Pra Group (PRAA) Downgraded by Zacks Investment Research
Pra Group (NASDAQ:PRAA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.
According to Zacks, “PRA Group’s shares have outperformed the industry in a year’s time. Its continued favorable performance of the fee-for-service business instills optimism. Several strategic acquisitions and alliances position the company well for long-term growth. PRA Group’s financial health also impresses.The company has seen its Zacks Consensus Estimate for 2018 earnings being revised upward in the past 30 days. Its fourth-quarter 2017 earnings per share missed the Zacks Consensus Estimate but rose year over year on the back of higher revenues. However, its rising level of expenses continues to weigh on the company’s bottom line. Increasing interest expenses have also been putting pressure on the its profitability.”
A number of other brokerages also recently commented on PRAA. Raymond James Financial upgraded Pra Group from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 28th. BidaskClub cut Pra Group from a “hold” rating to a “sell” rating in a research note on Saturday, January 20th. Oppenheimer started coverage on Pra Group in a research note on Monday, January 8th. They set a “hold” rating for the company. UBS Group started coverage on Pra Group in a research note on Monday, January 8th. They set a “market perform” rating for the company. Finally, William Blair reissued an “outperform” rating on shares of Pra Group in a research note on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $40.00.
Pra Group (NASDAQ:PRAA) last announced its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). Pra Group had a return on equity of 5.83% and a net margin of 19.94%. The company had revenue of $205.67 million for the quarter, compared to analysts’ expectations of $195.56 million. analysts expect that Pra Group will post 1.77 earnings per share for the current fiscal year.
In other Pra Group news, Director Penelope W. Kyle sold 1,975 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was sold at an average price of $33.45, for a total transaction of $66,063.75. Following the completion of the sale, the director now owns 36,425 shares of the company’s stock, valued at $1,218,416.25. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.10% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio increased its stake in Pra Group by 10.7% during the second quarter. Public Employees Retirement System of Ohio now owns 3,150 shares of the business services provider’s stock worth $119,000 after acquiring an additional 305 shares during the last quarter. Eagle Asset Management Inc. increased its stake in Pra Group by 1.2% during the fourth quarter. Eagle Asset Management Inc. now owns 139,641 shares of the business services provider’s stock worth $4,684,000 after acquiring an additional 1,638 shares during the last quarter. American International Group Inc. increased its stake in Pra Group by 5.3% during the third quarter. American International Group Inc. now owns 36,287 shares of the business services provider’s stock worth $1,040,000 after acquiring an additional 1,832 shares during the last quarter. Bath Savings Trust Co increased its stake in Pra Group by 7.8% during the fourth quarter. Bath Savings Trust Co now owns 27,146 shares of the business services provider’s stock worth $901,000 after acquiring an additional 1,975 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Pra Group by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 406,062 shares of the business services provider’s stock valued at $13,481,000 after buying an additional 2,229 shares in the last quarter.
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About Pra Group
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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