PRA Group (NASDAQ:PRAA) Shares Down 4.6% - Here's What Happened

Key Points

• PRA Group shares fell by 4.6% on Monday, trading as low as $14.31, while the average trading volume decreased by 71%.
• Analysts have mixed ratings for PRA Group, with three analysts giving it a "Buy" rating and one a "Sell" rating; the average target price is $27.50.
• The company reported earnings of $1.08 per share for the last quarter, exceeding analyst expectations and generating revenue of $287.69 million.

PRA Group, Inc. (NASDAQ:PRAA - Get Free Report) shares traded down 4.6% on Monday . The company traded as low as $14.31 and last traded at $14.17. 106,686 shares were traded during mid-day trading, a decline of 71% from the average session volume of 368,894 shares. The stock had previously closed at $14.85.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PRAA. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of PRA Group in a report on Saturday, September 27th. Wall Street Zen upgraded shares of PRA Group from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup reaffirmed an "outperform" rating on shares of PRA Group in a research note on Tuesday, August 5th. Finally, JMP Securities set a $24.00 price objective on shares of PRA Group and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, PRA Group currently has an average rating of "Moderate Buy" and an average target price of $27.50.

PRA Group Price Performance

The business has a 50 day moving average of $16.28 and a 200 day moving average of $16.23. The firm has a market capitalization of $553.23 million, a price-to-earnings ratio of 6.08 and a beta of 1.45.

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

Institutional Investors Weigh In On PRA Group

Institutional investors and hedge funds have recently modified their holdings of the company. The Manufacturers Life Insurance Company increased its holdings in shares of PRA Group by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,523 shares of the business services provider's stock worth $214,000 after acquiring an additional 768 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of PRA Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider's stock valued at $476,000 after purchasing an additional 1,020 shares during the period. GAMMA Investing LLC boosted its holdings in shares of PRA Group by 301.0% during the 3rd quarter. GAMMA Investing LLC now owns 1,684 shares of the business services provider's stock worth $26,000 after buying an additional 1,264 shares during the period. Legal & General Group Plc raised its holdings in PRA Group by 1.4% in the 2nd quarter. Legal & General Group Plc now owns 105,951 shares of the business services provider's stock valued at $1,563,000 after acquiring an additional 1,424 shares during the period. Finally, American Century Companies Inc. grew its position in shares of PRA Group by 0.6% in the second quarter. American Century Companies Inc. now owns 282,204 shares of the business services provider's stock valued at $4,163,000 after purchasing an additional 1,679 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

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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