PRA Group (NASDAQ:PRAA) Trading Down 5.5% – Here’s What Happened

PRA Group, Inc. (NASDAQ:PRAA) fell 5.5% during trading on Monday . The stock traded as low as $19.98 and last traded at $20.12. 95,313 shares traded hands during mid-day trading, a decline of 52% from the average session volume of 199,088 shares. The stock had previously closed at $21.30.

Analyst Ratings Changes

Several research firms have commented on PRAA. Truist Financial cut their target price on PRA Group from $42.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th.

PRA Group Trading Down 0.3 %

The stock has a market cap of $766.97 million, a P/E ratio of -36.09 and a beta of 1.49. The company has a 50 day simple moving average of $21.85 and a 200 day simple moving average of $22.33.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Monday, August 5th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.46. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The company had revenue of $284.20 million for the quarter, compared to analysts’ expectations of $245.04 million. During the same quarter in the prior year, the business posted ($0.10) EPS. The business’s revenue was up 35.9% compared to the same quarter last year. As a group, sell-side analysts expect that PRA Group, Inc. will post 1.33 earnings per share for the current year.

Insider Transactions at PRA Group

In related news, Director Geir Olsen acquired 11,750 shares of the company’s stock in a transaction dated Wednesday, August 7th. The shares were bought at an average price of $21.39 per share, for a total transaction of $251,332.50. Following the purchase, the director now directly owns 11,750 shares in the company, valued at approximately $251,332.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PRAA. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PRA Group during the 2nd quarter worth approximately $29,000. nVerses Capital LLC increased its holdings in shares of 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 acquiring an additional 1,400 shares during the last quarter. Innealta Capital LLC acquired a new position in shares of PRA Group during the 2nd quarter worth approximately $57,000. PNC Financial Services Group Inc. increased its holdings in shares of PRA Group by 11.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock worth $103,000 after acquiring an additional 419 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of PRA Group during the 1st quarter worth approximately $103,000. 97.22% of the stock is owned by institutional investors and hedge funds.

PRA Group Company Profile

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.