Pra Group (PRAA) Posts Earnings Results, Misses Expectations By $0.13 EPS

Pra Group (NASDAQ:PRAA) released its earnings results on Thursday. The business services provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.13), Briefing.com reports. The firm had revenue of $225.90 million for the quarter, compared to the consensus estimate of $223.81 million. Pra Group had a return on equity of 6.41% and a net margin of 16.81%. The company’s revenue was up 10.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS.

NASDAQ PRAA traded down $3.61 on Friday, reaching $28.19. The company had a trading volume of 1,689,997 shares, compared to its average volume of 299,841. The company has a market capitalization of $1.44 billion, a PE ratio of 21.20 and a beta of 1.60. Pra Group has a 52 week low of $26.95 and a 52 week high of $43.75.

A number of equities research analysts have recently weighed in on PRAA shares. BidaskClub downgraded Pra Group from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd. ValuEngine downgraded Pra Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Zacks Investment Research upgraded Pra Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Keefe, Bruyette & Woods set a $35.00 target price on Pra Group and gave the stock a “hold” rating in a research report on Thursday, August 9th. Finally, Oppenheimer reiterated a “hold” rating on shares of Pra Group in a report on Thursday, August 9th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Pra Group presently has a consensus rating of “Hold” and a consensus target price of $35.00.

In related news, Director Geir Olsen sold 119,604 shares of the company’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $37.41, for a total value of $4,474,385.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher D. Lagow sold 1,474 shares of the company’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $37.70, for a total value of $55,569.80. Following the completion of the sale, the senior vice president now owns 18,273 shares of the company’s stock, valued at approximately $688,892.10. The disclosure for this sale can be found here. Insiders sold 289,414 shares of company stock valued at $10,935,452 in the last quarter. 2.34% of the stock is currently owned by corporate insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. American Research & Management Co. acquired a new position in Pra Group in the second quarter valued at about $110,000. GAM Holding AG acquired a new position in Pra Group in the second quarter valued at about $214,000. Handelsbanken Fonder AB acquired a new position in Pra Group in the second quarter valued at about $236,000. Chicago Capital LLC acquired a new position in Pra Group in the second quarter valued at about $261,000. Finally, Xact Kapitalforvaltning AB acquired a new position in Pra Group in the first quarter valued at about $262,000.

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About Pra Group

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans in the Americas and Europe. It is involved in the acquisition of accounts that are primarily the unpaid obligations of individuals owed to credit grantors, which include banks and other types of consumer, retail, and auto finance companies.

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Earnings History for Pra Group (NASDAQ:PRAA)

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