PRA Group (NASDAQ:PRAA) Stock Rating Cut to “Buy” at Wall Street Zen

Wall Street Zen cut shares of PRA Group (NASDAQ:PRAA) from a strong-buy rating to a buy rating in a research note published on Saturday morning,Wall Street Zen reports.

A number of other research firms have also recently commented on PRAA. Weiss Ratings upgraded PRA Group from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, October 8th. Zacks Research downgraded PRA Group from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, PRA Group has an average rating of “Hold” and an average price target of $26.00.

PRA Group Stock Performance

NASDAQ:PRAA opened at $19.08 on Friday. The stock has a 50-day simple moving average of $19.64 and a 200-day simple moving average of $18.41. The stock has a market cap of $718.36 million, a P/E ratio of -2.84 and a beta of 1.13. PRA Group has a 1 year low of $10.25 and a 1 year high of $22.55.

PRA Group (NASDAQ:PRAA) last issued its earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.99. The business had revenue of $372.17 million for the quarter, compared to analyst estimates of $299.99 million. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%. On average, equities research analysts predict that PRA Group will post 3.93 EPS for the current year.

Institutional Trading of PRA Group

Hedge funds have recently added to or reduced their stakes in the stock. Financial Management Professionals Inc. acquired a new position in shares of PRA Group during the 3rd quarter worth approximately $30,000. Simplicity Wealth LLC purchased a new stake in PRA Group in the 3rd quarter valued at approximately $264,000. Sterling Capital Management LLC grew its holdings in PRA Group by 1,828.3% during the 3rd quarter. Sterling Capital Management LLC now owns 14,906 shares of the business services provider’s stock valued at $291,000 after buying an additional 14,133 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in PRA Group by 26.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 20,090 shares of the business services provider’s stock valued at $392,000 after buying an additional 4,248 shares during the last quarter. Finally, Sanders Morris Harris LLC acquired a new stake in PRA Group during the 3rd quarter valued at $262,000. 97.22% of the stock is owned by institutional investors and hedge funds.

PRA Group Company Profile

PRA Group, Inc is a global financial services company that purchases and manages portfolios of defaulted consumer accounts. The company works with individuals to help resolve outstanding obligations and provides account management, customer service and debt recovery solutions for acquired portfolios.

The company serves consumers and financial institutions across North America, Europe and Australia. Its activities include acquiring nonperforming consumer debt from banks, credit card companies and other financial institutions, as well as servicing portfolios on behalf of third parties in selected markets.

PRA Group was founded in 1996 and is headquartered in Norfolk, Virginia.