PRA Group (NASDAQ:PRAA) Releases Earnings Results, Beats Estimates By $0.96 EPS

PRA Group (NASDAQ:PRAA) released its quarterly earnings results on Thursday. The business services provider reported $1.46 EPS for the quarter, topping the consensus estimate of $0.50 by $0.96, FiscalAI reports. The company had revenue of $333.39 million during the quarter, compared to analyst estimates of $288.86 million. PRA Group had a positive return on equity of 7.03% and a negative net margin of 29.55%.

PRA Group Stock Up 8.3%

PRAA traded up $0.97 on Thursday, hitting $12.67. The company had a trading volume of 839,392 shares, compared to its average volume of 469,302. The business’s fifty day simple moving average is $14.67 and its 200 day simple moving average is $15.41. PRA Group has a 12-month low of $10.25 and a 12-month high of $22.17. The company has a market cap of $494.32 million, a PE ratio of -1.44 and a beta of 1.29.

Analysts Set New Price Targets

Several research analysts recently weighed in on PRAA shares. Citizens Jmp downgraded PRA Group from a “market outperform” rating to a “market perform” rating in a research note on Wednesday, January 28th. Citigroup cut PRA Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of PRA Group in a report on Monday, December 29th. Zacks Research lowered PRA Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Truist Financial lowered their target price on shares of PRA Group from $33.00 to $26.00 and set a “buy” rating for the company in a research note on Tuesday, November 4th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, PRA Group currently has a consensus rating of “Hold” and an average price target of $25.00.

Institutional Investors Weigh In On PRA Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in PRA Group by 13.7% during the fourth quarter. Wellington Management Group LLP now owns 1,296,830 shares of the business services provider’s stock worth $22,941,000 after buying an additional 156,520 shares during the period. Tudor Investment Corp ET AL raised its position in shares of PRA Group by 427.1% in the 4th quarter. Tudor Investment Corp ET AL now owns 81,468 shares of the business services provider’s stock worth $1,441,000 after acquiring an additional 66,011 shares in the last quarter. Millennium Management LLC lifted its stake in shares of PRA Group by 242.6% during the 4th quarter. Millennium Management LLC now owns 464,320 shares of the business services provider’s stock worth $8,214,000 after purchasing an additional 328,804 shares during the last quarter. Engineers Gate Manager LP lifted its stake in shares of PRA Group by 57.9% during the 4th quarter. Engineers Gate Manager LP now owns 65,320 shares of the business services provider’s stock worth $1,156,000 after purchasing an additional 23,943 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its position in PRA Group by 133.4% during the fourth quarter. Balyasny Asset Management L.P. now owns 25,938 shares of the business services provider’s stock valued at $459,000 after purchasing an additional 14,826 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

PRA Group Company Profile

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.