PRA Group (NASDAQ:PRAA) Reaches New 1-Year Low on Analyst Downgrade

PRA Group, Inc. (NASDAQ:PRAA)’s stock price reached a new 52-week low during trading on Tuesday after Truist Financial lowered their price target on the stock from $33.00 to $26.00. Truist Financial currently has a buy rating on the stock. PRA Group traded as low as $12.29 and last traded at $13.0750, with a volume of 145124 shares changing hands. The stock had previously closed at $14.65.

PRAA has been the topic of a number of other research reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of PRA Group in a report on Wednesday, October 8th. Citigroup reiterated an “outperform” rating on shares of PRA Group in a research note on Tuesday, August 5th. Wall Street Zen raised shares of PRA Group from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, JMP Securities set a $24.00 price objective on shares of PRA Group and gave the company a “market outperform” rating in a report on Tuesday, August 5th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $25.00.

Institutional Trading of PRA Group

Large investors have recently added to or reduced their stakes in the business. Deutsche Bank AG grew its position in PRA Group by 156.1% during the first quarter. Deutsche Bank AG now owns 88,460 shares of the business services provider’s stock valued at $1,824,000 after buying an additional 53,922 shares during the period. Wolverine Asset Management LLC lifted its holdings in PRA Group by 63.9% during the first quarter. Wolverine Asset Management LLC now owns 56,698 shares of the business services provider’s stock valued at $1,169,000 after purchasing an additional 22,114 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in PRA Group by 6.4% during the first quarter. Global Alpha Capital Management Ltd. now owns 2,018,200 shares of the business services provider’s stock valued at $41,615,000 after purchasing an additional 122,200 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in PRA Group by 2,650.7% during the second quarter. Public Employees Retirement System of Ohio now owns 43,708 shares of the business services provider’s stock valued at $645,000 after purchasing an additional 42,119 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in PRA Group by 110.5% during the first quarter. Hsbc Holdings PLC now owns 79,775 shares of the business services provider’s stock valued at $1,641,000 after purchasing an additional 41,875 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors.

PRA Group Stock Down 13.5%

The firm has a market cap of $494.95 million, a PE ratio of 5.48 and a beta of 1.45. The firm’s fifty day simple moving average is $15.48 and its two-hundred day simple moving average is $15.53.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Monday, November 3rd. The business services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. PRA Group had a net margin of 8.10% and a return on equity of 6.52%. The business had revenue of $247.08 million for the quarter, compared to the consensus estimate of $295.77 million. As a group, analysts anticipate that PRA Group, Inc. will post 2.1 earnings per share for the current fiscal year.

PRA Group Company Profile

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.