Janney Montgomery Scott upgraded shares of PRA Group, Inc. (NASDAQ:PRAA) from a sell rating to a neutral rating in a research report report published on Thursday, Marketbeat reports.
A number of other research analysts have also recently weighed in on PRAA. BidaskClub upgraded shares of PRA Group from a hold rating to a buy rating in a research note on Thursday, August 10th. Zacks Investment Research cut shares of PRA Group from a hold rating to a sell rating in a research note on Thursday, July 13th. Keefe, Bruyette & Woods cut shares of PRA Group from an outperform rating to a market perform rating and lifted their target price for the company from $36.00 to $40.00 in a research note on Tuesday, October 10th. Citigroup Inc. cut shares of PRA Group to an underperform rating in a research note on Thursday, September 21st. Finally, Raymond James Financial, Inc. restated 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 three have assigned a hold rating to the company. The stock currently has a consensus rating of Hold and an average target price of $40.00.
PRA Group (NASDAQ PRAA) traded down $0.75 on Thursday, hitting $33.55. 746,700 shares of the company were exchanged, compared to its average volume of 497,420. PRA Group has a 52 week low of $25.72 and a 52 week high of $42.70. The stock has a market cap of $1,515.42, a PE ratio of 52.42 and a beta of 1.51.
PRA Group (NASDAQ:PRAA) last released its earnings results on Wednesday, November 8th. The business services provider reported $0.34 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). PRA Group had a net margin of 7.57% and a return on equity of 2.98%. The firm had revenue of $201.00 million for the quarter, compared to analysts’ expectations of $196.96 million. During the same quarter last year, the firm posted $0.68 EPS. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. equities research analysts predict that PRA Group will post 1.38 EPS for the current fiscal year.
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A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Wells Fargo & Company MN increased its holdings in PRA Group by 11.4% in the 3rd quarter. Wells Fargo & Company MN now owns 134,579 shares of the business services provider’s stock valued at $3,855,000 after acquiring an additional 13,745 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in PRA Group by 31.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 52,714 shares of the business services provider’s stock valued at $1,537,000 after acquiring an additional 12,501 shares during the last quarter. Eagle Asset Management Inc. increased its holdings in PRA Group by 4.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 138,003 shares of the business services provider’s stock valued at $3,995,000 after acquiring an additional 5,916 shares during the last quarter. Torray LLC bought a new stake in PRA Group in the 3rd quarter valued at $491,000. Finally, TD Asset Management Inc. bought a new stake in PRA Group in the 3rd quarter valued at $923,000.
About PRA Group
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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