PRA Group (NASDAQ:PRAA) Given a $24.00 Price Target at JMP Securities

Key Points

• JMP Securities has raised the price target for PRA Group from $23.00 to $24.00, indicating a potential upside of 53.55% from its previous close.
• PRA Group's stock is currently trading at $15.63, reflecting a 3.8% increase, with notable earnings exceeding consensus estimates in its latest quarterly reports.
• While JMP Securities maintains a "market outperform" rating, Wall Street Zen has downgraded PRA Group from "hold" to "sell," reflecting mixed investor sentiment.

PRA Group (NASDAQ:PRAA - Get Free Report) has been given a $24.00 price objective by research analysts at JMP Securities in a research report issued on Tuesday, Marketbeat Ratings reports. The firm presently has a "market outperform" rating on the business services provider's stock. JMP Securities' price target indicates a potential upside of 53.55% from the stock's previous close.

Separately, Wall Street Zen lowered shares of PRA Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

PRA Group Stock Up 0.4%

Shares of PRAA stock opened at $15.63 on Tuesday. The stock has a 50-day simple moving average of $15.20 and a 200 day simple moving average of $17.81. The stock has a market capitalization of $619.89 million, a P/E ratio of 6.71 and a beta of 1.54. PRA Group has a fifty-two week low of $12.91 and a fifty-two week high of $25.43.

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

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PRAA. Vanguard Group Inc. grew its stake in shares of PRA Group by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 4,322,609 shares of the business services provider's stock valued at $89,132,000 after buying an additional 21,934 shares in the last quarter. Wellington Management Group LLP grew its position in PRA Group by 3.2% in the first quarter. Wellington Management Group LLP now owns 3,881,917 shares of the business services provider's stock worth $80,045,000 after acquiring an additional 120,965 shares in the last quarter. Global Alpha Capital Management Ltd. increased its stake in shares of PRA Group by 6.4% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 2,018,200 shares of the business services provider's stock worth $41,615,000 after purchasing an additional 122,200 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of PRA Group by 6.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,934,124 shares of the business services provider's stock valued at $40,404,000 after purchasing an additional 121,109 shares in the last quarter. Finally, T. Rowe Price Investment Management Inc. lifted its stake in shares of PRA Group by 1.2% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,883,567 shares of the business services provider's stock valued at $38,840,000 after purchasing an additional 21,627 shares during the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

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.