PRA Group (NASDAQ:PRAA) Stock Price Breaks Above Two Hundred Day Moving Average – Here’s Why

by · The Markets Daily

PRA 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 $18.32 and traded as high as $20.29. PRA Group shares last traded at $19.95, with a volume of 248,945 shares trading hands.

Analyst Ratings Changes

Several research analysts have commented on PRAA shares. Weiss Ratings raised PRA Group from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of PRA Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Finally, Zacks Research downgraded shares of PRA Group from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 6th. One investment analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, PRA Group presently has a consensus rating of “Hold” and an average price target of $26.00.

Check Out Our Latest Report on PRA Group

PRA Group Stock Performance

The business has a fifty day simple moving average of $19.62 and a 200-day simple moving average of $18.33. The firm has a market cap of $730.03 million, a price-to-earnings ratio of -2.88 and a beta of 1.13.

PRA Group (NASDAQ:PRAA – Get Free Report) last posted its earnings results on Thursday, August 6th. The business services provider reported $1.51 EPS for the quarter, beating the consensus estimate 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 firm had revenue of $372.17 million during the quarter, compared to the consensus estimate of $299.99 million. On average, equities analysts anticipate that PRA Group, Inc. will post 3.93 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new stake in PRA Group during the 2nd quarter worth approximately $84,183,000. Wellington Management Group LLP increased its position in PRA Group by 10.3% in the 2nd quarter. Wellington Management Group LLP now owns 827,720 shares of the business services provider’s stock valued at $15,718,000 after acquiring an additional 77,188 shares during the period. Assenagon Asset Management S.A. increased its position in PRA Group by 401.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock valued at $11,421,000 after acquiring an additional 481,538 shares during the period. Susquehanna International Group LLP raised its stake in shares of PRA Group by 288.0% during the second quarter. Susquehanna International Group LLP now owns 200,848 shares of the business services provider’s stock valued at $3,814,000 after acquiring an additional 149,078 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in shares of PRA Group by 1.9% during the first quarter. Principal Financial Group Inc. now owns 189,572 shares of the business services provider’s stock valued at $3,318,000 after acquiring an additional 3,606 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.

PRA Group Company Profile

(Get Free Report)

PRA Group, Inc is a global financial services company that purchases portfolios of nonperforming consumer accounts from banks, credit unions and other lenders. The company works with consumers to resolve outstanding obligations through a range of repayment and account-management arrangements.

Its business includes the acquisition, servicing and collection of unpaid consumer loans and other receivables. PRA Group also provides related portfolio-management and consulting services, using data analysis and customer-focused communication to manage accounts throughout their recovery cycle.

Founded in 1996 and headquartered in Norfolk, Virginia, PRA Group serves consumers and financial institutions across North America, Europe and Australia.

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