PRA Group, Inc. (NASDAQ:PRAA) Short Interest Down 47.8% in September

Key Points

• PRA Group, Inc. experienced a significant decline in short interest, dropping 47.8% to 599,800 shares as of September 30th, indicating decreased bearish sentiment among investors.
• The company's stock is currently trading at $13.53, below its fifty-day moving average of $15.96 and around its twelve-month low of $12.91.
• Analysts have a Moderate Buy average rating for PRA Group, with a consensus price target of $27.50, suggesting potential upside from its current share price.

PRA Group, Inc. (NASDAQ:PRAA - Get Free Report) was the target of a significant drop in short interest in the month of September. As of September 30th, there was short interest totaling 599,800 shares, a drop of 47.8% from the September 15th total of 1,150,000 shares. Based on an average daily volume of 297,300 shares, the days-to-cover ratio is presently 2.0 days. Approximately 1.6% of the company's stock are sold short. Approximately 1.6% of the company's stock are sold short. Based on an average daily volume of 297,300 shares, the days-to-cover ratio is presently 2.0 days.

PRA Group Trading Up 1.5%

Shares of PRAA opened at $13.53 on Monday. The firm's fifty day simple moving average is $15.96 and its 200-day simple moving average is $15.77. The firm has a market capitalization of $528.62 million, a price-to-earnings ratio of 5.81 and a beta of 1.45. PRA Group has a twelve month low of $12.91 and a twelve month high of $25.43.

PRA Group (NASDAQ:PRAA - Get Free Report) last posted its earnings results on Monday, August 4th. The business services provider reported $1.08 EPS for the quarter, beating the consensus estimate of $0.62 by $0.46. The firm had revenue of $287.69 million for the quarter, compared to analyst estimates of $279.34 million. PRA Group had a return on equity of 6.52% and a net margin of 8.10%. On average, analysts predict that PRA Group will post 2.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

PRAA has been the topic of a number of research reports. Wall Street Zen upgraded shares of PRA Group from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. JMP Securities set a $24.00 price objective on PRA Group and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Citigroup reiterated an "outperform" rating on shares of PRA Group in a report on Tuesday, August 5th. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of PRA Group in a report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, PRA Group presently has an average rating of "Moderate Buy" and a consensus price target of $27.50.

Institutional Investors Weigh In On PRA Group

Several institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC increased its stake in PRA Group by 301.0% in the third quarter. GAMMA Investing LLC now owns 1,684 shares of the business services provider's stock valued at $26,000 after purchasing an additional 1,264 shares during the last quarter. CWM LLC boosted its holdings in shares of PRA Group by 140.0% in the 3rd quarter. CWM LLC now owns 4,618 shares of the business services provider's stock valued at $71,000 after buying an additional 2,694 shares in the last quarter. Tower Research Capital LLC TRC grew its position in shares of PRA Group by 375.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider's stock valued at $71,000 after buying an additional 3,777 shares during the last quarter. Advent Capital Management DE acquired a new stake in PRA Group during the 2nd quarter worth $84,000. Finally, Globeflex Capital L P purchased a new stake in PRA Group in the second quarter valued at $102,000. Hedge funds and other institutional investors own 97.22% of the company's stock.

PRA Group Company Profile

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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