PRA Group (NASDAQ:PRAA) Stock Bumped Down to Hold by Wall Street Zen

Key Points

• Wall Street Zen downgraded PRA Group from “buy” to “hold.” Other recent rating cuts leave the stock with a MarketBeat consensus rating of “Reduce,” based on two Hold and two Sell ratings.
• PRA Group’s latest quarter missed expectations, reporting $0.39 EPS versus $0.80 expected and revenue of $286.27 million versus forecasts of $307.40 million.
• Shares opened at $11.84, below the 50-day moving average of $18.89 and the 200-day average of $17.49; the stock’s one-year range is $10.25 to $22.55.

PRA Group (NASDAQ:PRAA - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

PRAA has been the subject of a number of other research reports. Weiss Ratings downgraded shares of PRA Group from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday. Zacks Research lowered shares of PRA Group from a "hold" rating to a "strong sell" rating in a report on Monday, November 9th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, PRA Group presently has an average rating of "Reduce".

PRA Group Price Performance

Shares of PRA Group stock opened at $11.84 on Friday. The company has a 50-day moving average of $18.89 and a 200 day moving average of $17.49. The firm has a market cap of $445.89 million, a price-to-earnings ratio of 2.89 and a beta of 1.15. PRA Group has a 1 year low of $10.25 and a 1 year high of $22.55.

PRA Group (NASDAQ:PRAA - Get Free Report) last issued its quarterly earnings results on Thursday, November 5th. The business services provider reported $0.39 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.41). PRA Group had a net margin of 12.06% and a return on equity of 14.48%. The business had revenue of $286.27 million for the quarter, compared to analysts' expectations of $307.40 million. On average, equities analysts anticipate that PRA Group will post 3.04 EPS for the current year.

Hedge Funds Weigh In On PRA Group

Several institutional investors and hedge funds have recently modified their holdings of the stock. Bleakley Financial Group LLC bought a new position in PRA Group in the 3rd quarter worth about $234,000. Ieq Capital LLC grew its position in PRA Group by 138.1% during the 3rd quarter. Ieq Capital LLC now owns 49,788 shares of the business services provider's stock valued at $970,000 after purchasing an additional 28,875 shares during the last quarter. Russell Investments Group Ltd. grew its position in PRA Group by 5.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 94,224 shares of the business services provider's stock valued at $1,836,000 after purchasing an additional 4,496 shares during the last quarter. Blueprint Investment Partners LLC purchased a new stake in PRA Group during the 3rd quarter valued at about $326,000. Finally, Blueprint Financial Advisors LLC bought a new stake in PRA Group during the 3rd quarter valued at about $326,000. 97.22% of the stock is currently owned by institutional investors.

About PRA Group

PRA Group, Inc. is a global financial services company that purchases and collects portfolios of unpaid and charged-off accounts. Its clients include banks, credit card companies and other lenders seeking to manage delinquent accounts and recover outstanding balances. The company's services include debt portfolio acquisition and account recovery, with collection approaches that may involve direct customer contact, negotiated repayment arrangements and legal processes, subject to applicable regulations.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.