PRA Group Inc. (PRAA) Trading Up 6.6%
PRA Group Inc. (NASDAQ:PRAA) was up 6.6% during trading 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.
A number of equities research analysts recently commented on PRAA shares. First Analysis started coverage on PRA Group in a research report on Tuesday, June 7th. They issued an “overweight” rating for the company. William Blair reissued an “outperform” rating on shares of PRA Group in a research report on Friday, May 6th. Raymond James Financial Inc. lowered PRA Group from a “strong-buy” rating to an “outperform” rating and lowered their price target for the company from $47.00 to $32.00 in a research report on Tuesday, May 10th. Finally, Zacks Investment Research raised PRA Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. PRA Group presently has an average rating of “Hold” and a consensus price target of $32.25.
The firm has a market capitalization of $1.25 billion and a PE ratio of 10.06. The stock’s 50 day moving average is $26.37 and its 200 day moving average is $27.80.
PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.83 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.83. The business earned $228.50 million during the quarter, compared to the consensus estimate of $227.92 million. During the same quarter in the prior year, the business posted $1.06 earnings per share. PRA Group’s quarterly revenue was down 3.7% compared to the same quarter last year. On average, equities research analysts predict that PRA Group Inc. will post $3.17 earnings per share for the current year.
In related news, insider Michael J. Petit sold 3,000 shares of PRA Group stock in a transaction that occurred 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 sale, the insider now directly owns 125,157 shares in the company, valued at $3,518,163.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Petit sold 8,300 shares of PRA Group stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $28.93, for a total value of $240,119.00. Following the sale, the insider now owns 116,857 shares in the company, valued at $3,380,673.01. The disclosure for this sale can be found here.
Several large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. raised its stake in PRA Group by 4.1% in the fourth quarter. Principal Financial Group Inc. now owns 326,236 shares of the company’s stock valued at $11,317,000 after buying an additional 12,911 shares in the last quarter. Trexquant Investment LP raised 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. Finally, Comerica Bank raised 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.
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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