Analysts at Keefe, Bruyette & Woods initiated coverage on shares of PRA Group, Inc. (NASDAQ:PRAA) in a research report issued on Wednesday, May 24th, Marketbeat Ratings reports. The brokerage set an “outperform” rating and a $40.00 price target on the business services provider’s stock. Keefe, Bruyette & Woods’ price objective would suggest a potential upside of 11.42% from the stock’s previous close.
Separately, Zacks Investment Research upgraded shares of PRA Group from a “strong sell” rating to a “hold” rating in a research report on Friday, March 3rd. One equities research analyst has rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $38.00.
Shares of PRA Group (PRAA) traded down 1.64% during midday trading on Wednesday, hitting $35.90. 460,814 shares of the company were exchanged. The stock’s 50-day moving average is $35.61 and its 200-day moving average is $36.20. PRA Group has a one year low of $21.93 and a one year high of $42.70. The stock has a market cap of $1.67 billion, a PE ratio of 16.52 and a beta of 1.66.
PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Tuesday, May 9th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by $0.06. PRA Group had a net margin of 12.47% and a return on equity of 7.57%. The firm had revenue of $206.56 million for the quarter, compared to the consensus estimate of $198.48 million. During the same period in the prior year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was down 8.1% on a year-over-year basis. Equities research analysts anticipate that PRA Group will post $2.05 EPS for the current year.
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In other news, Director Geir Olsen bought 142,000 shares of the stock in a transaction that occurred on Tuesday, May 23rd. The shares were acquired at an average cost of $34.55 per share, for a total transaction of $4,906,100.00. Following the completion of the acquisition, the director now owns 27,162 shares in the company, valued at $938,447.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.
A number of large investors have recently bought and sold shares of the company. Hood River Capital Management LLC bought a new stake in shares of PRA Group during the third quarter valued at approximately $13,029,000. BlackRock Advisors LLC increased its stake in shares of PRA Group by 9.4% in the third quarter. BlackRock Advisors LLC now owns 24,364 shares of the business services provider’s stock valued at $842,000 after buying an additional 2,097 shares during the period. BlackRock Inc. boosted its position in shares of PRA Group by 3.4% in the third quarter. BlackRock Inc. now owns 11,893 shares of the business services provider’s stock worth $410,000 after buying an additional 386 shares in the last quarter. BlackRock Group LTD boosted its position in shares of PRA Group by 6.4% in the third quarter. BlackRock Group LTD now owns 66,068 shares of the business services provider’s stock worth $2,282,000 after buying an additional 3,992 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its position in shares of PRA Group by 1.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,193,976 shares of the business services provider’s stock worth $41,240,000 after buying an additional 19,399 shares in the last quarter.
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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