PRA Group, Inc. (NASDAQ:PRAA) Stock Has Average Price Target of $26.00

Key Points

• Analysts have a consensus “Hold” rating on PRA Group, with three holds, one sell and one buy; the average 12-month price target is $26.00 versus a recent price of $19.08.
• PRA Group reported quarterly EPS of $1.51, substantially exceeding the $0.52 consensus estimate, while revenue of $372.17 million also surpassed expectations.
• Institutional investors own approximately 97.22% of PRAA, with firms including BlackRock, Assenagon Asset Management and Susquehanna increasing or initiating positions.

Shares of PRA Group, Inc. (NASDAQ:PRAA - Get Free Report) have been assigned an average recommendation of "Hold" from the five ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and one has issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $26.00.

PRAA has been the topic of several research reports. Zacks Research downgraded shares of PRA Group from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, October 6th. Wall Street Zen downgraded PRA Group from a "strong-buy" rating to a "buy" rating in a research report on Saturday. Finally, Weiss Ratings raised PRA Group from a "sell (d)" rating to a "sell (d+)" rating in a research report on Thursday, October 8th.

PRA Group Stock Performance

PRAA opened at $19.08 on Friday. PRA Group has a one year low of $10.25 and a one year high of $22.55. The stock has a market capitalization of $718.36 million, a PE ratio of -2.84 and a beta of 1.13. The business's 50 day moving average price is $19.64 and its 200 day moving average price is $18.41.

PRA Group (NASDAQ:PRAA - Get Free Report) last posted 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. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%. The firm had revenue of $372.17 million for the quarter, compared to analyst estimates of $299.99 million. As a group, equities research analysts forecast that PRA Group will post 3.93 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PRA Group

Several institutional investors have recently made changes to their positions in PRAA. BlackRock Inc. acquired a new stake in shares of PRA Group in the 2nd quarter worth approximately $84,183,000. Assenagon Asset Management S.A. increased its stake in shares of PRA Group by 401.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider's stock valued at $11,421,000 after buying an additional 481,538 shares during the period. Bank of America Corp DE bought a new position in PRA Group during the 2nd quarter worth approximately $3,112,000. Susquehanna International Group LLP boosted its holdings in PRA Group by 288.0% during the second quarter. Susquehanna International Group LLP now owns 200,848 shares of the business services provider's stock worth $3,814,000 after purchasing an additional 149,078 shares during the last quarter. Finally, Bank of New York Mellon Corp acquired a new position in PRA Group during the second quarter worth approximately $2,404,000. 97.22% of the stock is owned by institutional investors.

About PRA Group

PRA Group, Inc is a global financial services company that purchases and manages portfolios of defaulted consumer accounts. The company works with individuals to help resolve outstanding obligations and provides account management, customer service and debt recovery solutions for acquired portfolios.

The company serves consumers and financial institutions across North America, Europe and Australia. Its activities include acquiring nonperforming consumer debt from banks, credit card companies and other financial institutions, as well as servicing portfolios on behalf of third parties in selected markets.

PRA Group was founded in 1996 and is headquartered in Norfolk, Virginia.

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