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

PRA Group (NASDAQ:PRAA) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

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

PRA Group Stock Up 1.2 %

PRAA stock opened at $21.25 on Wednesday. PRA Group has a twelve month low of $11.85 and a twelve month high of $31.43. The firm has a market capitalization of $836.23 million, a PE ratio of -39.35 and a beta of 1.49. The stock has a 50-day simple moving average of $22.03 and a two-hundred day simple moving average of $22.49.

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 analysts’ consensus estimates of $0.08 by $0.46. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. 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 firm posted ($0.10) EPS. PRA Group’s revenue was up 35.9% on a year-over-year basis. On average, equities research analysts anticipate that PRA Group will post 1.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Geir Olsen bought 11,750 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $21.39 per share, for a total transaction 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 2.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Global Alpha Capital Management Ltd. boosted its holdings in shares of 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 worth $44,545,000 after purchasing an additional 86,800 shares in the last quarter. Hsbc Holdings PLC boosted its stake in PRA Group by 121.7% in the second quarter. Hsbc Holdings PLC now owns 64,157 shares of the business services provider’s stock worth $1,247,000 after buying an additional 35,219 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in PRA Group by 389.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 53,977 shares of the business services provider’s stock valued at $1,408,000 after acquiring an additional 42,950 shares during the last quarter. ClariVest Asset Management LLC purchased a new position in shares of PRA Group during the second quarter worth approximately $1,343,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PRA Group by 353.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 194,235 shares of the business services provider’s stock worth $3,819,000 after acquiring an additional 151,389 shares during the last quarter. 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.