PRA Group (NASDAQ:PRAA) Stock Moved Down to “Strong Sell” by Zacks Research

Zacks Research lowered shares of PRA Group (NASDAQ:PRAA) from a hold rating to a strong sell rating in a research report sent to investors on Monday,Zacks reports.

A number of other brokerages have also issued reports on PRAA. Wall Street Zen lowered PRA Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 1st. Weiss Ratings downgraded PRA Group from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Reduce”.

PRA Group Stock Performance

NASDAQ PRAA opened at $11.96 on Monday. The stock has a market capitalization of $450.29 million, a P/E ratio of 2.92 and a beta of 1.15. PRA Group has a 1 year low of $10.25 and a 1 year high of $22.55. The business’s fifty day moving average is $19.28 and its two-hundred day moving average is $17.54.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Thursday, November 5th. The business services provider reported $0.39 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.41). The company had revenue of $286.27 million for the quarter, compared to analyst estimates of $307.40 million. PRA Group had a net margin of 12.06% and a return on equity of 14.48%. On average, research analysts forecast that PRA Group will post 3.29 earnings per share for the current year.

Institutional Investors Weigh In On PRA Group

Several hedge funds have recently made changes to their positions in PRAA. BlackRock Inc. purchased a new position in PRA Group during the 2nd quarter worth approximately $84,183,000. Wellington Management Group LLP lifted its holdings in shares of 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 in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of PRA Group by 401.6% in the second quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock worth $11,421,000 after buying an additional 481,538 shares during the period. Susquehanna International Group LLP boosted its position in shares of 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 worth $3,814,000 after buying an additional 149,078 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of PRA Group by 1.9% during the first quarter. Principal Financial Group Inc. now owns 189,572 shares of the business services provider’s stock valued at $3,318,000 after buying an additional 3,606 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

PRA Group Company Profile

PRA Group, Inc. is a global financial services company that purchases and collects portfolios of unpaid and charged-off accounts. Its clients include banks, credit card companies and other lenders seeking to manage delinquent accounts and recover outstanding balances. The company’s services include debt portfolio acquisition and account recovery, with collection approaches that may involve direct customer contact, negotiated repayment arrangements and legal processes, subject to applicable regulations.