JMP Securities Has Lowered Expectations for PRA Group (NASDAQ:PRAA) Stock Price

PRA Group (NASDAQ:PRAA - Get Free Report) had its price target lowered by research analysts at JMP Securities from $30.00 to $23.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "market outperform" rating on the business services provider's stock. JMP Securities' price target would indicate a potential upside of 77.74% from the company's current price.

PRA Group Stock Down 32.6 %

Shares of PRA Group stock traded down $6.26 on Tuesday, hitting $12.94. 945,355 shares of the company's stock traded hands, compared to its average volume of 302,173. The firm's 50-day moving average is $18.99 and its 200 day moving average is $20.66. The stock has a market cap of $513.19 million, a P/E ratio of 7.28 and a beta of 1.70. PRA Group has a 52-week low of $13.03 and a 52-week high of $28.64.

PRA Group (NASDAQ:PRAA - Get Free Report) last released its earnings results on Monday, May 5th. The business services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.32). PRA Group had a return on equity of 5.16% and a net margin of 6.33%. The company had revenue of $269.62 million during the quarter, compared to the consensus estimate of $288.63 million. During the same period in the previous year, the firm posted $0.09 EPS. PRA Group's revenue for the quarter was up 5.5% on a year-over-year basis. Equities research analysts forecast that PRA Group will post 2.1 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in PRAA. Janney Montgomery Scott LLC bought a new position in PRA Group during the fourth quarter worth $753,000. Barclays PLC grew its position in shares of PRA Group by 55.0% during the 3rd quarter. Barclays PLC now owns 117,053 shares of the business services provider's stock valued at $2,618,000 after buying an additional 41,525 shares during the last quarter. JPMorgan Chase & Co. raised its stake in PRA Group by 40.2% during the third quarter. JPMorgan Chase & Co. now owns 74,937 shares of the business services provider's stock worth $1,676,000 after acquiring an additional 21,476 shares during the period. Global Alpha Capital Management Ltd. lifted its holdings in PRA Group by 4.3% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,896,000 shares of the business services provider's stock worth $39,607,000 after acquiring an additional 78,200 shares during the last quarter. Finally, Capital Management Corp VA acquired a new position in PRA Group in the fourth quarter valued at approximately $4,659,000. Institutional investors and hedge funds own 97.22% of the company's stock.

About PRA Group

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.

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