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

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

Separately, Truist Financial dropped their price objective on shares of PRA Group from $42.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th.

PRA Group Stock Performance

Shares of NASDAQ PRAA opened at $21.30 on Wednesday. The firm’s 50 day moving average price is $21.97 and its 200-day moving average price is $22.45. PRA Group has a 52-week low of $11.85 and a 52-week high of $31.43. The company has a market cap of $838.20 million, a PE ratio of -39.44 and a beta of 1.49.

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

Insider Buying and Selling at PRA Group

In related news, Director Geir Olsen acquired 11,750 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $21.39 per share, with a total value of $251,332.50. Following the completion of the purchase, the director now directly owns 11,750 shares of the company’s stock, valued at $251,332.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. nVerses Capital LLC lifted its holdings in PRA Group by 168.8% in the 3rd quarter. nVerses Capital LLC now owns 4,300 shares of the business services provider’s stock worth $96,000 after purchasing an additional 2,700 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of PRA Group by 101.8% in the third quarter. SG Americas Securities LLC now owns 22,754 shares of the business services provider’s stock worth $509,000 after buying an additional 11,481 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PRA Group during the second quarter worth $29,000. The Manufacturers Life Insurance Company grew its stake in PRA Group by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 14,929 shares of the business services provider’s stock valued at $294,000 after acquiring an additional 712 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in PRA Group in the 2nd quarter valued at $216,000. Hedge funds and other institutional investors 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.