PRA Group Inc. (PRAA) Sees Strong Trading Volume
PRA Group Inc. (NASDAQ:PRAA) saw unusually-high trading volume on Wednesday . Approximately 1,105,102 shares were traded during mid-day trading, an increase of 188% from the previous session’s volume of 383,104 shares.The stock last traded at $32.29 and had previously closed at $31.38.
PRAA has been the topic of several recent research reports. William Blair restated an “outperform” rating on shares of PRA Group in a research report on Friday, May 6th. Raymond James Financial Inc. downgraded PRA Group from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the company from $47.00 to $32.00 in a research report on Tuesday, May 10th. First Analysis initiated coverage on PRA Group in a research report on Tuesday, June 7th. They issued an “overweight” rating on the stock. Finally, Zacks Investment Research upgraded PRA Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 9th. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $32.25.
The firm has a market capitalization of $1.48 billion and a PE ratio of 11.90. The company’s 50-day moving average is $28.31 and its 200-day moving average is $27.92.
PRA Group (NASDAQ:PRAA) last posted its earnings results on Monday, August 8th. The company reported $0.83 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.83. The company had revenue of $228.50 million for the quarter, compared to the consensus estimate of $227.92 million. During the same quarter last year, the business earned $1.06 earnings per share. PRA Group’s quarterly revenue was down 3.7% on a year-over-year basis. Equities research analysts predict that PRA Group Inc. will post $2.95 EPS for the current fiscal year.
In other PRA Group news, insider Michael J. Petit sold 3,000 shares of the firm’s stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $28.11, for a total transaction of $84,330.00. Following the transaction, 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 SEC, which is available through this link. Also, insider Michael J. Petit sold 8,300 shares of the firm’s stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $28.93, for a total value of $240,119.00. Following the transaction, 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.
An institutional investor recently raised its position in PRA Group stock. Principal Financial Group Inc. increased its stake in shares of PRA Group Inc. (NASDAQ:PRAA) by 4.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 326,236 shares of the company’s stock after buying an additional 12,911 shares during the period. Principal Financial Group Inc. owned 0.68% of PRA Group worth $11,317,000 at the end of the most recent reporting period.
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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