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

StockNews.com upgraded shares of PRA Group (NASDAQ:PRAAFree Report) from a hold rating to a buy rating in a research report released on Friday.

Separately, JMP Securities reissued a market outperform rating and issued a $33.00 target price on shares of PRA Group in a research report on Tuesday, May 7th.

Get Our Latest Report on PRAA

PRA Group Price Performance

PRAA stock traded up $0.03 during mid-day trading on Friday, hitting $21.74. 179,593 shares of the stock were exchanged, compared to its average volume of 194,740. PRA Group has a 12 month low of $11.85 and a 12 month high of $31.43. The business has a fifty day moving average price of $24.64 and a 200 day moving average price of $23.43. The stock has a market capitalization of $855.47 million, a price-to-earnings ratio of -40.26 and a beta of 1.47.

PRA Group (NASDAQ:PRAAGet Free Report) last posted its quarterly earnings data on Monday, May 6th. The business services provider reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.24. PRA Group had a negative net margin of 2.37% and a negative return on equity of 1.76%. The company had revenue of $255.59 million during the quarter, compared to analyst estimates of $233.37 million. During the same period in the previous year, the firm earned ($1.50) earnings per share. PRA Group’s quarterly revenue was up 64.4% compared to the same quarter last year. As a group, equities analysts forecast that PRA Group will post 0.7 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Vikram A. Atal sold 5,830 shares of the stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $24.39, for a total transaction of $142,193.70. Following the transaction, the chief executive officer now owns 155,625 shares in the company, valued at $3,795,693.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Quadrature Capital Ltd lifted its position in shares of PRA Group by 10.7% during the 1st quarter. Quadrature Capital Ltd now owns 19,167 shares of the business services provider’s stock worth $500,000 after buying an additional 1,846 shares during the last quarter. UniSuper Management Pty Ltd acquired a new stake in PRA Group during the first quarter worth approximately $736,000. Blair William & Co. IL raised its stake in PRA Group by 3.4% during the first quarter. Blair William & Co. IL now owns 165,625 shares of the business services provider’s stock worth $4,320,000 after purchasing an additional 5,445 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of PRA Group by 389.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 53,977 shares of the business services provider’s stock valued at $1,408,000 after acquiring an additional 42,950 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in PRA Group by 0.3% during the 1st quarter. William Blair Investment Management LLC now owns 1,061,093 shares of the business services provider’s stock valued at $27,673,000 after purchasing an additional 2,864 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

About PRA Group

(Get Free Report)

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.

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