PRA Group (NASDAQ:PRAA) Issues Quarterly Earnings Results

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 data on Monday. The business services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.46, Zacks reports. The business had revenue of $287.69 million during the quarter, compared to the consensus estimate of $279.34 million. PRA Group had a net margin of 8.10% and a return on equity of 6.52%.

PRA Group Stock Down 1.9%

PRA Group stock traded down $0.30 during mid-day trading on Friday, reaching $15.37. The company had a trading volume of 97,579 shares, compared to its average volume of 393,669. The company has a 50 day moving average of $15.23 and a 200-day moving average of $17.77. The firm has a market cap of $609.36 million, a price-to-earnings ratio of 6.62 and a beta of 1.54. PRA Group has a 52 week low of $12.91 and a 52 week high of $25.43.

Hedge Funds Weigh In On PRA Group

A hedge fund recently raised its stake in PRA Group stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 4.6% in the first quarter, according to its most recent filing with the SEC. The firm owned 23,081 shares of the business services provider's stock after acquiring an additional 1,020 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.06% of PRA Group worth $476,000 as of its most recent filing with the SEC. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PRAA has been the subject of several recent analyst reports. Citigroup reaffirmed an "outperform" rating on shares of PRA Group in a report on Tuesday. JMP Securities set a $24.00 price target on shares of PRA Group and gave the company a "market outperform" rating in a report on Tuesday. Finally, Wall Street Zen downgraded shares of PRA Group from a "hold" rating to a "sell" rating in a report 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.