StockNews.com Upgrades PRA Group (NASDAQ:PRAA) to “Buy”

PRA Group (NASDAQ:PRAA) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

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

PRA Group Stock Performance

PRAA opened at $22.28 on Tuesday. PRA Group has a 52-week low of $11.85 and a 52-week high of $31.43. The firm has a market cap of $878.28 million, a P/E ratio of -40.81 and a beta of 1.49. The business’s fifty day moving average is $22.60 and its 200-day moving average is $22.90.

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

Insider Buying and Selling at PRA Group

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

Hedge Funds Weigh In On PRA Group

Several large investors have recently bought and sold shares of PRAA. Dimensional Fund Advisors LP increased its stake 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 buying an additional 20,519 shares during the period. Global Alpha Capital Management Ltd. increased its position in PRA Group by 5.4% in the 1st 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 acquiring an additional 86,800 shares during the period. William Blair Investment Management LLC increased its position in PRA Group by 0.3% in the 1st 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 acquiring an additional 2,864 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of PRA Group by 13.2% during 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 acquiring an additional 77,819 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PRA Group by 353.3% during the second quarter. Assenagon Asset Management S.A. now owns 194,235 shares of the business services provider’s stock worth $3,819,000 after purchasing an additional 151,389 shares during the period. 97.22% of the stock is currently owned by 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.