PRA Group, Inc. (NASDAQ:PRAA) Receives $26.00 Average Price Target from Brokerages

Shares of PRA Group, Inc. (NASDAQ:PRAA) have been given an average recommendation of “Hold” by the five analysts that are currently covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, two have given a hold rating, one has issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $26.00.

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of PRA Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, September 5th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a research note on Wednesday, June 24th. Finally, Zacks Research raised shares of PRA Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new stake in shares of PRA Group in the second quarter worth $84,183,000. Topline Capital Management LLC grew its position in PRA Group by 168.3% during the second quarter. Topline Capital Management LLC now owns 2,250,629 shares of the business services provider’s stock worth $33,197,000 after buying an additional 1,411,707 shares in the last quarter. State Street Corp grew its position in PRA Group by 0.3% during the fourth quarter. State Street Corp now owns 1,499,488 shares of the business services provider’s stock worth $26,526,000 after buying an additional 4,895 shares in the last quarter. Wellington Management Group LLP grew its position 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 in the last quarter. Finally, Invesco Ltd. increased its stake in PRA Group by 15.5% in the 2nd quarter. Invesco Ltd. now owns 819,742 shares of the business services provider’s stock worth $12,091,000 after acquiring an additional 109,857 shares during the last quarter. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

PRA Group Stock Performance

NASDAQ:PRAA opened at $18.77 on Friday. PRA Group has a 52-week low of $10.25 and a 52-week high of $22.55. The firm has a market cap of $706.69 million, a price-to-earnings ratio of -2.79 and a beta of 1.11. The business’s fifty day moving average is $18.53 and its 200 day moving average is $17.72.

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

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.