PRA Group (NASDAQ:PRAA – Get Free Report) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.
A number of other brokerages also recently issued reports on PRAA. Wall Street Zen downgraded shares of PRA Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Weiss Ratings reissued a “sell (d)” rating on shares of PRA Group in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.00.
Read Our Latest Research Report on PRA Group
PRA Group Stock Performance
PRA Group (NASDAQ:PRAA – Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.99. The firm had revenue of $372.17 million during the quarter, compared to analyst estimates of $299.99 million. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%. On average, analysts forecast that PRA Group will post 3.93 earnings per share for the current fiscal year.
Hedge Funds Weigh In On PRA Group
Large investors have recently made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its holdings in PRA Group by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,523 shares of the business services provider’s stock worth $214,000 after buying an additional 768 shares in the last quarter. Focus Partners Wealth increased its position in shares of PRA Group by 1.0% during the fourth quarter. Focus Partners Wealth now owns 94,900 shares of the business services provider’s stock worth $1,679,000 after acquiring an additional 927 shares during the period. SG Americas Securities LLC increased its position in shares of PRA Group by 8.8% during the fourth quarter. SG Americas Securities LLC now owns 12,051 shares of the business services provider’s stock worth $213,000 after acquiring an additional 974 shares during the period. Mariner LLC raised its stake in shares of PRA Group by 3.2% in the third quarter. Mariner LLC now owns 31,045 shares of the business services provider’s stock valued at $479,000 after acquiring an additional 975 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PRA Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider’s stock valued at $476,000 after acquiring an additional 1,020 shares in the last quarter. 97.22% of the stock is currently owned by hedge funds and other institutional investors.
PRA Group Company Profile
PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.
The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.
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