PRA Group (NASDAQ:PRAA – Get Rating) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Friday.
Several other brokerages have also recently weighed in on PRAA. Truist Financial decreased their price target on PRA Group from $50.00 to $42.00 in a research report on Tuesday, May 9th. JMP Securities decreased their price objective on shares of PRA Group from $50.00 to $42.00 in a research report on Tuesday, May 9th. TheStreet cut shares of PRA Group from a “b-” rating to a “c+” rating in a research report on Tuesday, May 2nd. Finally, Raymond James decreased their price objective on shares of PRA Group from $42.00 to $33.00 in a research report on Thursday.
PRA Group Stock Down 1.7 %
PRAA stock traded down $0.40 during midday trading on Friday, reaching $23.06. 379,528 shares of the company’s stock traded hands, compared to its average volume of 366,788. The company has a market cap of $903.26 million, a price-to-earnings ratio of 51.25 and a beta of 1.17. The firm’s fifty day moving average price is $29.03 and its 200-day moving average price is $34.52. PRA Group has a 52 week low of $17.74 and a 52 week high of $43.34.
PRA Group (NASDAQ:PRAA – Get Rating) last announced its quarterly earnings data on Monday, May 8th. The business services provider reported ($1.50) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.45 by ($1.95). PRA Group had a net margin of 2.10% and a return on equity of 1.50%. The firm had revenue of $155.50 million during the quarter, compared to the consensus estimate of $223.52 million. During the same quarter in the prior year, the firm posted $0.97 earnings per share. The company’s revenue was down 35.4% on a year-over-year basis. Analysts forecast that PRA Group will post -1.75 earnings per share for the current year.
Insiders Place Their Bets
In other news, Director Brett Lee Paschke bought 7,500 shares of the business’s stock in a transaction on Wednesday, May 17th. The stock was acquired at an average price of $18.91 per share, with a total value of $141,825.00. Following the completion of the purchase, the director now directly owns 12,250 shares in the company, valued at $231,647.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PRA Group news, CEO Vikram A. Atal purchased 40,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was bought at an average price of $18.81 per share, with a total value of $752,400.00. Following the completion of the purchase, the chief executive officer now directly owns 20,000 shares of the company’s stock, valued at approximately $376,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Brett Lee Paschke purchased 7,500 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The stock was acquired at an average cost of $18.91 per share, with a total value of $141,825.00. Following the purchase, the director now directly owns 12,250 shares of the company’s stock, valued at $231,647.50. The disclosure for this purchase can be found here. Insiders bought a total of 54,925 shares of company stock valued at $1,044,210 over the last quarter. 2.00% of the stock is owned by corporate insiders.
Hedge Funds Weigh In On PRA Group
Several large investors have recently modified their holdings of the stock. 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 acquiring an additional 290 shares during the last quarter. Arizona State Retirement System raised its stake in shares of PRA Group by 2.7% in the first quarter. Arizona State Retirement System now owns 11,293 shares of the business services provider’s stock worth $440,000 after purchasing an additional 295 shares during the last quarter. Captrust Financial Advisors raised its stake in shares of PRA Group by 15.3% in the second quarter. Captrust Financial Advisors now owns 2,387 shares of the business services provider’s stock worth $87,000 after purchasing an additional 317 shares during the last quarter. IFP Advisors Inc raised its stake in shares of PRA Group by 28.3% in the third quarter. IFP Advisors Inc now owns 1,597 shares of the business services provider’s stock worth $74,000 after purchasing an additional 352 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in PRA Group by 147.2% during the first quarter. Tower Research Capital LLC TRC now owns 1,073 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 639 shares in the last quarter.
About PRA Group
PRA Group, Inc engages in the purchase, collection and management of portfolios of nonperforming loans. The firm purchase portfolios of nonperforming loans at a discount in two broad categories: Core and Insolvency. It also provides fee-based services on class action claims recoveries and by servicing consumer bankruptcy accounts in the United States.