PRA Group (NASDAQ:PRAA) Stock Rating Lowered by StockNews.com

PRA Group (NASDAQ:PRAA) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Tuesday.

Separately, JMP Securities reaffirmed a “market outperform” rating and issued a $33.00 price target on shares of PRA Group in a report on Tuesday, May 7th.

PRA Group Price Performance

Shares of NASDAQ PRAA traded up $1.80 during trading hours on Tuesday, hitting $23.13. 169,170 shares of the company’s stock were exchanged, compared to its average volume of 200,702. PRA Group has a 1-year low of $11.85 and a 1-year high of $31.43. The stock has a market capitalization of $910.17 million, a price-to-earnings ratio of -42.83 and a beta of 1.48. The company’s 50-day moving average price is $21.35 and its 200-day moving average price is $23.40.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Monday, May 6th. The business services provider reported $0.09 EPS for the quarter, beating the consensus estimate of ($0.15) by $0.24. The firm had revenue of $255.59 million during the quarter, compared to analysts’ expectations of $233.37 million. PRA Group had a negative return on equity of 1.76% and a negative net margin of 2.37%. The company’s revenue for the quarter was up 64.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.50) EPS. On average, research analysts expect that PRA Group will post 0.7 earnings per share for the current year.

Hedge Funds Weigh In On PRA Group

Hedge funds have recently modified their holdings of the stock. CWM LLC raised its holdings in shares of PRA Group by 90.5% in the 4th quarter. CWM LLC now owns 1,189 shares of the business services provider’s stock worth $31,000 after buying an additional 565 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of PRA Group by 11.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock worth $103,000 after buying an additional 419 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of PRA Group in the 1st quarter worth approximately $103,000. ProShare Advisors LLC acquired a new position in shares of PRA Group in the 1st quarter worth approximately $203,000. Finally, Graham Capital Management L.P. acquired a new position in shares of PRA Group in the 3rd quarter worth approximately $303,000. 97.22% of the stock is owned by institutional investors and hedge funds.

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.