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

StockNews.com upgraded shares of PRA Group (NASDAQ:PRAA) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.

Separately, JMP Securities restated a market outperform rating and issued a $33.00 target price on shares of PRA Group in a research note on Tuesday.

PRA Group Stock Up 1.1 %

Shares of PRAA stock opened at $25.31 on Wednesday. PRA Group has a 52-week low of $11.85 and a 52-week high of $31.43. The stock’s 50-day moving average price is $24.73 and its 200 day moving average price is $22.58. The stock has a market capitalization of $996.00 million, a PE ratio of -11.88 and a beta of 1.47.

PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, May 6th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.24. PRA Group had a negative return on equity of 6.82% and a negative net margin of 10.40%. The business had revenue of $255.59 million for the quarter, compared to analyst estimates of $233.37 million. During the same quarter in the previous year, the company posted ($1.50) earnings per share. The company’s revenue for the quarter was up 64.4% compared to the same quarter last year. Analysts expect that PRA Group will post 0.35 earnings per share for the current fiscal year.

Insider Activity

In other PRA Group news, CEO Vikram A. Atal sold 5,830 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $24.39, for a total transaction of $142,193.70. Following the sale, the chief executive officer now directly owns 155,625 shares in the company, valued at approximately $3,795,693.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On PRA Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC increased its stake in PRA Group by 90.5% in the 4th quarter. CWM LLC now owns 1,189 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 565 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in PRA Group by 1,032.9% in the third quarter. PNC Financial Services Group Inc. now owns 3,512 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 3,202 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of PRA Group in the first quarter valued at $103,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of PRA Group by 40.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,447 shares of the business services provider’s stock worth $181,000 after buying an additional 2,722 shares during the last quarter. Finally, ProShare Advisors LLC purchased a new stake in shares of PRA Group in the 1st quarter worth about $203,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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.