PRA Group Inc. (PRAA) Trading 6.6% Higher
PRA Group Inc. (NASDAQ:PRAA) shares rose 6.6% on Tuesday . The company traded as high as $29.37 and last traded at $29.26, with a volume of 465,912 shares trading hands. The stock had previously closed at $27.45.
PRAA has been the topic of a number of analyst reports. First Analysis initiated coverage on shares of PRA Group in a research note on Tuesday, June 7th. They set an “overweight” rating on the stock. William Blair restated an “outperform” rating on shares of PRA Group in a research note on Friday, May 6th. Raymond James Financial Inc. cut shares of PRA Group from a “strong-buy” rating to an “outperform” rating and lowered their target price for the company from $47.00 to $32.00 in a research note on Tuesday, May 10th. Finally, Zacks Investment Research upgraded shares of PRA Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $32.25.
The company has a market cap of $1.34 billion and a price-to-earnings ratio of 9.74. The company has a 50 day moving average of $26.19 and a 200 day moving average of $27.82.
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 the Zacks’ consensus estimate of $0.83. The company earned $228.50 million during the quarter, compared to analysts’ expectations of $227.92 million. During the same period in the prior year, the business posted $1.06 EPS. The company’s quarterly revenue was down 3.7% on a year-over-year basis. On average, equities analysts forecast that PRA Group Inc. will post $3.23 earnings per share for the current year.
In related news, Director Geir Olsen purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, May 17th. The stock was acquired 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 approximately $734,188.86. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Petit sold 3,000 shares of the firm’s 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 transaction, the insider now directly owns 125,157 shares of the company’s stock, valued at approximately $3,518,163.27. The disclosure for this sale can be found here.
Several hedge funds and institutional investors recently bought and sold shares of PRAA. Comerica Bank boosted its position in PRA Group by 1.1% in the fourth quarter. Comerica Bank now owns 50,232 shares of the company’s stock worth $1,620,000 after buying an additional 531 shares in the last quarter. Trexquant Investment LP boosted its position in PRA Group by 100.5% in the fourth quarter. Trexquant Investment LP now owns 57,707 shares of the company’s stock worth $2,002,000 after buying an additional 28,923 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its position in PRA Group by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 326,236 shares of the company’s stock worth $11,317,000 after buying an additional 12,911 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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.