PRA Group, Inc. (NASDAQ:PRAA) Receives Consensus Recommendation of “Hold” from Analysts

PRA Group, Inc. (NASDAQ:PRAA) has received an average recommendation of “Hold” from the five brokerages that are currently covering the company, Marketbeat reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $25.00.

A number of research analysts recently issued reports on the company. Wall Street Zen cut PRA Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Weiss Ratings reissued a “sell (d)” rating on shares of PRA Group in a report on Wednesday, June 24th.

PRA Group Price Performance

NASDAQ PRAA opened at $17.37 on Thursday. The stock’s 50 day simple moving average is $16.37 and its 200 day simple moving average is $16.55. PRA Group has a one year low of $10.25 and a one year high of $22.55. The firm has a market cap of $662.49 million, a PE ratio of -2.43 and a beta of 1.10.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.22. The firm had revenue of $314.53 million during the quarter, compared to the consensus estimate of $295.90 million. PRA Group had a positive return on equity of 13.19% and a negative net margin of 22.51%. As a group, equities analysts expect that PRA Group will post 2.52 earnings per share for the current year.

Hedge Funds Weigh In On PRA Group

A number of large investors have recently modified their holdings of PRAA. Assenagon Asset Management S.A. increased its holdings in shares of PRA Group by 401.6% in the second quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock valued at $11,421,000 after purchasing an additional 481,538 shares in the last quarter. Bank of America Corp DE lifted its holdings in PRA Group by 16.3% during the 1st quarter. Bank of America Corp DE now owns 111,155 shares of the business services provider’s stock worth $1,945,000 after buying an additional 15,538 shares in the last quarter. Amundi acquired a new position in PRA Group during the 1st quarter worth $298,000. EverSource Wealth Advisors LLC increased its stake in shares of PRA Group by 49.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 3,711 shares of the business services provider’s stock valued at $65,000 after buying an additional 1,230 shares during the period. Finally, Empowered Funds LLC acquired a new stake in shares of PRA Group in the 1st quarter valued at $366,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

About PRA Group

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.