PRA Group (NASDAQ:PRAA) Rating Increased to Buy at StockNews.com

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

Separately, Truist Financial decreased their price target on shares of PRA Group from $42.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th.

PRA Group Price Performance

Shares of PRAA opened at $21.65 on Wednesday. PRA Group has a one year low of $11.85 and a one year high of $31.43. The company has a market cap of $851.97 million, a PE ratio of -40.09 and a beta of 1.49. The stock has a 50-day moving average of $21.99 and a 200-day moving average of $22.48.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.46. The business had revenue of $284.20 million for the quarter, compared to analyst estimates of $245.04 million. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The company’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.10) earnings per share. Analysts expect that PRA Group will post 1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Geir Olsen bought 11,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were bought at an average price of $21.39 per share, for a total transaction of $251,332.50. Following the completion of the acquisition, the director now directly owns 11,750 shares of the company’s stock, valued at $251,332.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of PRA Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP grew its position in PRA Group by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,743,076 shares of the business services provider’s stock worth $34,268,000 after purchasing an additional 20,519 shares in the last quarter. Global Alpha Capital Management Ltd. grew its holdings in shares of PRA Group by 5.4% in the first 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 acquiring an additional 86,800 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of PRA Group by 0.3% during the first 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 acquiring an additional 2,864 shares during the last quarter. Assenagon Asset Management S.A. increased its position in shares of 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 valued at $3,819,000 after acquiring an additional 151,389 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in PRA Group by 3.4% in the first quarter. Blair William & Co. IL now owns 165,625 shares of the business services provider’s stock worth $4,320,000 after purchasing an additional 5,445 shares during the last quarter. Hedge funds and other 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.