PRA Group (NASDAQ:PRAA) Stock Bumped Down to "Strong Sell" by Zacks Research

Key Points

• Zacks Research downgraded PRA Group from “hold” to “strong sell”; MarketBeat’s consensus rating is “Reduce,” with two analysts at Hold and two at Sell.
• PRA Group’s latest quarterly results fell short of expectations: EPS was $0.39 versus $0.80 forecast, and revenue was $286.27 million versus $307.40 million expected.
• The stock opened at $11.96, below its 50-day moving average of $19.28, and is closer to its 52-week low of $10.25 than its high of $22.55.

PRA Group (NASDAQ:PRAA - Get Free Report) was downgraded by investment analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a report issued on Monday, Zacks reports.

A number of other equities research analysts have also weighed in on PRAA. Weiss Ratings lowered PRA Group from a "sell (d+)" rating to a "sell (d)" rating in a research note on Monday. Wall Street Zen lowered PRA Group from a "strong-buy" rating to a "buy" rating in a research report on Sunday, November 1st. Two equities research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Reduce".

PRA Group Price Performance

NASDAQ:PRAA opened at $11.96 on Monday. The firm has a 50-day moving average of $19.28 and a two-hundred day moving average of $17.54. The stock has a market cap of $450.29 million, a P/E ratio of 2.92 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 announced its 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 return on equity of 14.48% and a net margin of 12.06%. The business had revenue of $286.27 million for the quarter, compared to analysts' expectations of $307.40 million. As a group, equities analysts expect that PRA Group will post 3.29 earnings per share for the current year.

Institutional Investors Weigh In On PRA Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Management Professionals Inc. bought a new position in shares of PRA Group during the third quarter worth about $30,000. Meeder Asset Management Inc. bought a new stake in PRA Group in the second quarter valued at about $49,000. EverSource Wealth Advisors LLC increased its holdings in PRA Group by 49.6% in the first quarter. EverSource Wealth Advisors LLC now owns 3,711 shares of the business services provider's stock valued at $65,000 after buying an additional 1,230 shares during the last quarter. Fifth Third Bancorp increased its holdings in PRA Group by 7,735.7% in the first quarter. Fifth Third Bancorp now owns 9,011 shares of the business services provider's stock valued at $158,000 after buying an additional 8,896 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new stake in PRA Group during the second quarter valued at approximately $192,000. Institutional investors own 97.22% of the company's stock.

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.

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