PRA Group (NASDAQ:PRAA) Upgraded by StockNews.com to Buy

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

Separately, Truist Financial dropped 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 report on Tuesday, August 20th.

PRA Group Trading Down 3.7 %

Shares of PRAA stock opened at $20.86 on Tuesday. PRA Group has a 1 year low of $11.85 and a 1 year high of $31.43. The firm’s fifty day simple moving average is $22.51 and its 200 day simple moving average is $22.96. The firm has a market capitalization of $822.30 million, a P/E ratio of -38.63 and a beta of 1.49.

PRA Group (NASDAQ:PRAA) last announced 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 net margin of 0.40% and a return on equity of 0.33%. The business had revenue of $284.20 million for the quarter, compared to analyst estimates of $245.04 million. During the same quarter in the previous year, the firm posted ($0.10) earnings per share. PRA Group’s revenue was up 35.9% compared to the same quarter last year. Equities research analysts anticipate that PRA Group will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling at PRA Group

In other PRA Group news, Director Geir Olsen purchased 11,750 shares of the stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $21.39 per share, with a total value of $251,332.50. Following the acquisition, the director now directly owns 11,750 shares of the company’s stock, valued at approximately $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 Investors Weigh In On PRA Group

Several institutional investors and hedge funds have recently bought and sold shares of PRAA. Charles Schwab Investment Management Inc. grew its holdings in shares of 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 worth $17,460,000 after purchasing an additional 77,819 shares during the last quarter. Global Alpha Capital Management Ltd. increased its position in shares of PRA Group by 5.4% during 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 purchasing an additional 86,800 shares in the last quarter. Redwood Investment Management LLC acquired a new stake in shares of PRA Group during the 4th quarter worth about $3,268,000. State Board of Administration of Florida Retirement System increased its position in shares of 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 acquired a new stake in shares of PRA Group during the 2nd quarter worth about $1,343,000. Institutional investors own 97.22% of the company’s stock.

PRA Group Company Profile

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.