PRA Group (NASDAQ:PRAA) Cut to Buy at Wall Street Zen

by · The Cerbat Gem

Wall Street Zen cut shares of PRA Group (NASDAQ:PRAA – Free Report) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday morning,Wall Street Zen reports.

Other equities research analysts have also issued reports about the company. Zacks Research raised PRA Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of PRA Group in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $26.00.

Get Our Latest Analysis on PRA Group

PRA Group Stock Performance

PRA Group stock opened at $19.02 on Friday. The firm has a market cap of $716.10 million, a price-to-earnings ratio of -2.83 and a beta of 1.11. PRA Group has a 1 year low of $10.25 and a 1 year high of $22.55. The firm’s 50 day moving average price is $18.52 and its two-hundred day moving average price is $17.56.

PRA Group (NASDAQ:PRAA – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.99. The company had revenue of $372.17 million during the quarter, compared to the consensus estimate of $299.99 million. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%. As a group, equities analysts predict that PRA Group will post 3.93 EPS for the current fiscal year.

Institutional Investors Weigh In On PRA Group

Institutional investors have recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of PRA Group in the 2nd quarter valued at about $84,183,000. Topline Capital Management LLC grew its position in PRA Group by 168.3% during the second quarter. Topline Capital Management LLC now owns 2,250,629 shares of the business services provider’s stock valued at $33,197,000 after purchasing an additional 1,411,707 shares in the last quarter. State Street Corp grew its position in PRA Group by 0.3% during the fourth quarter. State Street Corp now owns 1,499,488 shares of the business services provider’s stock valued at $26,526,000 after purchasing an additional 4,895 shares in the last quarter. Wellington Management Group LLP increased its stake in PRA Group by 13.7% in the 4th quarter. Wellington Management Group LLP now owns 1,296,830 shares of the business services provider’s stock valued at $22,941,000 after buying an additional 156,520 shares during the period. Finally, Invesco Ltd. lifted its position in PRA Group by 15.5% in the 2nd quarter. Invesco Ltd. now owns 819,742 shares of the business services provider’s stock worth $12,091,000 after buying an additional 109,857 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

About PRA Group

(Get Free Report)

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.

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