Pra Group (NASDAQ:PRAA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “PRA Group’s shares have outperformed the industry in a year’s time. Its continued favorable performance of the fee-for-service business instills optimism. Several strategic acquisitions and alliances position the company well for long-term growth. PRA Group’s financial health also impresses.The company has seen its Zacks Consensus Estimate for 2018 earnings being revised upward in the past 30 days. Its fourth-quarter 2017 earnings per share missed the Zacks Consensus Estimate but rose year over year on the back of higher revenues. However, its rising level of expenses continues to weigh on the company’s bottom line. Increasing interest expenses have also been putting pressure on the its profitability.”
Several other analysts have also issued reports on PRAA. UBS Group started coverage on shares of Pra Group in a report on Monday, January 8th. They issued a “market perform” rating on the stock. Oppenheimer started coverage on shares of Pra Group in a report on Monday, January 8th. They issued a “hold” rating on the stock. BidaskClub lowered shares of Pra Group from a “hold” rating to a “sell” rating in a report on Saturday, January 20th. William Blair restated an “outperform” rating on shares of Pra Group in a report on Tuesday, February 20th. Finally, Raymond James Financial upgraded shares of Pra Group from an “underperform” rating to a “market perform” rating in a report on Wednesday, February 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Pra Group currently has an average rating of “Hold” and a consensus price target of $40.00.
Pra Group (NASDAQ:PRAA) last issued its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.37 by ($0.01). The company had revenue of $205.67 million during the quarter, compared to analysts’ expectations of $195.56 million. Pra Group had a net margin of 19.94% and a return on equity of 5.83%. equities analysts predict that Pra Group will post 1.77 EPS for the current year.
In other Pra Group news, Director Penelope W. Kyle sold 1,975 shares of the business’s stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $33.45, for a total transaction of $66,063.75. Following the sale, the director now directly owns 36,425 shares in the company, valued at $1,218,416.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.10% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Sterling Capital Management LLC increased its stake in Pra Group by 9.7% during the fourth quarter. Sterling Capital Management LLC now owns 62,229 shares of the business services provider’s stock worth $2,066,000 after purchasing an additional 5,504 shares during the period. MetLife Investment Advisors LLC acquired a new position in shares of Pra Group during the fourth quarter worth about $644,000. Jane Street Group LLC acquired a new position in shares of Pra Group during the fourth quarter worth about $377,000. Millennium Management LLC grew its position in shares of Pra Group by 168.1% during the fourth quarter. Millennium Management LLC now owns 308,370 shares of the business services provider’s stock worth $10,238,000 after buying an additional 193,368 shares in the last quarter. Finally, Teachers Advisors LLC grew its position in shares of Pra Group by 6.3% during the fourth quarter. Teachers Advisors LLC now owns 89,096 shares of the business services provider’s stock worth $2,958,000 after buying an additional 5,277 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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