PRA Group (NASDAQ:PRAA) Lifted to Buy at StockNews.com

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

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

PRA Group Stock Performance

NASDAQ PRAA opened at $21.30 on Wednesday. The company has a fifty day moving average of $21.97 and a 200-day moving average of $22.45. PRA Group has a 52-week low of $11.85 and a 52-week high of $31.43. The company has a market capitalization of $839.65 million, a P/E ratio of 213.02 and a beta of 1.49.

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

Insider Activity at PRA Group

In other PRA Group news, Director Geir Olsen acquired 11,750 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $21.39 per share, for a total transaction of $251,332.50. Following the completion of the acquisition, the director now owns 11,750 shares in the company, valued at $251,332.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On PRA Group

A number of institutional investors have recently modified their holdings of PRAA. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PRA Group in the 2nd quarter worth $29,000. nVerses Capital LLC raised its stake in PRA Group by 700.0% during the 2nd quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock valued at $31,000 after buying an additional 1,400 shares during the last quarter. Innealta Capital LLC bought a new position in shares of PRA Group during the 2nd quarter valued at $57,000. PNC Financial Services Group Inc. boosted its stake in shares of PRA Group by 11.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock worth $103,000 after buying an additional 419 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of PRA Group in the first quarter worth $103,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

About PRA Group

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.