PRA Group (NASDAQ:PRAA) Rating Lowered to Hold at StockNews.com

PRA Group (NASDAQ:PRAA) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Separately, Truist Financial dropped their target price on shares of PRA Group from $42.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th.

PRA Group Stock Performance

Shares of NASDAQ PRAA opened at $20.37 on Monday. PRA Group has a 52-week low of $11.85 and a 52-week high of $31.43. The stock has a market cap of $802.99 million, a P/E ratio of -37.72 and a beta of 1.49. The firm has a 50 day moving average price of $22.44 and a 200 day moving average price of $23.06.

PRA Group (NASDAQ:PRAA) last posted its earnings results 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 firm 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 revenue for the quarter was up 35.9% on a year-over-year basis. During the same period in the previous year, the company posted ($0.10) earnings per share. Analysts predict that PRA Group will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at PRA Group

In other news, Director Geir Olsen acquired 11,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $21.39 per share, for a total transaction of $251,332.50. Following the completion of the acquisition, the director now owns 11,750 shares in the company, valued at $251,332.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. boosted its stake in shares of PRA Group by 13.2% during the 4th 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. BNP Paribas Financial Markets grew its stake in PRA Group by 46.5% in the fourth quarter. BNP Paribas Financial Markets now owns 31,391 shares of the business services provider’s stock valued at $822,000 after purchasing an additional 9,957 shares in the last quarter. Global Alpha Capital Management Ltd. increased its position in shares of PRA Group by 17.2% during the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,621,215 shares of the business services provider’s stock worth $42,476,000 after purchasing an additional 237,800 shares during the last quarter. US Bancorp DE raised its stake in shares of PRA Group by 48.5% during the 4th quarter. US Bancorp DE now owns 44,237 shares of the business services provider’s stock worth $1,159,000 after purchasing an additional 14,453 shares in the last quarter. Finally, Redwood Investment Management LLC bought a new stake in shares of PRA Group during the 4th quarter worth approximately $3,268,000. Institutional investors and hedge funds 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.