PRA Group (NASDAQ:PRAA) Shares Gap Down – What’s Next?

PRA Group, Inc. (NASDAQ:PRAA) gapped down before the market opened on Wednesday . The stock had previously closed at $22.32, but opened at $21.81. PRA Group shares last traded at $21.33, with a volume of 32,001 shares.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Truist Financial raised their target price on PRA Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th.

PRA Group Price Performance

The firm has a 50 day simple moving average of $21.64 and a 200-day simple moving average of $21.97. The stock has a market capitalization of $826.85 million, a price-to-earnings ratio of 20.29 and a beta of 1.50.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Monday, November 4th. The business services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.37. The company had revenue of $281.48 million during the quarter, compared to analyst estimates of $262.20 million. PRA Group had a net margin of 4.16% and a return on equity of 2.90%. The company’s revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.31) earnings per share. On average, sell-side analysts forecast that PRA Group, Inc. will post 1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in PRAA. Point72 Asia Singapore Pte. Ltd. bought a new stake in PRA Group in the second quarter valued at about $29,000. Quarry LP grew its holdings in shares of PRA Group by 282.6% in the 3rd quarter. Quarry LP now owns 1,316 shares of the business services provider’s stock valued at $29,000 after buying an additional 972 shares during the period. nVerses Capital LLC raised its stake in PRA Group by 700.0% during the 2nd quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock worth $31,000 after buying an additional 1,400 shares during the period. FMR LLC lifted its holdings in PRA Group by 55.0% during the third quarter. FMR LLC now owns 1,707 shares of the business services provider’s stock worth $38,000 after acquiring an additional 606 shares in the last quarter. Finally, Point72 DIFC Ltd grew its stake in PRA Group by 388.6% in the third quarter. Point72 DIFC Ltd now owns 2,150 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,710 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.

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.