PRA Group (NASDAQ:PRAA) Issues Quarterly Earnings Results, Beats Estimates By $0.96 EPS

PRA Group (NASDAQ:PRAA) released its earnings results on Thursday. The business services provider reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.96, FiscalAI reports. PRA Group had a positive return on equity of 7.03% and a negative net margin of 29.55%.The business had revenue of $333.39 million for the quarter, compared to analysts’ expectations of $288.86 million.

PRA Group Price Performance

PRAA stock traded up $0.97 during midday trading on Thursday, hitting $12.67. The stock had a trading volume of 839,392 shares, compared to its average volume of 469,302. The firm has a market cap of $494.32 million, a price-to-earnings ratio of -1.44 and a beta of 1.29. The business has a 50-day moving average of $14.67 and a two-hundred day moving average of $15.41. PRA Group has a 52-week low of $10.25 and a 52-week high of $22.17.

Wall Street Analysts Forecast Growth

PRAA has been the topic of several recent research reports. Zacks Research lowered PRA Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Citizens Jmp cut shares of PRA Group from a “market outperform” rating to a “market perform” rating in a research report on Wednesday, January 28th. Citigroup lowered shares of PRA Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 28th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a report on Monday, December 29th. Finally, Truist Financial decreased their target price on shares of PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, PRA Group currently has an average rating of “Hold” and an average target price of $25.00.

Institutional Trading of PRA Group

Hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC purchased a new stake in PRA Group during the 4th quarter valued at about $27,000. Tower Research Capital LLC TRC boosted its stake in shares of PRA Group by 375.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider’s stock worth $71,000 after buying an additional 3,777 shares during the last quarter. Globeflex Capital L P purchased a new stake in PRA Group during the second quarter valued at $102,000. iSAM Funds UK Ltd bought a new position in shares of PRA Group in the 3rd quarter worth approximately $107,000. Finally, Dynamic Technology Lab Private Ltd purchased a new position in shares of PRA Group during the 3rd quarter worth $156,000. 97.22% of the stock is owned by institutional investors.

About PRA Group

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.