PRA Group (NASDAQ:PRAA) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of PRA Group (NASDAQ:PRAA) from a hold rating to a buy rating in a research report released on Tuesday morning.

Separately, Truist Financial reduced their price objective on shares of PRA Group from $42.00 to $28.00 and set a buy rating for the company in a research report on Tuesday, August 20th.

PRA Group Trading Up 3.2 %

Shares of PRAA stock opened at $23.00 on Tuesday. The company has a market cap of $906.66 million, a P/E ratio of -41.26 and a beta of 1.49. The firm has a fifty day moving average price of $22.65 and a 200 day moving average price of $22.89. PRA Group has a 12 month low of $11.85 and a 12 month high of $31.43.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings data on Monday, August 5th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.46. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The business had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $245.04 million. During the same period in the prior year, the firm posted ($0.10) EPS. The business’s quarterly revenue was up 35.9% compared to the same quarter last year. On average, equities analysts forecast that PRA Group will post 1.33 EPS for the current year.

Insider Activity at PRA Group

In other news, Director Geir Olsen purchased 11,750 shares of the business’s stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $21.39 per share, with a total value of $251,332.50. Following the completion of the transaction, the director now directly owns 11,750 shares in the company, valued at approximately $251,332.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its holdings in shares of PRA Group by 13.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 666,396 shares of the business services provider’s stock worth $17,460,000 after buying an additional 77,819 shares during the last quarter. Global Alpha Capital Management Ltd. increased its holdings in shares of PRA Group by 5.4% in the first quarter. Global Alpha Capital Management Ltd. now owns 1,708,015 shares of the business services provider’s stock valued at $44,545,000 after purchasing an additional 86,800 shares during the period. Redwood Investment Management LLC purchased a new stake in shares of PRA Group during the fourth quarter worth approximately $3,268,000. State Board of Administration of Florida Retirement System lifted its holdings in shares of PRA Group by 389.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 53,977 shares of the business services provider’s stock worth $1,408,000 after purchasing an additional 42,950 shares during the period. Finally, ClariVest Asset Management LLC purchased a new position in PRA Group in the 2nd quarter valued at $1,343,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

About PRA Group

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.