PRA Group (NASDAQ:PRAA) Trading Up 6%

Shares of PRA Group, Inc. (NASDAQ:PRAA) rose 6% during trading on Tuesday . The company traded as high as $22.29 and last traded at $22.11. Approximately 32,463 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 193,284 shares. The stock had previously closed at $20.86.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PRAA shares. StockNews.com upgraded shares of PRA Group from a “hold” rating to a “buy” rating in a research note on Tuesday. Truist Financial decreased their target price on 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 Up 5.7 %

The business has a fifty day moving average price of $22.54 and a 200-day moving average price of $22.93. The company has a market cap of $868.82 million, a P/E ratio of -40.91 and a beta of 1.49.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings results on Monday, August 5th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.46. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The business had revenue of $284.20 million during the quarter, compared to the consensus estimate of $245.04 million. During the same period in the previous year, the company posted ($0.10) EPS. The firm’s quarterly revenue was up 35.9% on a year-over-year basis. As a group, research analysts expect that PRA Group, Inc. will post 1.33 earnings per share for the current year.

Insider Activity at PRA Group

In other PRA Group news, Director Geir Olsen acquired 11,750 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $21.39 per share, for a total transaction of $251,332.50. Following the purchase, 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 is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PRAA. Charles Schwab Investment Management Inc. boosted its stake in shares of PRA Group by 13.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 666,396 shares of the business services provider’s stock valued at $17,460,000 after buying an additional 77,819 shares during the period. Global Alpha Capital Management Ltd. increased its stake in 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 during the last quarter. Redwood Investment Management LLC acquired a new position in PRA Group during the fourth quarter valued at approximately $3,268,000. State Board of Administration of Florida Retirement System raised its position in PRA Group by 389.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 53,977 shares of the business services provider’s stock valued at $1,408,000 after purchasing an additional 42,950 shares in the last quarter. Finally, ClariVest Asset Management LLC bought a new stake in PRA Group during the second quarter worth $1,343,000. 97.22% of the stock is owned by institutional investors.

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.