PRA Group (NASDAQ:PRAA) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PRA Group (NASDAQ:PRAA – Free Report) from a buy rating to a strong-buy rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other brokerages have also recently issued reports on PRAA. Zacks Research raised shares of PRA Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a research note on Monday, September 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.00.

Check Out Our Latest Stock Analysis on PRAA

PRA Group Trading Down 2.9%

Shares of NASDAQ:PRAA opened at $20.05 on Friday. The stock has a 50 day moving average of $19.02 and a 200 day moving average of $18.11. The company has a market cap of $754.88 million, a PE ratio of -2.98 and a beta of 1.11. PRA Group has a 12-month low of $10.25 and a 12-month high of $22.55.

PRA Group (NASDAQ:PRAA – Get Free Report) last released its earnings results on Thursday, August 6th. The business services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.99. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. The company had revenue of $372.17 million for the quarter, compared to analysts’ expectations of $299.99 million. Equities research analysts predict that PRA Group will post 3.93 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Susquehanna International Group LLP lifted its holdings in shares of PRA Group by 288.0% in the second quarter. Susquehanna International Group LLP now owns 200,848 shares of the business services provider’s stock worth $3,814,000 after buying an additional 149,078 shares in the last quarter. Bank of New York Mellon Corp bought a new position in shares of PRA Group during the second quarter worth $2,404,000. Hsbc Holdings PLC purchased a new position in PRA Group during the second quarter valued at $2,275,000. Wellington Management Group LLP grew its stake in PRA Group by 10.3% during the second quarter. Wellington Management Group LLP now owns 827,720 shares of the business services provider’s stock valued at $15,718,000 after acquiring an additional 77,188 shares in the last quarter. Finally, Public Employees Retirement System of Ohio bought a new stake in PRA Group in the 2nd quarter valued at $1,091,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

PRA Group Company Profile

(Get Free Report)

PRA Group, Inc is a global financial services company that purchases portfolios of accounts receivable from banks, credit unions, consumer finance companies and other creditors. These portfolios generally consist of nonperforming or distressed consumer accounts, including unpaid credit card balances, personal loans and other forms of unsecured debt.

After acquiring receivables, PRA Group works directly with consumers to establish repayment arrangements and resolve outstanding obligations.

Further Reading

Analyst Recommendations for PRA Group (NASDAQ:PRAA)

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