Pra Group (PRAA) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Pra Group (NASDAQ:PRAA) from a strong sell rating to a hold rating in a research report report published on Friday.
According to Zacks, “PRA Group’s shares have lost in a year’s time, narrower than its industry’s decline. The company’s financial health impresses. Its solid liquidity ensures its debt servicing capacity. A growing receivable income and several strategic acquisitions plus tie-ups are other positives. PRA Group’s earnings per share of 22 cents missed the Zacks Consensus Estimate by 37.1%, but the bottom line declined 35.2% year over year. The company’s rising expenses weigh on its bottom line. Rise in borrowing costs and increase in leverage have resulted in high interest expenses that have also been putting pressure on the company’s profitability. Its fee income has been declining over the past few quarters, which remains a concern.”
Other analysts also recently issued research reports about the company. ValuEngine downgraded Pra Group from a buy rating to a hold rating in a research note on Tuesday, July 31st. Keefe, Bruyette & Woods set a $35.00 target price on Pra Group and gave the company a hold rating in a research note on Thursday, August 9th. Oppenheimer restated a hold rating on shares of Pra Group in a research note on Thursday, August 9th. Finally, BidaskClub upgraded Pra Group from a hold rating to a buy rating in a research note on Thursday, September 20th. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of Hold and an average target price of $35.00.
Pra Group (NASDAQ:PRAA) last announced its earnings results on Thursday, November 8th. The business services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.13). Pra Group had a net margin of 15.69% and a return on equity of 5.80%. The business had revenue of $225.90 million for the quarter, compared to the consensus estimate of $223.81 million. During the same quarter in the previous year, the company earned $0.34 EPS. Pra Group’s revenue for the quarter was up 10.5% compared to the same quarter last year. On average, equities analysts forecast that Pra Group will post 1.42 earnings per share for the current year.
In other Pra Group news, SVP Christopher D. Lagow sold 1,405 shares of the firm’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $36.05, for a total value of $50,650.25. Following the completion of the sale, the senior vice president now owns 19,747 shares in the company, valued at approximately $711,879.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher D. Lagow sold 1,555 shares of the firm’s stock in a transaction that occurred on Thursday, September 27th. The stock was sold at an average price of $36.45, for a total value of $56,679.75. Following the completion of the sale, the senior vice president now owns 16,718 shares of the company’s stock, valued at approximately $609,371.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,434 shares of company stock valued at $162,900. 2.34% of the stock is owned by corporate insiders.
Hedge funds have recently made changes to their positions in the business. American Research & Management Co. bought a new stake in shares of Pra Group in the 2nd quarter worth approximately $110,000. GAM Holding AG bought a new stake in shares of Pra Group in the 2nd quarter worth approximately $214,000. Chicago Capital LLC bought a new stake in shares of Pra Group in the 2nd quarter worth approximately $261,000. CHICAGO TRUST Co NA bought a new stake in shares of Pra Group in the 3rd quarter worth approximately $265,000. Finally, Xact Kapitalforvaltning AB lifted its position in shares of Pra Group by 29.0% in the 2nd quarter. Xact Kapitalforvaltning AB now owns 8,895 shares of the business services provider’s stock worth $343,000 after acquiring an additional 2,000 shares during the period.
About Pra Group
PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans in the Americas and Europe. It is involved in the acquisition of accounts that are primarily the unpaid obligations of individuals owed to credit grantors, which include banks and other types of consumer, retail, and auto finance companies.
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