Analysts at Oppenheimer started coverage on shares of Pra Group (NASDAQ:PRAA) in a research note issued on Monday, January 8th. The brokerage set a “hold” rating on the business services provider’s stock. Oppenheimer also issued estimates for Pra Group’s Q4 2017 earnings at $0.36 EPS, Q1 2018 earnings at $0.52 EPS, Q2 2018 earnings at $0.53 EPS, Q3 2018 earnings at $0.52 EPS, Q4 2018 earnings at $0.56 EPS, FY2018 earnings at $2.12 EPS and FY2019 earnings at $2.86 EPS.
A number of other research firms also recently commented on PRAA. UBS Group assumed coverage on Pra Group in a research report on Monday, January 8th. They issued a “market perform” rating on the stock. Zacks Investment Research upgraded Pra Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 21st. Janney Montgomery Scott cut Pra Group from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 4th. Keefe, Bruyette & Woods cut Pra Group from an “outperform” rating to a “market perform” rating and lifted their price objective for the company from $36.00 to $40.00 in a research note on Tuesday, October 10th. Finally, Raymond James Financial reaffirmed an “underperform” rating on shares of Pra Group in a research note on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $40.00.
Pra Group (PRAA) traded down $0.05 during trading hours on Monday, reaching $35.40. The company’s stock had a trading volume of 221,200 shares, compared to its average volume of 308,900. Pra Group has a 12 month low of $25.72 and a 12 month high of $42.70. The stock has a market capitalization of $1,600.00, a P/E ratio of 28.32 and a beta of 1.59.
Pra Group (NASDAQ:PRAA) last posted its earnings results on Wednesday, November 8th. The business services provider reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). Pra Group had a net margin of 7.57% and a return on equity of 2.98%. The business had revenue of $201.00 million during the quarter, compared to analysts’ expectations of $196.96 million. During the same quarter in the prior year, the firm earned $0.68 EPS. Pra Group’s revenue for the quarter was down 9.5% compared to the same quarter last year. research analysts anticipate that Pra Group will post 1.38 earnings per share for the current fiscal year.
In other news, Director Penelope W. Kyle sold 1,975 shares of Pra Group stock in a transaction on Saturday, December 29th. The stock was sold at an average price of $33.45, for a total value of $66,063.75. Following the completion of the sale, the director now directly owns 36,425 shares of the company’s stock, valued at $1,218,416.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.10% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bath Savings Trust Co grew its stake in Pra Group by 7.8% during the 4th quarter. Bath Savings Trust Co now owns 27,146 shares of the business services provider’s stock worth $901,000 after purchasing an additional 1,975 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Pra Group during the 3rd quarter worth $18,167,000. Sterling Capital Management LLC grew its stake in Pra Group by 15.7% during the 3rd quarter. Sterling Capital Management LLC now owns 56,725 shares of the business services provider’s stock worth $1,625,000 after purchasing an additional 7,712 shares in the last quarter. Zions Bancorporation acquired a new position in Pra Group during the 3rd quarter worth $121,000. Finally, Turtle Creek Asset Management Inc. grew its stake in Pra Group by 35.7% during the 3rd quarter. Turtle Creek Asset Management Inc. now owns 5,955,965 shares of the business services provider’s stock worth $170,638,000 after purchasing an additional 1,566,430 shares in the last quarter.
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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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