PRA Group (NASDAQ:PRAA) Lifted to Buy at StockNews.com

PRA Group (NASDAQ:PRAA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Tuesday.

Separately, Truist Financial decreased their price objective on shares of PRA Group from $42.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th.

PRA Group Stock Down 3.7 %

Shares of NASDAQ:PRAA opened at $20.86 on Tuesday. PRA Group has a 12 month low of $11.85 and a 12 month high of $31.43. The company’s 50-day moving average price is $22.51 and its two-hundred day moving average price is $22.96. The firm has a market cap of $822.30 million, a P/E ratio of -38.63 and a beta of 1.49.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Monday, August 5th. The business services provider reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.46. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. The firm had revenue of $284.20 million for the quarter, compared to analyst estimates of $245.04 million. During the same quarter in the prior year, the firm earned ($0.10) EPS. The company’s revenue was up 35.9% on a year-over-year basis. As a group, equities analysts predict that PRA Group will post 1.33 earnings per share for the current fiscal year.

Insider Activity

In other PRA Group news, Director Geir Olsen bought 11,750 shares of PRA Group stock in a transaction dated Wednesday, August 7th. The shares were bought at an average price of $21.39 per share, with a total value of $251,332.50. Following the purchase, the director now owns 11,750 shares of the company’s stock, valued at $251,332.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PRA Group in the 2nd quarter valued at about $29,000. nVerses Capital LLC boosted its stake in PRA Group by 700.0% during the 2nd quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,400 shares during the last quarter. Innealta Capital LLC acquired a new position in PRA Group during the second quarter valued at approximately $57,000. PNC Financial Services Group Inc. increased its stake in PRA Group by 11.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 419 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in PRA Group in the first quarter valued at approximately $103,000. Institutional investors own 97.22% of the company’s stock.

About PRA Group

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.