PRA Group Inc. (PRAA) Trading Up 5.5%
PRA Group Inc. (NASDAQ:PRAA) was up 5.5% on Friday . The stock traded as high as $25.47 and last traded at $25.40, with a volume of 169,755 shares traded. The stock had previously closed at $24.08.
Several equities research analysts have weighed in on PRAA shares. Raymond James Financial Inc. downgraded PRA Group from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $47.00 to $32.00 in a research report on Tuesday, May 10th. William Blair reaffirmed an “outperform” rating on shares of PRA Group in a research report on Friday, May 6th. Finally, First Analysis began coverage on PRA Group in a research report on Tuesday, June 7th. They set an “overweight” rating on the stock. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $32.25.
The company’s 50 day moving average price is $25.28 and its 200-day moving average price is $28.64. The firm has a market cap of $1.17 billion and a PE ratio of 8.53.
PRA Group (NASDAQ:PRAA) last issued its earnings results on Monday, May 9th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by $0.09. During the same period in the prior year, the firm posted $1.19 EPS. The company had revenue of $224.90 million for the quarter, compared to analysts’ expectations of $239.93 million. The company’s quarterly revenue was down 8.3% on a year-over-year basis. On average, equities analysts predict that PRA Group Inc. will post $3.22 earnings per share for the current fiscal year.
In related news, Director David N. Roberts purchased 40,000 shares of PRA Group stock in a transaction that occurred on Wednesday, May 11th. The stock was purchased at an average cost of $25.25 per share, with a total value of $1,010,000.00. Following the completion of the transaction, the director now directly owns 56,775 shares in the company, valued at $1,433,568.75. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Geir Olsen purchased 25,000 shares of PRA Group stock in a transaction that occurred on Tuesday, May 17th. The stock was bought at an average cost of $27.03 per share, with a total value of $675,750.00. Following the completion of the transaction, the director now owns 27,162 shares of the company’s stock, valued at $734,188.86. The disclosure for this purchase can be found here.
A number of large investors recently made changes to their positions in the stock. Russell Frank Co boosted its stake in shares of PRA Group by 1.9% in the fourth quarter. Russell Frank Co now owns 306,442 shares of the company’s stock worth $11,020,000 after buying an additional 5,847 shares during the period. Nationwide Fund Advisors boosted its stake in shares of PRA Group by 5.6% in the fourth quarter. Nationwide Fund Advisors now owns 143,059 shares of the company’s stock worth $4,963,000 after buying an additional 7,636 shares during the period. California State Teachers Retirement System boosted its stake in shares of PRA Group by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 89,552 shares of the company’s stock worth $3,107,000 after buying an additional 1,400 shares during the period. Rhumbline Advisers boosted its stake in shares of PRA Group by 6.3% in the fourth quarter. Rhumbline Advisers now owns 64,161 shares of the company’s stock worth $2,226,000 after buying an additional 3,791 shares during the period. Finally, Comerica Bank boosted its stake in shares of PRA Group by 1.1% in the fourth quarter. Comerica Bank now owns 50,232 shares of the company’s stock worth $1,620,000 after buying an additional 531 shares during the period.
PRA Group Inc (PRA Group) formerly Portfolio Recovery Associates Inc and its subsidiaries is a financial and business service company. The Company’s primary business is the purchase collection and management of portfolios of defaulted consumer receivables. These are the unpaid obligations of individuals to credit originators which include banks credit unions consumer and auto finance companies and retail merchants.
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