PRA Group (NASDAQ:PRAA) Share Price Crosses Above 200-Day Moving Average – Here’s What Happened
by Jessica Moore · The Cerbat GemPRA Group, Inc. (NASDAQ:PRAA – Get Free Report)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $16.54 and traded as high as $16.77. PRA Group shares last traded at $16.15, with a volume of 390,157 shares trading hands.
Wall Street Analysts Forecast Growth
Several analysts have recently commented on PRAA shares. Wall Street Zen lowered shares of PRA Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Weiss Ratings reissued a “sell (d)” rating on shares of PRA Group in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $25.00.
Read Our Latest Stock Report on PRA Group
PRA Group Trading Up 5.1%
The stock has a market cap of $647.62 million, a price-to-earnings ratio of -2.37 and a beta of 1.10. The company’s fifty day moving average is $16.49 and its two-hundred day moving average is $16.54.
PRA Group (NASDAQ:PRAA – Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.22. PRA Group had a positive return on equity of 13.19% and a negative net margin of 22.51%.The company had revenue of $314.53 million for the quarter, compared to analysts’ expectations of $295.90 million. Analysts predict that PRA Group, Inc. will post 2.52 EPS for the current year.
Hedge Funds Weigh In On PRA Group
Several institutional investors have recently bought and sold shares of the company. OP Asset Management Ltd purchased a new stake in shares of PRA Group during the first quarter worth approximately $483,000. UBS Group AG lifted its stake in PRA Group by 87.2% in the fourth quarter. UBS Group AG now owns 346,436 shares of the business services provider’s stock worth $6,128,000 after acquiring an additional 161,407 shares during the last quarter. Walleye Capital LLC acquired a new position in PRA Group during the 1st quarter worth approximately $731,000. Bleakley Financial Group LLC grew its holdings in PRA Group by 58.0% during the 4th quarter. Bleakley Financial Group LLC now owns 20,970 shares of the business services provider’s stock worth $371,000 after acquiring an additional 7,701 shares in the last quarter. Finally, EverSource Wealth Advisors LLC increased its position in shares of PRA Group by 145.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 1,471 shares during the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.
PRA Group Company Profile
PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.
The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.