PRA Group (NASDAQ:PRAA) Stock Rating Lowered by Citizens Jmp

PRA Group (NASDAQ:PRAA) was downgraded by research analysts at Citizens Jmp from a “market outperform” rating to a “market perform” rating in a research report issued on Wednesday, Marketbeat Ratings reports.

Other analysts have also recently issued reports about the stock. Citigroup cut shares of PRA Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a research report on Monday, December 29th. Truist Financial dropped their target price on PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. Finally, Zacks Research lowered PRA Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Two research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $25.00.

PRA Group Stock Performance

PRAA opened at $12.79 on Wednesday. PRA Group has a 1 year low of $12.29 and a 1 year high of $23.97. The firm has a 50 day moving average price of $16.72 and a 200 day moving average price of $15.98. The company has a market cap of $498.94 million, a PE ratio of -1.46 and a beta of 1.33.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, November 3rd. The business services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. PRA Group had a negative net margin of 29.55% and a positive return on equity of 7.03%. The firm had revenue of $247.08 million for the quarter, compared to analysts’ expectations of $295.77 million. On average, sell-side analysts predict that PRA Group will post 2.1 earnings per share for the current year.

Insiders Place Their Bets

In other PRA Group news, Director Geir Olsen acquired 15,000 shares of the company’s stock in a transaction on Thursday, November 6th. The shares were bought at an average cost of $14.15 per share, for a total transaction of $212,250.00. Following the acquisition, the director directly owned 58,933 shares of the company’s stock, valued at $833,901.95. This trade represents a 34.14% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is currently owned by company insiders.

Institutional Trading of PRA Group

A number of hedge funds have recently made changes to their positions in PRAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PRA Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider’s stock worth $476,000 after buying an additional 1,020 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in PRA Group by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,004 shares of the business services provider’s stock worth $2,248,000 after acquiring an additional 4,010 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in PRA Group by 2,650.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 43,708 shares of the business services provider’s stock worth $645,000 after acquiring an additional 42,119 shares in the last quarter. State of Alaska Department of Revenue increased its position in shares of PRA Group by 8.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 23,622 shares of the business services provider’s stock worth $347,000 after purchasing an additional 1,775 shares during the last quarter. Finally, US Bancorp DE raised its stake in shares of PRA Group by 34.0% in the 2nd quarter. US Bancorp DE now owns 39,556 shares of the business services provider’s stock valued at $583,000 after purchasing an additional 10,036 shares in the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

PRA Group Company Profile

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.