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

StockNews.com cut shares of PRA Group (NASDAQ:PRAA) from a buy rating to a hold rating in a report issued on Monday.

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

PRA Group Stock Performance

NASDAQ PRAA opened at $20.23 on Monday. PRA Group has a one year low of $11.85 and a one year high of $31.43. The firm has a market cap of $796.09 million, a PE ratio of -37.46 and a beta of 1.49. The firm’s fifty day moving average is $22.45 and its two-hundred day moving average is $23.04.

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

Insider Buying and Selling at PRA Group

In other PRA Group news, Director Geir Olsen bought 11,750 shares of PRA Group stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $21.39 per share, with a total value 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On PRA Group

Hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its position 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 in the last quarter. BNP Paribas Financial Markets raised its position in PRA Group by 46.5% during the fourth quarter. BNP Paribas Financial Markets now owns 31,391 shares of the business services provider’s stock worth $822,000 after acquiring an additional 9,957 shares during the last quarter. Global Alpha Capital Management Ltd. raised its position in PRA Group by 17.2% during the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,621,215 shares of the business services provider’s stock worth $42,476,000 after acquiring an additional 237,800 shares during the last quarter. US Bancorp DE lifted its holdings in shares of PRA Group by 48.5% in the fourth quarter. US Bancorp DE now owns 44,237 shares of the business services provider’s stock valued at $1,159,000 after purchasing an additional 14,453 shares in the last quarter. Finally, Redwood Investment Management LLC acquired a new stake in shares of PRA Group in the fourth quarter valued at approximately $3,268,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

About PRA Group

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.