PRA Group Inc. (PRAA) Stock Price Down 4.3%
PRA Group Inc. (NASDAQ:PRAA)’s share price was down 4.3% during mid-day trading on Thursday . The company traded as low as $30.59 and last traded at $30.59, with a volume of 163,427 shares changing hands. The stock had previously closed at $31.98.
A number of equities analysts recently issued reports on PRAA shares. William Blair reiterated an “outperform” rating on shares of PRA Group in a research report on Friday, May 6th. Raymond James Financial Inc. lowered shares of PRA Group from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $47.00 to $32.00 in a research report on Tuesday, May 10th. First Analysis started coverage on shares of PRA Group in a research report on Tuesday, June 7th. They issued an “overweight” rating for the company. Finally, Zacks Investment Research upgraded shares of PRA Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. PRA Group presently has a consensus rating of “Hold” and an average price target of $32.25.
The firm’s 50 day moving average price is $28.55 and its 200 day moving average price is $27.97. The firm has a market capitalization of $1.48 billion and a P/E ratio of 11.89.
PRA Group (NASDAQ:PRAA) last announced its earnings results on Monday, August 8th. The company reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. The business earned $228.50 million during the quarter, compared to analyst estimates of $227.92 million. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.06 earnings per share. On average, analysts anticipate that PRA Group Inc. will post $2.95 earnings per share for the current fiscal year.
In related news, insider Michael J. Petit sold 3,000 shares of PRA Group stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $28.11, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael J. Petit sold 8,300 shares of PRA Group stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $28.93, for a total value of $240,119.00. Following the completion of 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.
A hedge fund recently raised its stake in PRA Group stock. Principal Financial Group Inc. boosted 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 Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent reporting 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.
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