PRA Group (NASDAQ:PRAA) Stock Falls 3.8% - What's Next?

Key Points

• PRA Group shares fell 3.8% to about $19.29 in thin trading, with volume roughly 97% below the average session volume.
• Analyst sentiment is mixed: recent firms upgraded the stock to “strong buy,” while Weiss Ratings maintained a sell rating. The overall consensus remains “Hold,” with a $26 price target.
• The company’s latest quarterly results exceeded expectations, reporting $1.51 in EPS versus a $0.52 estimate and $372.17 million in revenue versus a $299.99 million forecast. Institutional investors own approximately 97.22% of the shares.

Shares of PRA Group, Inc. (NASDAQ:PRAA - Get Free Report) traded down 3.8% on Tuesday. The company traded as low as $19.24 and last traded at $19.2880. Approximately 17,810 shares changed hands during trading, a decline of 97% from the average session volume of 521,226 shares. The stock had previously closed at $20.05.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PRAA shares. Zacks Research upgraded shares of PRA Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Wall Street Zen raised shares of PRA Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of PRA Group in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $26.00.

PRA Group Trading Down 4.9%

The company has a 50-day moving average of $19.02 and a 200-day moving average of $18.11. The company has a market capitalization of $717.61 million, a price-to-earnings ratio of -2.83 and a beta of 1.11.

PRA Group (NASDAQ:PRAA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.99. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%.The business had revenue of $372.17 million during the quarter, compared to the consensus estimate of $299.99 million. On average, research analysts expect that PRA Group, Inc. will post 3.93 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC boosted its stake in PRA Group by 49.6% during the first quarter. EverSource Wealth Advisors LLC now owns 3,711 shares of the business services provider's stock worth $65,000 after buying an additional 1,230 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of PRA Group in the 2nd quarter valued at approximately $49,000. Inspire Investing LLC raised its stake in shares of PRA Group by 11.1% in the 1st quarter. Inspire Investing LLC now owns 29,446 shares of the business services provider's stock valued at $515,000 after acquiring an additional 2,941 shares during the period. SG Americas Securities LLC lifted its holdings in shares of PRA Group by 27.1% in the 1st quarter. SG Americas Securities LLC now owns 15,318 shares of the business services provider's stock worth $268,000 after acquiring an additional 3,267 shares during the last quarter. Finally, Counterpoint Mutual Funds LLC lifted its holdings in shares of PRA Group by 12.0% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 32,416 shares of the business services provider's stock worth $567,000 after acquiring an additional 3,479 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company's stock.

PRA Group Company Profile

PRA Group, Inc is a global financial services company that purchases portfolios of accounts receivable from banks, credit unions, consumer finance companies and other creditors. These portfolios generally consist of nonperforming or distressed consumer accounts, including unpaid credit card balances, personal loans and other forms of unsecured debt.

After acquiring receivables, PRA Group works directly with consumers to establish repayment arrangements and resolve outstanding obligations.

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