PRA Group (NASDAQ:PRAA) Stock Price Up 3.7%

Shares of PRA Group, Inc. (NASDAQ:PRAA) rose 3.7% on Wednesday . The stock traded as high as $23.15 and last traded at $23.14. Approximately 6,507 shares changed hands during trading, a decline of 97% from the average daily volume of 217,190 shares. The stock had previously closed at $22.31.

Analysts Set New Price Targets

PRAA has been the subject of several research analyst reports. StockNews.com raised shares of PRA Group from a “sell” rating to a “hold” rating in a research note on Friday, February 16th. JMP Securities increased their target price on shares of PRA Group from $26.00 to $33.00 and gave the stock a “market outperform” rating in a research note on Friday, February 16th.

PRA Group Stock Up 6.1 %

The company’s fifty day moving average is $24.96 and its two-hundred day moving average is $21.91.

PRA Group (NASDAQ:PRAA) last issued its earnings results on Thursday, February 15th. The business services provider reported ($0.22) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.13. The firm had revenue of $221.42 million for the quarter, compared to analysts’ expectations of $208.25 million. PRA Group had a negative net margin of 10.40% and a negative return on equity of 6.82%. The firm’s revenue was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $0.41 earnings per share. Equities analysts forecast that PRA Group, Inc. will post 0.35 EPS for the current year.

Institutional Trading of PRA Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CWM LLC grew its position in PRA Group by 90.5% in the 4th quarter. CWM LLC now owns 1,189 shares of the business services provider’s stock valued at $31,000 after buying an additional 565 shares during the last quarter. Group One Trading L.P. grew its position in PRA Group by 106.7% in the 1st quarter. Group One Trading L.P. now owns 700 shares of the business services provider’s stock valued at $32,000 after buying an additional 11,133 shares during the last quarter. Tower Research Capital LLC TRC grew its position in PRA Group by 147.2% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,073 shares of the business services provider’s stock valued at $42,000 after buying an additional 639 shares during the last quarter. Point72 Hong Kong Ltd grew its position in PRA Group by 38.2% in the 1st quarter. Point72 Hong Kong Ltd now owns 1,050 shares of the business services provider’s stock valued at $47,000 after buying an additional 290 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in PRA Group by 1,032.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,512 shares of the business services provider’s stock valued at $67,000 after buying an additional 3,202 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

About PRA Group

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.