PRA Group, Inc. (NASDAQ:PRAA) Receives $25.00 Consensus PT from Brokerages

PRA Group, Inc. (NASDAQ:PRAA) has been given a consensus recommendation of “Moderate Buy” by the five analysts that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $25.00.

PRAA has been the topic of several recent analyst reports. Zacks Research upgraded PRA Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Truist Financial dropped their price target on PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of PRA Group in a research report on Monday.

Insiders Place Their Bets

In related news, Director Geir Olsen purchased 15,000 shares of PRA Group stock in a transaction dated Thursday, November 6th. The stock was bought at an average price of $14.15 per share, for a total transaction of $212,250.00. Following the completion of the acquisition, the director directly owned 58,933 shares of the company’s stock, valued at $833,901.95. This represents a 34.14% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PRA Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRAA. AlphaQuest LLC raised its stake in shares of PRA Group by 43.4% in the 1st quarter. AlphaQuest LLC now owns 11,024 shares of the business services provider’s stock valued at $227,000 after purchasing an additional 3,334 shares during the period. Trexquant Investment LP acquired a new stake in PRA Group in the 1st quarter valued at approximately $1,173,000. State of Wyoming raised its position in PRA Group by 79.8% in the 1st quarter. State of Wyoming now owns 18,442 shares of the business services provider’s stock valued at $380,000 after buying an additional 8,187 shares during the last quarter. PDT Partners LLC lifted its stake in PRA Group by 42.3% in the 1st quarter. PDT Partners LLC now owns 66,613 shares of the business services provider’s stock valued at $1,374,000 after acquiring an additional 19,810 shares in the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its position in PRA Group by 5.1% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 66,416 shares of the business services provider’s stock worth $1,374,000 after acquiring an additional 3,200 shares during the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

PRA Group Price Performance

PRA Group stock opened at $17.72 on Friday. The firm has a market capitalization of $691.26 million, a price-to-earnings ratio of -2.02 and a beta of 1.32. The company’s 50 day simple moving average is $16.04 and its 200 day simple moving average is $15.81. PRA Group has a fifty-two week low of $12.29 and a fifty-two week high of $23.97.

PRA Group (NASDAQ:PRAA) last posted its earnings results on Monday, November 3rd. The business services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. The company had revenue of $247.08 million for the quarter, compared to analyst estimates of $295.77 million. PRA Group had a negative net margin of 29.55% and a positive return on equity of 7.03%. As a group, analysts predict that PRA Group will post 2.1 EPS for the current fiscal year.

About PRA Group

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.