Truist Financial Cuts PRA Group (NASDAQ:PRAA) Price Target to $26.00

PRA Group (NASDAQ:PRAA) had its price target cut by Truist Financial from $33.00 to $26.00 in a research report report published on Tuesday morning, MarketBeat reports. They currently have a buy rating on the business services provider’s stock.

Several other research firms have also commented on PRAA. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of PRA Group in a report on Wednesday, October 8th. Citigroup restated an “outperform” rating on shares of PRA Group in a research note on Tuesday, August 5th. JMP Securities set a $24.00 target price on PRA Group and gave the stock a “market outperform” rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of PRA Group from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, PRA Group currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

PRA Group Stock Performance

NASDAQ:PRAA opened at $13.66 on Tuesday. The company has a market capitalization of $533.75 million, a price-to-earnings ratio of 5.86 and a beta of 1.41. PRA Group has a one year low of $12.29 and a one year high of $25.08. The stock has a 50-day simple moving average of $15.26 and a 200 day simple moving average of $15.48.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Monday, November 3rd. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.03. PRA Group had a return on equity of 6.52% and a net margin of 8.10%.The business had revenue of $247.08 million for the quarter, compared to analyst estimates of $295.77 million. On average, equities research analysts forecast that PRA Group will post 2.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its position in shares of PRA Group by 156.1% in the first quarter. Deutsche Bank AG now owns 88,460 shares of the business services provider’s stock worth $1,824,000 after buying an additional 53,922 shares during the period. Wolverine Asset Management LLC lifted its stake in PRA Group by 63.9% in the 1st quarter. Wolverine Asset Management LLC now owns 56,698 shares of the business services provider’s stock worth $1,169,000 after acquiring an additional 22,114 shares in the last quarter. Global Alpha Capital Management Ltd. boosted its position in PRA Group by 6.4% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 2,018,200 shares of the business services provider’s stock worth $41,615,000 after acquiring an additional 122,200 shares during the period. Public Employees Retirement System of Ohio boosted its position in PRA Group by 2,650.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 43,708 shares of the business services provider’s stock worth $645,000 after acquiring an additional 42,119 shares during the period. Finally, Hsbc Holdings PLC grew its stake in PRA Group by 110.5% during the 1st quarter. Hsbc Holdings PLC now owns 79,775 shares of the business services provider’s stock valued at $1,641,000 after acquiring an additional 41,875 shares in the last quarter. Institutional investors and hedge funds 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.