PRA Group (NASDAQ:PRAA) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

Shares of PRA Group, Inc. (NASDAQ:PRAA) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $16.52 and traded as high as $17.92. PRA Group shares last traded at $17.51, with a volume of 431,256 shares traded.

Wall Street Analyst Weigh In

PRAA has been the topic of a number of research analyst reports. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a report on Wednesday, June 24th. Wall Street Zen downgraded PRA Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. 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 stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.00.

PRA Group Stock Performance

The company’s fifty day moving average price is $16.78 and its 200 day moving average price is $16.52. The firm has a market capitalization of $667.83 million, a price-to-earnings ratio of -2.45 and a beta of 1.10.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.22. The business had revenue of $314.53 million during the quarter, compared to the consensus estimate of $295.90 million. PRA Group had a negative net margin of 22.51% and a positive return on equity of 13.19%. As a group, sell-side analysts expect that PRA Group, Inc. will post 2.52 earnings per share for the current year.

Institutional Trading of PRA Group

Institutional investors and hedge funds have recently made changes to their positions in the stock. Los Angeles Capital Management LLC bought a new stake in shares of PRA Group in the 4th quarter worth approximately $27,000. EverSource Wealth Advisors LLC grew its stake in PRA Group by 145.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider’s stock worth $44,000 after buying an additional 1,471 shares during the last quarter. Larson Financial Group LLC grew its stake in PRA Group by 146.8% during the 4th quarter. Larson Financial Group LLC now owns 2,848 shares of the business services provider’s stock worth $50,000 after buying an additional 1,694 shares during the last quarter. Tower Research Capital LLC TRC grew its stake in PRA Group by 375.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider’s stock worth $71,000 after buying an additional 3,777 shares during the last quarter. Finally, Globeflex Capital L P acquired a new stake in PRA Group in the second quarter worth $102,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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.