services provider’s stock worth $9,397,000 after acquiring an additional 657 shares during the period. Finally, 1st Global Advisors Inc. lifted its holdings in 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 worth $494,000 after acquiring an additional 938 shares during the period.
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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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