PRA Group (NASDAQ:PRAA) Stock Rating Cut to Hold at Zacks Research

Zacks Research downgraded shares of PRA Group (NASDAQ:PRAA) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks reports.

PRAA has been the subject of a number of other research reports. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a report on Monday, September 21st. Wall Street Zen upgraded shares of PRA Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.00.

PRA Group Trading Up 1.2%

Shares of PRAA opened at $20.28 on Tuesday. PRA Group has a 1 year low of $10.25 and a 1 year high of $22.55. The stock has a market cap of $763.54 million, a P/E ratio of -3.01 and a beta of 1.13. The stock’s 50-day moving average price is $19.32 and its two-hundred day moving average price is $18.22.

PRA Group (NASDAQ:PRAA) last posted its earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.99. The company had revenue of $372.17 million during 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%. As a group, equities analysts forecast that PRA Group will post 3.93 EPS for the current year.

Institutional Investors Weigh In On PRA Group

A number of hedge funds have recently modified their holdings of PRAA. BlackRock Inc. acquired a new position in shares of PRA Group in the 2nd quarter valued at approximately $84,183,000. Wellington Management Group LLP raised its holdings in PRA Group by 10.3% during the 2nd quarter. Wellington Management Group LLP now owns 827,720 shares of the business services provider’s stock worth $15,718,000 after buying an additional 77,188 shares during the period. Assenagon Asset Management S.A. raised its holdings in PRA Group by 401.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock worth $11,421,000 after buying an additional 481,538 shares during the period. Invenomic Capital Management LP lifted its stake in PRA Group by 2.9% in the fourth quarter. Invenomic Capital Management LP now owns 427,376 shares of the business services provider’s stock valued at $7,560,000 after buying an additional 11,895 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its stake 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 valued at $3,814,000 after buying an additional 149,078 shares in the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

PRA Group Company Profile

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.