Insider Buying: PRA Group (NASDAQ:PRAA) Director Acquires 15,000 Shares of Stock

PRA Group, Inc. (NASDAQ:PRAA) Director Geir Olsen bought 15,000 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were acquired at an average price of $14.15 per share, for a total transaction of $212,250.00. Following the acquisition, the director owned 58,933 shares in the company, valued at approximately $833,901.95. This represents a 34.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PRA Group Stock Performance

Shares of PRA Group stock traded up $0.68 during midday trading on Monday, hitting $15.42. The company had a trading volume of 289,198 shares, compared to its average volume of 367,650. The company has a 50 day moving average of $15.21 and a 200 day moving average of $15.44. The stock has a market capitalization of $602.33 million, a P/E ratio of 6.59 and a beta of 1.41. PRA Group, Inc. has a 52-week low of $12.29 and a 52-week high of $24.69.

PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, November 3rd. The business services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $247.08 million for the quarter, compared to analysts’ expectations of $295.77 million. PRA Group had a return on equity of 6.52% and a net margin of 8.10%. Equities research analysts forecast that PRA Group, Inc. will post 2.1 EPS for the current year.

Analyst Upgrades and Downgrades

PRAA has been the topic of a number of research analyst reports. Truist Financial lowered their price objective on shares of PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. Wall Street Zen raised PRA Group from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Zacks Research raised PRA Group from a “hold” rating to a “strong-buy” rating in a report on Thursday. Weiss Ratings restated a “sell (d+)” rating on shares of PRA Group in a research note on Wednesday, October 8th. Finally, JMP Securities set a $24.00 price objective on shares of PRA Group and gave the stock a “market outperform” rating in a research note on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, PRA Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in PRAA. Bleakley Financial Group LLC acquired a new stake in shares of PRA Group in the 3rd quarter worth $205,000. Public Sector Pension Investment Board increased its holdings in shares of PRA Group by 12.7% during the third quarter. Public Sector Pension Investment Board now owns 152,412 shares of the business services provider’s stock valued at $2,353,000 after acquiring an additional 17,200 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in shares of PRA Group by 6.4% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 21,489 shares of the business services provider’s stock valued at $332,000 after purchasing an additional 1,297 shares during the last quarter. Envestnet Asset Management Inc. grew its position in PRA Group by 2.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 122,175 shares of the business services provider’s stock worth $1,886,000 after purchasing an additional 3,432 shares during the last quarter. Finally, Capital Management Corp VA increased its stake in PRA Group by 2.5% during the 3rd quarter. Capital Management Corp VA now owns 565,346 shares of the business services provider’s stock valued at $8,729,000 after purchasing an additional 13,823 shares in the last quarter. Hedge funds and other 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.