PRA Group Inc. (PRAA) Shares Down 5.7%
Shares of PRA Group Inc. (NASDAQ:PRAA) fell 5.7% on Tuesday . The company traded as low as $21.93 and last traded at $22.91, with a volume of 326,103 shares. The stock had previously closed at $24.30.
A number of research firms have weighed in on PRAA. Raymond James Financial Inc. cut shares of PRA Group from a “strong-buy” rating to an “outperform” rating and cut their price objective for the stock from $47.00 to $32.00 in a report on Tuesday, May 10th. William Blair reissued an “outperform” rating on shares of PRA Group in a report on Friday, May 6th. Finally, First Analysis began coverage on shares of PRA Group in a report on Tuesday, June 7th. They set an “overweight” rating on the stock. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $32.25.
The firm has a market cap of $1.13 billion and a price-to-earnings ratio of 8.21. The stock has a 50-day moving average price of $25.36 and a 200 day moving average price of $28.76.
PRA Group (NASDAQ:PRAA) last issued its earnings results on Monday, May 9th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.94 by $0.09. The firm earned $224.90 million during the quarter, compared to analyst estimates of $239.93 million. During the same period in the prior year, the firm earned $1.19 EPS. The business’s revenue for the quarter was down 8.3% on a year-over-year basis. Equities research analysts predict that PRA Group Inc. will post $3.22 EPS for the current year.
In other news, Director Geir Olsen bought 25,000 shares of the firm’s stock in a transaction dated Tuesday, May 17th. The stock was acquired at an average price of $27.03 per share, for a total transaction of $675,750.00. Following the acquisition, the director now owns 27,162 shares of the company’s stock, valued at $734,188.86. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David N. Roberts bought 40,000 shares of the firm’s stock in a transaction dated Wednesday, May 11th. The shares were purchased at an average price of $25.25 per share, with a total value of $1,010,000.00. Following the acquisition, the director now directly owns 56,775 shares in the company, valued at approximately $1,433,568.75. The disclosure for this purchase can be found here.
Several hedge funds have recently modified their holdings of PRAA. Sawtooth Asset Management Inc. boosted its stake in shares of PRA Group by 8,688.9% in the fourth quarter. Sawtooth Asset Management Inc. now owns 33,222 shares of the company’s stock worth $1,152,000 after buying an additional 32,844 shares during the last quarter. Morgan Stanley boosted its stake in shares of PRA Group by 197.5% in the fourth quarter. Morgan Stanley now owns 123,836 shares of the company’s stock worth $4,297,000 after buying an additional 82,215 shares during the last quarter. Thornburg Investment Management Inc. purchased a new stake in shares of PRA Group during the fourth quarter worth about $10,561,000. Brown Advisory Inc. boosted its stake in shares of PRA Group by 5.9% in the fourth quarter. Brown Advisory Inc. now owns 44,252 shares of the company’s stock worth $1,535,000 after buying an additional 2,475 shares during the last quarter. Finally, Cooke & Bieler LP boosted its stake in shares of PRA Group by 41.2% in the fourth quarter. Cooke & Bieler LP now owns 421,855 shares of the company’s stock worth $14,634,000 after buying an additional 123,190 shares during the last quarter.
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.