PRA Group (NASDAQ:PRAA) Releases Earnings Results, Beats Estimates By $0.46 EPS

Key Points

• PRA Group reported a strong quarterly earnings result of $1.08 per share, significantly beating the consensus estimate of $0.45.
• The company's shares increased by $0.57 during trading, with a current stock price of $15.63, amidst a market cap of approximately $619.89 million.
• Recent analyst reports have varied, with JMP Securities reducing their price target on PRA Group from $30.00 to $23.00 and a downgrade by Wall Street Zen from a "hold" to a "sell" rating.

PRA Group (NASDAQ:PRAA - Get Free Report) posted its quarterly earnings results on Monday. The business services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.46, Zacks reports. PRA Group had a net margin of 6.27% and a return on equity of 5.09%. The company had revenue of $287.69 million for the quarter, compared to the consensus estimate of $279.34 million.

PRA Group Stock Up 3.8%

NASDAQ:PRAA opened at $15.63 on Tuesday. PRA Group has a 1-year low of $12.91 and a 1-year high of $26.89. The firm has a market capitalization of $619.89 million, a price-to-earnings ratio of 8.73 and a beta of 1.54. The stock has a fifty day simple moving average of $15.13 and a 200 day simple moving average of $17.84.

Insider Buying and Selling at PRA Group

In related news, Director Brett Lee Paschke purchased 5,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was acquired at an average price of $13.39 per share, for a total transaction of $66,950.00. Following the transaction, the director directly owned 30,056 shares of the company's stock, valued at $402,449.84. This trade represents a 19.96% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On PRA Group

An institutional investor recently raised its position in PRA Group stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,081 shares of the business services provider's stock after buying an additional 1,020 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of PRA Group worth $476,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 97.22% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. JMP Securities cut their target price on PRA Group from $30.00 to $23.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen cut PRA Group from a "hold" rating to a "sell" rating in a research note on Thursday, May 22nd.

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.