PRA Group, Inc. (NASDAQ:PRAA - Get Free Report)'s stock price rose 12% during mid-day trading on Monday after an insider bought additional shares in the company. The company traded as high as $14.93 and last traded at $15.06. Approximately 286,034 shares were traded during mid-day trading, an increase of 6% from the average daily volume of 269,212 shares. The stock had previously closed at $13.44.
Specifically, Director Brett Lee Paschke purchased 5,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $13.39 per share, for a total transaction of $66,950.00. Following the purchase, the director now owns 30,056 shares in the company, valued at $402,449.84. The trade was a 19.96% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Analyst Ratings Changes
PRAA has been the topic of several research analyst reports. StockNews.com downgraded PRA Group from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. JMP Securities decreased their target price on PRA Group from $30.00 to $23.00 and set a "market outperform" rating for the company in a research note on Tuesday, May 6th.
Get Our Latest Research Report on PRA Group
PRA Group Price Performance
The stock has a market cap of $595.68 million, a P/E ratio of 8.41 and a beta of 1.70. The business's 50 day simple moving average is $18.44 and its 200 day simple moving average is $20.49.
PRA Group (NASDAQ:PRAA - Get Free Report) last issued its earnings results on Monday, May 5th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.32). PRA Group had a return on equity of 5.16% and a net margin of 6.33%. The company had revenue of $269.62 million during the quarter, compared to analyst estimates of $288.63 million. During the same period in the previous year, the company posted $0.09 earnings per share. The company's quarterly revenue was up 5.5% on a year-over-year basis. Research analysts predict that PRA Group, Inc. will post 2.1 earnings per share for the current year.
Hedge Funds Weigh In On PRA Group
A number of hedge funds have recently modified their holdings of PRAA. Sterling Capital Management LLC raised its holdings in shares of PRA Group by 805.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,241 shares of the business services provider's stock worth $26,000 after buying an additional 1,104 shares in the last quarter. Quarry LP increased its holdings in PRA Group by 154.2% during the 4th quarter. Quarry LP now owns 3,345 shares of the business services provider's stock valued at $70,000 after purchasing an additional 2,029 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new stake in PRA Group during the 4th quarter valued at $134,000. Headlands Technologies LLC increased its holdings in PRA Group by 231.3% during the 4th quarter. Headlands Technologies LLC now owns 7,278 shares of the business services provider's stock valued at $152,000 after purchasing an additional 5,081 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in PRA Group during the 4th quarter valued at $155,000. 97.22% of the stock is owned by institutional investors and hedge funds.
About PRA Group
(
Get Free Report)
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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