PRA Group (NASDAQ:PRAA) Shares Up 6%

PRA Group, Inc. (NASDAQ:PRAA)’s share price traded up 6% during mid-day trading on Tuesday . The company traded as high as $22.29 and last traded at $22.11. 32,463 shares traded hands during trading, a decline of 83% from the average session volume of 193,284 shares. The stock had previously closed at $20.86.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Truist Financial reduced their target price on shares of PRA Group from $42.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. StockNews.com raised shares of PRA Group from a “hold” rating to a “buy” rating in a report on Tuesday.

PRA Group Stock Up 5.7 %

The stock’s fifty day moving average is $22.54 and its 200-day moving average is $22.93. The stock has a market cap of $868.82 million, a price-to-earnings ratio of -40.91 and a beta of 1.49.

PRA Group (NASDAQ:PRAA) last posted its earnings results on Monday, August 5th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $245.04 million. During the same period in the previous year, the firm earned ($0.10) earnings per share. The company’s revenue was up 35.9% on a year-over-year basis. As a group, equities research analysts predict that PRA Group, Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at PRA Group

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

Institutional Investors Weigh In On PRA Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its holdings in shares of PRA Group by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,743,076 shares of the business services provider’s stock valued at $34,268,000 after acquiring an additional 20,519 shares in the last quarter. Global Alpha Capital Management Ltd. grew its stake in PRA Group by 5.4% in the first quarter. Global Alpha Capital Management Ltd. now owns 1,708,015 shares of the business services provider’s stock valued at $44,545,000 after purchasing an additional 86,800 shares in the last quarter. William Blair Investment Management LLC increased its position in shares of PRA Group by 0.3% during the 1st quarter. William Blair Investment Management LLC now owns 1,061,093 shares of the business services provider’s stock worth $27,673,000 after purchasing an additional 2,864 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of PRA Group by 13.2% during the 4th 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 last quarter. Finally, Assenagon Asset Management S.A. raised its stake in shares of PRA Group by 353.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 194,235 shares of the business services provider’s stock worth $3,819,000 after purchasing an additional 151,389 shares in the last quarter. 97.22% of the stock is owned by institutional investors.

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.