PRA Group Inc. (PRAA) Trading Down 4.3%
PRA Group Inc. (NASDAQ:PRAA) shares fell 4.3% during mid-day trading on Thursday . The stock traded as low as $30.59 and last traded at $30.59, with a volume of 163,427 shares. The stock had previously closed at $31.98.
Several brokerages have recently issued reports on PRAA. Raymond James Financial Inc. cut shares of PRA Group from a “strong-buy” rating to an “outperform” rating and cut their target price for the stock from $47.00 to $32.00 in a report on Tuesday, May 10th. William Blair reaffirmed an “outperform” rating on shares of PRA Group in a research note on Friday, May 6th. Zacks Investment Research raised PRA Group from a “sell” rating to a “hold” rating in a research note on Tuesday, August 23rd. Finally, First Analysis began coverage on PRA Group in a research note on Tuesday, June 7th. They issued an “overweight” rating for the company. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $32.25.
The stock’s 50 day moving average price is $28.31 and its 200-day moving average price is $27.92. The stock has a market capitalization of $1.43 billion and a price-to-earnings ratio of 11.52.
PRA Group (NASDAQ:PRAA) last posted 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. The firm had revenue of $228.50 million for the quarter, compared to the consensus estimate of $227.92 million. PRA Group’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 EPS. Analysts anticipate 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 the 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 transaction, the insider now owns 125,157 shares of the company’s stock, valued at approximately $3,518,163.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael J. Petit sold 8,300 shares of the 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 transaction, the insider now directly owns 116,857 shares in the company, valued at approximately $3,380,673.01. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in PRA Group stock. Principal Financial Group Inc. increased its position in PRA Group Inc. (NASDAQ:PRAA) by 4.1% during the fourth quarter, according to its most recent Form 13F filing with the 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 approximately 0.68% of PRA Group worth $11,317,000 as of its most recent filing with the SEC.
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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