PRA Group (NASDAQ:PRAA) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of PRA Group (NASDAQ:PRAA) from a hold rating to a buy rating in a report issued on Tuesday morning.

Separately, Truist Financial decreased their price objective on PRA Group from $42.00 to $28.00 and set a buy rating for the company in a research note on Tuesday, August 20th.

PRA Group Stock Performance

NASDAQ PRAA opened at $22.10 on Tuesday. The stock has a fifty day moving average of $22.70 and a 200-day moving average of $22.90. The stock has a market capitalization of $869.68 million, a P/E ratio of -40.93 and a beta of 1.49. PRA Group has a 52 week low of $11.85 and a 52 week high of $31.43.

PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, August 5th. The business services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.08 by $0.46. The company had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $245.04 million. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The business’s revenue for the quarter was up 35.9% on a year-over-year basis. During the same period last year, the firm earned ($0.10) EPS. Equities research analysts forecast that PRA Group will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Geir Olsen acquired 11,750 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $21.39 per share, with a total value of $251,332.50. Following the completion of the purchase, the director now directly owns 11,750 shares in the company, valued at $251,332.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Point72 Asia Singapore Pte. Ltd. bought a new position in PRA Group during the second quarter worth about $29,000. nVerses Capital LLC lifted its holdings in shares of PRA Group by 700.0% in the second quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,400 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of PRA Group in the second quarter valued at about $57,000. PNC Financial Services Group Inc. lifted its holdings in shares of PRA Group by 11.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 419 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of PRA Group in the first quarter valued at about $103,000. 97.22% of the stock is currently 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.