PRA Group, Inc. (NASDAQ:PRAA – Get Free Report) has received an average recommendation of “Hold” from the five analysts that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $26.00.
A number of analysts have issued reports on PRAA shares. Zacks Research raised PRA Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Wall Street Zen raised shares of PRA Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a research report on Wednesday, June 24th.
Check Out Our Latest Stock Report on PRA Group
PRA Group Stock Up 1.7%
PRA Group (NASDAQ:PRAA – Get Free Report) last issued its 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. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%.The firm had revenue of $372.17 million for the quarter, compared to analysts’ expectations of $299.99 million. As a group, sell-side analysts expect that PRA Group will post 3.93 earnings per share for the current year.
Institutional Trading of PRA Group
Several hedge funds have recently made changes to their positions in PRAA. BlackRock Inc. purchased a new position in PRA Group in the second quarter worth about $84,183,000. Topline Capital Management LLC raised its position in PRA Group by 168.3% during the second quarter. Topline Capital Management LLC now owns 2,250,629 shares of the business services provider’s stock valued at $33,197,000 after purchasing an additional 1,411,707 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of PRA Group by 401.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock valued at $11,421,000 after purchasing an additional 481,538 shares during the last quarter. Millennium Management LLC lifted its stake in shares of PRA Group by 242.6% in the 4th quarter. Millennium Management LLC now owns 464,320 shares of the business services provider’s stock valued at $8,214,000 after purchasing an additional 328,804 shares during the last quarter. Finally, Jane Street Group LLC boosted its holdings in shares of PRA Group by 256.7% in the 4th quarter. Jane Street Group LLC now owns 397,207 shares of the business services provider’s stock worth $7,027,000 after purchasing an additional 285,858 shares during the period. 97.22% of the stock is currently owned by hedge funds and other institutional investors.
About PRA Group
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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