PRA Group Inc. (PRAA) Trading 3.4% Higher
Shares of PRA Group Inc. (NASDAQ:PRAA) traded up 3.4% on Tuesday . The stock traded as high as $30.50 and last traded at $30.30, with a volume of 183,737 shares traded. The stock had previously closed at $29.31.
Several analysts have weighed in on the company. Raymond James Financial Inc. cut PRA Group from a “strong-buy” rating to an “outperform” rating and dropped 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. Zacks Investment Research raised PRA Group from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, First Analysis assumed coverage on PRA Group in a report on Tuesday, June 7th. They set an “overweight” rating for the company. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $32.25.
The firm has a 50 day moving average of $27.32 and a 200 day moving average of $27.74. The stock has a market capitalization of $1.38 billion and a PE ratio of 11.06.
PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, August 8th. The company reported $0.83 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.83. During the same period last year, the company posted $1.06 earnings per share. The company had revenue of $228.50 million for the quarter, compared to analyst estimates of $227.92 million. The business’s revenue for the quarter was down 3.7% compared to the same quarter last year. Equities analysts anticipate that PRA Group Inc. will post $3.19 earnings per share for the current fiscal year.
In other news, insider Michael J. Petit sold 3,000 shares of the 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 sale, the insider now directly owns 125,157 shares of the company’s stock, valued at approximately $3,518,163.27. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Michael J. Petit sold 8,300 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $28.93, for a total value of $240,119.00. Following the sale, the insider now directly owns 116,857 shares in the company, valued at $3,380,673.01. The disclosure for this sale can be found here.
An institutional investor recently raised its position in PRA Group stock. Trexquant Investment LP increased its stake in PRA Group Inc. (NASDAQ:PRAA) by 100.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,707 shares of the company’s stock after buying an additional 28,923 shares during the period. Trexquant Investment LP owned approximately 0.12% of PRA Group worth $2,002,000 as of its most recent filing with the SEC.
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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