PRA Group (NASDAQ:PRAA) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded PRA Group from “buy” to “strong buy,” while Zacks Research also issued a “strong buy” upgrade. However, the broader analyst consensus remains “hold,” with a $26 price target.
• PRA Group reported quarterly EPS of $1.51, substantially exceeding the $0.52 consensus estimate, while revenue reached $372.17 million versus expectations of $299.99 million.
• PRAA shares opened at $20.65, near their 52-week high of $22.55, and institutional investors and hedge funds own approximately 97.22% of the stock.

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

A number of other equities analysts also recently issued reports on the stock. Zacks Research upgraded shares of PRA Group from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 10th. Weiss Ratings reissued a "sell (d)" rating on shares of PRA Group in a research note on Monday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $26.00.

PRA Group Price Performance

PRAA stock opened at $20.65 on Friday. PRA Group has a 1-year low of $10.25 and a 1-year high of $22.55. The business has a 50-day moving average price of $18.96 and a 200 day moving average price of $18.10. The company has a market capitalization of $777.47 million, a P/E ratio of -3.07 and a beta of 1.11.

PRA Group (NASDAQ:PRAA - Get Free Report) last issued 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 for the quarter, compared to analysts' expectations of $299.99 million. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. On average, analysts anticipate that PRA Group will post 3.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PRA Group

Large investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC raised its position in shares of PRA Group by 145.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider's stock valued at $44,000 after purchasing an additional 1,471 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in PRA Group during the 2nd quarter worth approximately $49,000. Fifth Third Bancorp grew its position in PRA Group by 7,735.7% during the 1st quarter. Fifth Third Bancorp now owns 9,011 shares of the business services provider's stock worth $158,000 after purchasing an additional 8,896 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in shares of PRA Group in the second quarter worth $192,000. Finally, Globeflex Capital L P purchased a new position in shares of PRA Group in the second quarter worth $208,000. 97.22% of the stock is owned by institutional investors and hedge funds.

About PRA Group

PRA Group, Inc is a global financial services company that purchases portfolios of accounts receivable from banks, credit unions, consumer finance companies and other creditors. These portfolios generally consist of nonperforming or distressed consumer accounts, including unpaid credit card balances, personal loans and other forms of unsecured debt.

After acquiring receivables, PRA Group works directly with consumers to establish repayment arrangements and resolve outstanding obligations.

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.