PRA Group (NASDAQ:PRAA) Stock Rating Lowered by Zacks Research

Key Points

• Zacks Research downgraded PRA Group from “strong buy” to “hold,” contributing to a consensus “hold” rating and an average price target of $26.00.
• PRAA opened at $20.28, with a market capitalization of approximately $763.5 million and a 52-week trading range of $10.25 to $22.55.
• The company exceeded quarterly expectations, reporting $1.51 in earnings per share versus the $0.52 consensus estimate and revenue of $372.17 million versus $299.99 million expected.

PRA Group (NASDAQ:PRAA - Get Free Report) was downgraded by research analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a research note issued on Tuesday, Zacks reports.

PRAA has been the topic of a number of other reports. Weiss Ratings reiterated a "sell (d)" rating on shares of PRA Group in a research note on Monday, September 21st. Wall Street Zen raised PRA Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 26th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $26.00.

PRA Group Stock Performance

PRAA opened at $20.28 on Tuesday. The firm has a market cap of $763.54 million, a P/E ratio of -3.01 and a beta of 1.13. The business has a 50 day moving average price of $19.32 and a 200 day moving average price of $18.22. PRA Group has a twelve month low of $10.25 and a twelve month high of $22.55.

PRA Group (NASDAQ:PRAA - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.51 EPS for the quarter, beating the consensus estimate of $0.52 by $0.99. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%.The company had revenue of $372.17 million for the quarter, compared to the consensus estimate of $299.99 million. As a group, analysts anticipate that PRA Group will post 3.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PRA Group

Several large investors have recently added to or reduced their stakes in the company. WINTON GROUP Ltd acquired a new position in shares of PRA Group in the second quarter valued at $281,000. Squarepoint Ops LLC boosted its stake in PRA Group by 68.1% during the second quarter. Squarepoint Ops LLC now owns 99,824 shares of the business services provider's stock worth $1,896,000 after buying an additional 40,439 shares in the last quarter. AXQ Capital LP acquired a new stake in PRA Group during the second quarter worth $263,000. Headlands Technologies LLC increased its holdings in PRA Group by 34.0% in the 2nd quarter. Headlands Technologies LLC now owns 16,490 shares of the business services provider's stock valued at $313,000 after buying an additional 4,185 shares during the period. Finally, Susquehanna International Group LLP increased its holdings in PRA Group by 288.0% in the 2nd 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 during the period. 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.

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