PRA Group Inc. (PRAA) Trading 3.8% Higher
PRA Group Inc. (NASDAQ:PRAA) shares traded up 3.8% during mid-day trading on Tuesday . The company traded as high as $31.46 and last traded at $31.38, with a volume of 236,556 shares changing hands. The stock had previously closed at $30.23.
A number of research analysts have issued reports on the stock. William Blair reissued an “outperform” rating on shares of PRA Group in a research report on Friday, May 6th. Zacks Investment Research raised shares of PRA Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 16th. First Analysis initiated coverage on shares of PRA Group in a research report on Tuesday, June 7th. They issued an “overweight” rating on the stock. Finally, Raymond James Financial Inc. downgraded shares of PRA Group from a “strong-buy” rating to an “outperform” rating and reduced their target price for the stock from $47.00 to $32.00 in a research report on Tuesday, May 10th. Five equities research 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 a consensus rating of “Hold” and an average target price of $32.25.
The stock has a market cap of $1.48 billion and a P/E ratio of 11.90. The stock has a 50-day moving average price of $28.31 and a 200 day moving average price of $27.92.
PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.83 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.83. During the same quarter in the prior year, the business earned $1.06 earnings per share. The company earned $228.50 million during the quarter, compared to the consensus estimate of $227.92 million. The firm’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities analysts expect that PRA Group Inc. will post $2.95 earnings per share for the current year.
In other news, insider Michael J. Petit sold 3,000 shares of PRA Group stock in a transaction 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 completion of the sale, the insider now directly owns 125,157 shares in the company, valued at $3,518,163.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Petit sold 8,300 shares of PRA Group stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $28.93, for a total value of $240,119.00. Following the sale, the insider now owns 116,857 shares of the company’s stock, valued at $3,380,673.01. The disclosure for this sale can be found here.
An institutional investor recently raised its position in PRA Group stock. Principal Financial Group Inc. boosted its stake in shares of PRA Group Inc. (NASDAQ:PRAA) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,236 shares of the company’s stock after buying an additional 12,911 shares during the period. Principal Financial Group Inc. owned 0.68% of PRA Group worth $11,317,000 as of its most recent SEC filing.
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.
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