PRA Group (NASDAQ:PRAA – Get Free Report) was upgraded by investment analysts at Wall Street Zen from a “buy” rating to a “strong-buy” rating in a research note issued on Saturday.
PRAA has been the subject of a number of other research reports. Zacks Research upgraded shares of PRA Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, PRA Group presently has an average rating of “Hold” and an average target price of $26.00.
Get Our Latest Stock Report on PRA Group
PRA Group Price Performance
PRA Group (NASDAQ:PRAA – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.51 EPS for the quarter, beating the consensus estimate 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 business had revenue of $372.17 million during the quarter, compared to analysts’ expectations of $299.99 million. As a group, research analysts expect that PRA Group will post 3.93 earnings per share for the current year.
Institutional Trading of PRA Group
Hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in PRA Group in the second quarter valued at approximately $84,183,000. Topline Capital Management LLC increased 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 worth $33,197,000 after purchasing an additional 1,411,707 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in PRA Group by 401.6% during the second quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock worth $11,421,000 after purchasing an additional 481,538 shares during the period. Millennium Management LLC raised its stake in PRA Group by 242.6% during the fourth quarter. Millennium Management LLC now owns 464,320 shares of the business services provider’s stock worth $8,214,000 after purchasing an additional 328,804 shares during the period. 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 valued at $7,027,000 after purchasing an additional 285,858 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.
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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