StockNews.com Downgrades PRA Group (NASDAQ:PRAA) to Hold

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

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

PRA Group Trading Down 1.9 %

PRAA stock traded down $0.41 during trading on Tuesday, hitting $21.22. 112,626 shares of the company’s stock were exchanged, compared to its average volume of 196,208. The business has a 50-day moving average price of $22.28 and a two-hundred day moving average price of $22.66. The stock has a market capitalization of $835.05 million, a price-to-earnings ratio of -39.30 and a beta of 1.49. PRA Group has a 52-week low of $11.85 and a 52-week high of $31.43.

PRA Group (NASDAQ:PRAA) last posted its earnings results on Monday, August 5th. The business services provider reported $0.54 earnings per share 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 firm had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $245.04 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share. The firm’s revenue was up 35.9% compared to the same quarter last year. On average, equities research analysts anticipate that PRA Group will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Geir Olsen acquired 11,750 shares of PRA Group stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired 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 of the company’s stock, valued at approximately $251,332.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PRA Group

Several institutional investors and hedge funds have recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. acquired a new position in PRA Group during the second quarter worth approximately $29,000. nVerses Capital LLC increased its position in shares of PRA Group by 700.0% in the second quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,400 shares in the last quarter. Innealta Capital LLC acquired a new stake in shares of PRA Group in the second quarter worth $57,000. PNC Financial Services Group Inc. increased its position in shares of PRA Group by 11.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock worth $103,000 after acquiring an additional 419 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in shares of PRA Group in the first quarter worth $103,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

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.