PRA Group (NASDAQ:PRAA) Downgraded to Hold at StockNews.com

StockNews.com downgraded shares of PRA Group (NASDAQ:PRAA) from a buy rating to a hold rating in a research report released on Monday.

Separately, Truist Financial dropped their price target on shares of PRA Group from $42.00 to $28.00 and set a buy rating for the company in a research note on Tuesday, August 20th.

PRA Group Stock Performance

Shares of NASDAQ:PRAA opened at $20.22 on Monday. PRA Group has a 52-week low of $11.85 and a 52-week high of $31.43. The company has a market capitalization of $795.70 million, a PE ratio of -37.44 and a beta of 1.49. The company has a fifty day moving average of $22.46 and a 200-day moving average of $23.02.

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

Insider Activity

In other PRA Group news, Director Geir Olsen bought 11,750 shares of the stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $21.39 per share, for a total transaction of $251,332.50. Following the completion of the acquisition, the director now owns 11,750 shares in the company, valued at approximately $251,332.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.00% of the company’s stock.

Institutional Trading of PRA Group

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its position in shares of PRA Group by 13.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 666,396 shares of the business services provider’s stock worth $17,460,000 after purchasing an additional 77,819 shares during the period. Global Alpha Capital Management Ltd. raised its holdings in shares of PRA Group by 5.4% in the 1st quarter. Global Alpha Capital Management Ltd. now owns 1,708,015 shares of the business services provider’s stock worth $44,545,000 after acquiring an additional 86,800 shares during the last quarter. Redwood Investment Management LLC bought a new position in PRA Group in the 4th quarter valued at about $3,268,000. State Board of Administration of Florida Retirement System increased its holdings in PRA Group by 389.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 53,977 shares of the business services provider’s stock worth $1,408,000 after purchasing an additional 42,950 shares in the last quarter. Finally, ClariVest Asset Management LLC purchased a new stake in PRA Group in the 2nd quarter valued at $1,343,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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.