PRA Group (NASDAQ:PRAA) Stock Crosses Above 50-Day Moving Average – Here’s Why

by · The Markets Daily

PRA Group, Inc. (NASDAQ:PRAA – Get Free Report) shares passed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $19.63 and traded as high as $20.26. PRA Group shares last traded at $20.04, with a volume of 510,282 shares changing hands.

Wall Street Analyst Weigh In

PRAA has been the subject of a number of recent research reports. Wall Street Zen downgraded shares of PRA Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 24th. Zacks Research cut shares of PRA Group from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings raised PRA Group from a “sell (d)” rating to a “sell (d+)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, PRA Group currently has an average rating of “Hold” and a consensus price target of $26.00.

Read Our Latest Stock Analysis on PRA Group

PRA Group Stock Performance

The business has a 50-day simple moving average of $19.65 and a two-hundred day simple moving average of $17.53. The company has a market capitalization of $733.76 million, a price-to-earnings ratio of -2.90 and a beta of 1.13.

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

Institutional Trading of PRA Group

Several hedge funds have recently modified their holdings of PRAA. Blueprint Investment Partners LLC acquired a new position in PRA Group in the third quarter valued at $326,000. Blueprint Financial Advisors LLC acquired a new stake in PRA Group in the 3rd quarter worth about $326,000. Financial Management Professionals Inc. purchased a new stake in PRA Group in the 3rd quarter valued at about $30,000. Simplicity Wealth LLC acquired a new position in shares of PRA Group during the 3rd quarter valued at about $264,000. Finally, Sterling Capital Management LLC lifted its holdings in shares of PRA Group by 1,828.3% during the 3rd quarter. Sterling Capital Management LLC now owns 14,906 shares of the business services provider’s stock worth $291,000 after acquiring an additional 14,133 shares during the period. 97.22% of the stock is owned by institutional investors and hedge funds.

About PRA Group

(Get Free Report)

PRA Group, Inc is a global financial services company that purchases and manages portfolios of defaulted consumer accounts. The company works with individuals to help resolve outstanding obligations and provides account management, customer service and debt recovery solutions for acquired portfolios.

The company serves consumers and financial institutions across North America, Europe and Australia. Its activities include acquiring nonperforming consumer debt from banks, credit card companies and other financial institutions, as well as servicing portfolios on behalf of third parties in selected markets.

PRA Group was founded in 1996 and is headquartered in Norfolk, Virginia.

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