PRA Group (NASDAQ:PRAA) Shares Pass Above Two Hundred Day Moving Average - Here's Why

Key Points

• PRA Group passed above its 200-day moving average (200-day = $15.52), trading as high as $18.23 and last at $18.04 on volume of 234,050 shares.
• The company beat quarterly estimates, reporting EPS of $1.46 vs. $0.50 expected and revenue of $333.39M vs. $288.86M, though it still recorded a negative net margin of 25.39%.
• Several firms have trimmed ratings, leaving a market consensus of "Hold" with a $25.00 price target, and approximately 97.22% of the stock is held by institutional investors.

PRA Group, Inc. (NASDAQ:PRAA - Get Free Report)'s share price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $15.52 and traded as high as $18.23. PRA Group shares last traded at $18.04, with a volume of 234,050 shares changing hands.

Analyst Ratings Changes

PRAA has been the subject of a number of research reports. Citizens Jmp cut PRA Group from a "market outperform" rating to a "market perform" rating in a research note on Wednesday, January 28th. Citigroup cut PRA Group from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 28th. Zacks Research lowered PRA Group from a "strong-buy" rating to a "hold" rating in a report on Monday, January 5th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of PRA Group in a report on Friday, March 27th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $25.00.

PRA Group Price Performance

The company has a market cap of $693.69 million, a P/E ratio of -2.31 and a beta of 1.14. The stock has a fifty day moving average price of $14.85 and a two-hundred day moving average price of $15.52.

PRA Group (NASDAQ:PRAA - Get Free Report) last released its earnings results on Thursday, February 26th. The business services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.96. The company had revenue of $333.39 million during the quarter, compared to analyst estimates of $288.86 million. PRA Group had a positive return on equity of 10.50% and a negative net margin of 25.39%. Equities analysts predict that PRA Group, Inc. will post 2.1 earnings per share for the current fiscal year.

Institutional Trading of PRA Group

Hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC bought a new stake in PRA Group during the fourth quarter worth $27,000. GAMMA Investing LLC lifted its holdings in PRA Group by 301.0% during the third quarter. GAMMA Investing LLC now owns 1,684 shares of the business services provider's stock worth $26,000 after acquiring an additional 1,264 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in PRA Group by 145.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider's stock worth $44,000 after acquiring an additional 1,471 shares during the period. Larson Financial Group LLC lifted its holdings in PRA Group by 146.8% during the fourth quarter. Larson Financial Group LLC now owns 2,848 shares of the business services provider's stock worth $50,000 after acquiring an additional 1,694 shares during the period. Finally, CWM LLC lifted its holdings in PRA Group by 140.0% during the third quarter. CWM LLC now owns 4,618 shares of the business services provider's stock worth $71,000 after acquiring an additional 2,694 shares during the period. 97.22% of the stock is currently owned by institutional investors.

PRA Group Company Profile

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company's core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.

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