PRA Group Inc. (PRAA) Trading 5.5% Higher
PRA Group Inc. (NASDAQ:PRAA)’s share price traded up 5.5% during trading on Friday . The company traded as high as $25.47 and last traded at $25.40, with a volume of 169,755 shares. The stock had previously closed at $24.08.
A number of research firms recently issued reports on PRAA. Raymond James Financial Inc. cut PRA Group from a “strong-buy” rating to an “outperform” rating and dropped their price objective for the company from $47.00 to $32.00 in a report on Tuesday, May 10th. William Blair restated an “outperform” rating on shares of PRA Group in a report on Friday, May 6th. Finally, First Analysis began coverage on PRA Group in a report on Tuesday, June 7th. They set an “overweight” rating for the company. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $32.25.
The stock has a market capitalization of $1.17 billion and a price-to-earnings ratio of 8.53. The firm has a 50 day moving average of $25.29 and a 200 day moving average of $28.72.
PRA Group (NASDAQ:PRAA) last announced its earnings results on Monday, May 9th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.94 by $0.09. During the same period in the prior year, the firm earned $1.19 earnings per share. The business earned $224.90 million during the quarter, compared to analyst estimates of $239.93 million. PRA Group’s revenue was down 8.3% on a year-over-year basis. On average, equities analysts predict that PRA Group Inc. will post $3.22 earnings per share for the current fiscal year.
In related news, Director Geir Olsen purchased 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 17th. The stock was purchased at an average price of $27.03 per share, with a total value of $675,750.00. Following the completion of the acquisition, the director now owns 27,162 shares in the company, valued at $734,188.86. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David N. Roberts purchased 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 11th. The stock was bought at an average cost of $25.25 per share, with a total value of $1,010,000.00. Following the acquisition, the director now owns 56,775 shares of the company’s stock, valued at approximately $1,433,568.75. The disclosure for this purchase can be found here.
Other large investors recently bought and sold shares of the company. Sawtooth Asset Management Inc. boosted its stake in PRA Group by 8,688.9% in the fourth quarter. Sawtooth Asset Management Inc. now owns 33,222 shares of the company’s stock valued at $1,152,000 after buying an additional 32,844 shares in the last quarter. Brown Advisory Inc. boosted its stake in PRA Group by 5.9% in the fourth quarter. Brown Advisory Inc. now owns 44,252 shares of the company’s stock valued at $1,535,000 after buying an additional 2,475 shares in the last quarter. Holland Capital Management LLC boosted its stake in PRA Group by 12.5% in the fourth quarter. Holland Capital Management LLC now owns 45,018 shares of the company’s stock valued at $1,562,000 after buying an additional 5,002 shares in the last quarter. Comerica Bank boosted its stake in PRA Group by 1.1% in the fourth quarter. Comerica Bank now owns 50,232 shares of the company’s stock valued at $1,620,000 after buying an additional 531 shares in the last quarter. Finally, Trexquant Investment LP boosted 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 valued at $2,002,000 after buying an additional 28,923 shares in 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.
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