PRA Group Inc. (PRAA) Sees Strong Trading Volume
Shares of PRA Group Inc. (NASDAQ:PRAA) saw strong trading volume on Wednesday . 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.
A number of research analysts have recently weighed in on the company. William Blair restated an “outperform” rating on shares of PRA Group in a report on Friday, May 6th. Zacks Investment Research upgraded PRA Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. First Analysis assumed coverage on PRA Group in a report on Tuesday, June 7th. They set an “overweight” rating on the stock. Finally, Raymond James Financial Inc. lowered PRA Group from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $47.00 to $32.00 in a report on Tuesday, May 10th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. PRA Group presently has an average rating of “Hold” and an average price target of $32.25.
The stock’s 50 day moving average is $28.35 and its 200 day moving average is $27.92. The stock has a market cap of $1.47 billion and a PE ratio of 11.82.
PRA Group (NASDAQ:PRAA) last posted its earnings results on Monday, August 8th. The company reported $0.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.83. The firm had revenue of $228.50 million for the quarter, compared to analysts’ expectations of $227.92 million. During the same quarter last year, the company posted $1.06 EPS. The firm’s 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 year.
In related news, insider Michael J. Petit sold 3,000 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $28.11, for a total value of $84,330.00. Following the sale, the insider now owns 125,157 shares in the company, valued at approximately $3,518,163.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael J. Petit sold 8,300 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now owns 116,857 shares in the company, valued at approximately $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 PRA Group Inc. (NASDAQ:PRAA) by 4.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. 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 approximately 0.68% of PRA Group worth $11,317,000 at the end of the most recent quarter.
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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