PRA Group Inc. (PRAA) Trading 5.6% Higher
Shares of PRA Group Inc. (NASDAQ:PRAA) traded up 5.6% during mid-day trading on Monday . The stock traded as high as $28.79 and last traded at $28.75, with a volume of 173,338 shares. The stock had previously closed at $27.23.
Several analysts recently issued reports on the stock. William Blair reaffirmed an “outperform” rating on shares of PRA Group in a report on Friday, May 6th. Zacks Investment Research raised shares of PRA Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. First Analysis assumed coverage on shares of PRA Group in a report on Tuesday, June 7th. They set an “overweight” rating for the company. Finally, Raymond James Financial Inc. downgraded shares of PRA Group from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $47.00 to $32.00 in a report on Tuesday, May 10th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $32.25.
The company has a market capitalization of $1.33 billion and a PE ratio of 10.66. The firm’s 50 day moving average price is $26.59 and its 200 day moving average price is $27.72.
PRA Group (NASDAQ:PRAA) last announced its earnings results on Monday, August 8th. The company reported $0.83 EPS for the quarter, hitting the consensus estimate of $0.83. The company had revenue of $228.50 million for the quarter, compared to analyst estimates of $227.92 million. The business’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the business posted $1.06 earnings per share. On average, analysts predict that PRA Group Inc. will post $3.19 earnings per share for the current year.
In other PRA Group news, insider Michael J. Petit sold 8,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $28.93, for a total transaction of $240,119.00. Following the sale, the insider now directly owns 116,857 shares in the company, valued at approximately $3,380,673.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Petit sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $28.11, for a total transaction of $84,330.00. Following the sale, the insider now owns 125,157 shares in the company, valued at $3,518,163.27. The disclosure for this sale can be found here.
Several hedge funds have bought and sold shares of PRAA. Comerica Bank increased its stake in 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. Trexquant Investment LP increased its stake in PRA Group by 100.5% in the fourth quarter. Trexquant Investment LP now owns 57,707 shares of the company’s stock worth $2,002,000 after buying an additional 28,923 shares during the period. Finally, Principal Financial Group Inc. increased its stake in PRA Group by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 326,236 shares of the company’s stock worth $11,317,000 after buying an additional 12,911 shares during the period.
PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.