PRA Group (NASDAQ:PRAA) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of PRA Group (NASDAQ:PRAA) from a hold rating to a buy rating in a research note released on Tuesday morning.

Separately, Truist Financial dropped their target price on PRA Group from $42.00 to $28.00 and set a buy rating on the stock in a report on Tuesday, August 20th.

PRA Group Price Performance

Shares of PRA Group stock opened at $22.10 on Tuesday. The firm has a market cap of $869.68 million, a price-to-earnings ratio of -40.93 and a beta of 1.49. The stock’s 50-day moving average is $22.70 and its 200-day moving average is $22.90. PRA Group has a one year low of $11.85 and a one year high of $31.43.

PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, August 5th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.46. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The business had revenue of $284.20 million for the quarter, compared to analyst estimates of $245.04 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. PRA Group’s revenue was up 35.9% on a year-over-year basis. On average, equities analysts expect that PRA Group will post 1.33 EPS for the current year.

Insiders Place Their Bets

In other PRA Group news, Director Geir Olsen purchased 11,750 shares of the stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $21.39 per share, with a total value of $251,332.50. Following the completion of the transaction, the director now directly owns 11,750 shares in the company, valued at $251,332.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PRA Group

A number of institutional investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP grew its position in shares of PRA Group by 1.2% in the second quarter. Dimensional Fund Advisors LP now owns 1,743,076 shares of the business services provider’s stock valued at $34,268,000 after purchasing an additional 20,519 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its stake in shares of PRA Group by 5.4% in the first quarter. Global Alpha Capital Management Ltd. now owns 1,708,015 shares of the business services provider’s stock valued at $44,545,000 after buying an additional 86,800 shares during the period. William Blair Investment Management LLC boosted its stake in shares of PRA Group by 0.3% in the first quarter. William Blair Investment Management LLC now owns 1,061,093 shares of the business services provider’s stock valued at $27,673,000 after buying an additional 2,864 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of PRA Group by 13.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 666,396 shares of the business services provider’s stock valued at $17,460,000 after buying an additional 77,819 shares during the period. Finally, Assenagon Asset Management S.A. boosted its stake in shares of PRA Group by 353.3% in the second quarter. Assenagon Asset Management S.A. now owns 194,235 shares of the business services provider’s stock valued at $3,819,000 after buying an additional 151,389 shares during the period. Institutional investors and hedge funds 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.