Janney Montgomery Scott upgraded shares of PRA Group, Inc. (NASDAQ:PRAA) from a sell rating to a neutral rating in a report issued on Thursday morning.
A number of other equities analysts also recently issued reports on the stock. Keefe, Bruyette & Woods downgraded shares of PRA Group from an outperform rating to a market perform rating and increased their price target for the company from $36.00 to $40.00 in a report on Tuesday, October 10th. Raymond James Financial, Inc. reissued an underperform rating on shares of PRA Group in a research note on Thursday, September 21st. Citigroup Inc. cut shares of PRA Group to an underperform rating in a research note on Thursday, September 21st. BidaskClub cut shares of PRA Group from a buy rating to a hold rating in a research note on Friday, August 18th. Finally, Zacks Investment Research cut shares of PRA Group from a hold rating to a sell rating in a research note on Thursday, July 13th. Three analysts have rated the stock with a sell rating and three have issued a hold rating to the company. The stock presently has an average rating of Hold and a consensus target price of $40.00.
Shares of PRA Group (NASDAQ PRAA) traded down $0.75 on Thursday, hitting $33.55. 746,700 shares of the stock were exchanged, compared to its average volume of 491,555. The stock has a market cap of $1,549.30, a P/E ratio of 53.59 and a beta of 1.51. PRA Group has a 1-year low of $25.72 and a 1-year high of $42.70.
PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). The company had revenue of $201.00 million during the quarter, compared to analysts’ expectations of $196.96 million. PRA Group had a net margin of 7.57% and a return on equity of 2.98%. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.68 EPS. sell-side analysts forecast that PRA Group will post 1.22 earnings per share for the current fiscal year.
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Hedge funds and other institutional investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in PRA Group by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,829 shares of the business services provider’s stock valued at $107,000 after acquiring an additional 304 shares during the last quarter. Huntington National Bank grew its stake in PRA Group by 5.5% in the 2nd quarter. Huntington National Bank now owns 3,084 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 162 shares during the last quarter. Public Employees Retirement System of Ohio grew its stake in PRA Group by 10.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,150 shares of the business services provider’s stock valued at $119,000 after acquiring an additional 305 shares during the last quarter. UBS Group AG grew its stake in PRA Group by 101.1% in the 1st quarter. UBS Group AG now owns 5,172 shares of the business services provider’s stock valued at $171,000 after acquiring an additional 2,600 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in PRA Group in the 3rd quarter valued at about $189,000.
PRA Group Company Profile
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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