PRA Group (NASDAQ:PRAA) Price Target Raised to $31.00

PRA Group (NASDAQ:PRAA) had its target price lifted by Truist Financial from $28.00 to $31.00 in a research note published on Tuesday morning,Benzinga reports. Truist Financial currently has a buy rating on the business services provider’s stock.

Separately, StockNews.com raised shares of PRA Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th.

PRA Group Stock Down 2.1 %

Shares of PRAA opened at $24.21 on Tuesday. The stock’s fifty day simple moving average is $21.42 and its 200-day simple moving average is $22.06. The firm has a market capitalization of $954.36 million, a PE ratio of 22.01 and a beta of 1.50. PRA Group has a 12-month low of $15.63 and a 12-month high of $31.43.

PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, November 4th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.37. The company had revenue of $281.48 million for the quarter, compared to the consensus estimate of $262.20 million. PRA Group had a net margin of 4.16% and a return on equity of 2.94%. The company’s revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.31) EPS. Analysts anticipate that PRA Group will post 1.33 EPS for the current year.

Hedge Funds Weigh In On PRA Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PRAA. Texas Permanent School Fund Corp raised its position in shares of PRA Group by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 34,176 shares of the business services provider’s stock valued at $891,000 after acquiring an additional 504 shares during the period. The Manufacturers Life Insurance Company increased its stake in PRA Group by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,929 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 712 shares in the last quarter. Sei Investments Co. increased its stake in PRA Group by 0.9% in the second quarter. Sei Investments Co. now owns 95,473 shares of the business services provider’s stock valued at $1,877,000 after purchasing an additional 826 shares in the last quarter. Quest Partners LLC raised its holdings in PRA Group by 14.2% in the second quarter. Quest Partners LLC now owns 10,179 shares of the business services provider’s stock worth $200,000 after purchasing an additional 1,267 shares during the period. Finally, nVerses Capital LLC boosted its position in shares of PRA Group by 700.0% during the second quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,400 shares in the last quarter. Institutional investors own 97.22% of the company’s stock.

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.