PRA Group (NASDAQ:PRAA) Cut to Hold at StockNews.com

PRA Group (NASDAQ:PRAA) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Separately, JMP Securities reiterated a “market outperform” rating and issued a $33.00 price objective on shares of PRA Group in a research note on Tuesday, May 7th.

PRA Group Trading Down 1.4 %

Shares of NASDAQ:PRAA traded down $0.36 on Thursday, hitting $25.06. 132,167 shares of the company were exchanged, compared to its average volume of 212,076. The firm has a market capitalization of $986.11 million, a P/E ratio of -46.41 and a beta of 1.47. PRA Group has a 1-year low of $11.85 and a 1-year high of $31.43. The stock’s 50 day moving average price is $24.83 and its 200 day moving average price is $23.03.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Monday, May 6th. The business services provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.24. PRA Group had a negative return on equity of 1.76% and a negative net margin of 2.37%. The company had revenue of $255.59 million during the quarter, compared to analysts’ expectations of $233.37 million. During the same quarter in the previous year, the firm posted ($1.50) EPS. The firm’s revenue was up 64.4% compared to the same quarter last year. On average, equities analysts predict that PRA Group will post 0.7 EPS for the current fiscal year.

Insider Activity at PRA Group

In other news, CEO Vikram A. Atal sold 5,830 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $24.39, for a total value of $142,193.70. Following the transaction, the chief executive officer now owns 155,625 shares in the company, valued at $3,795,693.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is owned by company insiders.

Institutional Trading of PRA Group

A number of hedge funds have recently bought and sold shares of PRAA. CWM LLC grew its holdings in shares of PRA Group by 90.5% in the fourth quarter. CWM LLC now owns 1,189 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 565 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of PRA Group by 1,032.9% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,512 shares of the business services provider’s stock worth $67,000 after buying an additional 3,202 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of PRA Group during the 1st quarter worth approximately $103,000. ProShare Advisors LLC purchased a new stake in shares of PRA Group during the 1st quarter valued at approximately $203,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in PRA Group by 40.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,447 shares of the business services provider’s stock valued at $181,000 after acquiring an additional 2,722 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

PRA Group Company Profile

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.