PRA Group (NASDAQ:PRAA) Share Price Crosses Above 50-Day Moving Average – Should You Sell?

PRA Group, Inc. (NASDAQ:PRAA)’s share price crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $19.63 and traded as high as $20.26. PRA Group shares last traded at $20.04, with a volume of 510,282 shares traded.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PRAA shares. Zacks Research cut PRA Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. Wall Street Zen downgraded PRA Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 24th. Finally, Weiss Ratings raised PRA Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $26.00.

PRA Group Trading Up 3.1%

The company has a market capitalization of $754.51 million, a price-to-earnings ratio of -2.98 and a beta of 1.13. The firm’s fifty day simple moving average is $19.63 and its two-hundred day simple moving average is $17.52.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.99. The business had revenue of $372.17 million during the quarter, compared to the consensus estimate of $299.99 million. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. As a group, analysts forecast that PRA Group, Inc. will post 3.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio purchased a new position in PRA Group in the second quarter worth approximately $1,091,000. Bank of New York Mellon Corp acquired a new stake in PRA Group during the second quarter worth $2,404,000. Susquehanna International Group LLP raised its position in PRA Group by 288.0% in the second quarter. Susquehanna International Group LLP now owns 200,848 shares of the business services provider’s stock valued at $3,814,000 after purchasing an additional 149,078 shares during the period. Hsbc Holdings PLC purchased a new stake in PRA Group in the second quarter valued at $2,275,000. Finally, Wellington Management Group LLP raised its position in PRA Group by 10.3% in the second quarter. Wellington Management Group LLP now owns 827,720 shares of the business services provider’s stock valued at $15,718,000 after purchasing an additional 77,188 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

PRA Group Company Profile

PRA Group, Inc is a global financial services company that purchases and manages portfolios of defaulted consumer accounts. The company works with individuals to help resolve outstanding obligations and provides account management, customer service and debt recovery solutions for acquired portfolios.

The company serves consumers and financial institutions across North America, Europe and Australia. Its activities include acquiring nonperforming consumer debt from banks, credit card companies and other financial institutions, as well as servicing portfolios on behalf of third parties in selected markets.

PRA Group was founded in 1996 and is headquartered in Norfolk, Virginia.