PRA Group (NASDAQ:PRAA) Upgraded at StockNews.com

StockNews.com upgraded shares of PRA Group (NASDAQ:PRAA) from a hold rating to a buy rating in a research note published on Wednesday morning.

Separately, JMP Securities reiterated a market outperform rating and set a $33.00 price target on shares of PRA Group in a research report on Tuesday, May 7th.

PRA Group Stock Performance

Shares of PRAA traded down $1.00 during trading hours on Wednesday, hitting $22.37. The stock had a trading volume of 145,852 shares, compared to its average volume of 192,442. The firm has a 50-day moving average price of $21.41 and a 200 day moving average price of $23.40. PRA Group has a fifty-two week low of $11.85 and a fifty-two week high of $31.43. The firm has a market capitalization of $880.26 million, a price-to-earnings ratio of -41.43 and a beta of 1.48.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings data on Monday, August 5th. The business services provider reported $0.54 earnings per share for the quarter, beating 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 company had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $245.04 million. During the same quarter in the previous year, the company earned ($0.10) earnings per share. The firm’s revenue for the quarter was up 35.9% on a year-over-year basis. As a group, analysts predict that PRA Group will post 0.7 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Geir Olsen bought 11,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average price of $21.39 per share, for a total transaction of $251,332.50. Following the completion of the transaction, the director now directly owns 11,750 shares in the company, valued at $251,332.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

Hedge Funds Weigh In On PRA Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its stake in PRA Group by 13.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 666,396 shares of the business services provider’s stock valued at $17,460,000 after purchasing an additional 77,819 shares during the last quarter. Global Alpha Capital Management Ltd. raised its position in shares of 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 buying an additional 86,800 shares during the last quarter. Wilbanks Smith & Thomas Asset Management LLC lifted its stake in shares of PRA Group by 192.2% in the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 293,583 shares of the business services provider’s stock worth $7,692,000 after buying an additional 193,117 shares in the last quarter. Redwood Investment Management LLC acquired a new position in PRA Group during the fourth quarter worth about $3,268,000. Finally, State Board of Administration of Florida Retirement System grew its stake 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 valued at $1,408,000 after acquiring an additional 42,950 shares in the last quarter. Hedge funds and other 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.