PRA Group (NASDAQ:PRAA) Upgraded by StockNews.com to Buy

PRA Group (NASDAQ:PRAA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Tuesday.

Separately, Truist Financial lowered their price objective on PRA Group from $42.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th.

PRA Group Stock Performance

NASDAQ:PRAA opened at $22.28 on Tuesday. PRA Group has a fifty-two week low of $11.85 and a fifty-two week high of $31.43. The company has a 50 day simple moving average of $22.60 and a two-hundred day simple moving average of $22.90. The company has a market capitalization of $878.28 million, a PE ratio of -40.81 and a beta of 1.49.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Monday, August 5th. The business services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.46. The company had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $245.04 million. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. PRA Group’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.10) earnings per share. Research analysts predict that PRA Group will post 1.33 EPS for the current year.

Insider Transactions at PRA Group

In related news, Director Geir Olsen purchased 11,750 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was purchased at an average cost of $21.39 per share, with a total value of $251,332.50. Following the completion of the purchase, the director now owns 11,750 shares in the company, valued at approximately $251,332.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PRAA. Dimensional Fund Advisors LP increased its holdings in shares of PRA Group by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,743,076 shares of the business services provider’s stock valued at $34,268,000 after acquiring an additional 20,519 shares in the last quarter. Global Alpha Capital Management Ltd. increased its stake in PRA Group by 5.4% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 1,708,015 shares of the business services provider’s stock valued at $44,545,000 after purchasing an additional 86,800 shares in the last quarter. William Blair Investment Management LLC increased its stake in PRA Group by 0.3% during the 1st quarter. William Blair Investment Management LLC now owns 1,061,093 shares of the business services provider’s stock valued at $27,673,000 after purchasing an additional 2,864 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in PRA Group by 13.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 666,396 shares of the business services provider’s stock worth $17,460,000 after buying an additional 77,819 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in PRA Group by 353.3% during the second quarter. Assenagon Asset Management S.A. now owns 194,235 shares of the business services provider’s stock worth $3,819,000 after buying an additional 151,389 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.

PRA Group Company Profile

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