PRA Group, Inc. (NASDAQ:PRAA) Stock Has Average Target Price of $26.00 According to Brokerages

Shares of PRA Group, Inc. (NASDAQ:PRAA) have earned an average rating of “Hold” from the five brokerages that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation, one has issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $26.00.

Several equities research analysts recently weighed in on the company. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a research report on Monday, September 21st. Wall Street Zen upgraded PRA Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Finally, Zacks Research raised PRA Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th.

PRA Group Price Performance

Shares of PRAA opened at $18.87 on Tuesday. PRA Group has a one year low of $10.25 and a one year high of $22.55. The company has a 50-day simple moving average of $19.20 and a two-hundred day simple moving average of $18.17. The firm has a market capitalization of $710.46 million, a PE ratio of -2.80 and a beta of 1.13.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.99. The business had revenue of $372.17 million for the quarter, compared to analysts’ expectations of $299.99 million. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%. Analysts expect that PRA Group will post 3.93 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PRAA. BlackRock Inc. purchased a new position in shares of PRA Group in the second quarter worth approximately $84,183,000. Assenagon Asset Management S.A. increased its holdings in PRA Group by 401.6% during the second quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock valued at $11,421,000 after buying an additional 481,538 shares during the last quarter. Bank of America Corp DE purchased a new stake in PRA Group during the second quarter valued at approximately $3,112,000. Susquehanna International Group LLP raised its position in PRA Group by 288.0% in the second quarter. Susquehanna International Group LLP now owns 200,848 shares of the business services provider’s stock worth $3,814,000 after acquiring an additional 149,078 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in PRA Group in the second quarter worth approximately $2,404,000. 97.22% of the stock is currently owned by institutional investors.

About PRA Group

PRA Group, Inc is a global financial services company that purchases portfolios of nonperforming consumer accounts from banks, credit unions and other lenders. The company works with consumers to resolve outstanding obligations through a range of repayment and account-management arrangements.

Its business includes the acquisition, servicing and collection of unpaid consumer loans and other receivables. PRA Group also provides related portfolio-management and consulting services, using data analysis and customer-focused communication to manage accounts throughout their recovery cycle.

Founded in 1996 and headquartered in Norfolk, Virginia, PRA Group serves consumers and financial institutions across North America, Europe and Australia.