PRA Group (NASDAQ:PRAA) Upgraded at StockNews.com

StockNews.com upgraded shares of PRA Group (NASDAQ:PRAA) from a hold rating to a buy rating in a research note published on Tuesday.

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

PRA Group Stock Up 3.2 %

NASDAQ PRAA opened at $23.00 on Tuesday. The business’s fifty day simple moving average is $22.65 and its 200-day simple moving average is $22.89. The firm has a market cap of $906.66 million, a PE ratio of -41.26 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 posted its earnings results on Monday, August 5th. The business services provider reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.46. The company had revenue of $284.20 million for the quarter, compared to analyst estimates of $245.04 million. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. PRA Group’s revenue was up 35.9% on a year-over-year basis. During the same period in the previous year, the business posted ($0.10) EPS. Research analysts expect that PRA Group will post 1.33 EPS for the current year.

Insider Transactions at PRA Group

In other news, Director Geir Olsen acquired 11,750 shares of the company’s stock in a transaction dated 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 owns 11,750 shares of the company’s stock, valued at approximately $251,332.50. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PRA Group in the second quarter worth $29,000. nVerses Capital LLC raised its stake 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 acquiring an additional 1,400 shares in the last quarter. Innealta Capital LLC acquired a new position in PRA Group during the 2nd quarter worth $57,000. PNC Financial Services Group Inc. increased its holdings in PRA Group by 11.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock worth $103,000 after purchasing an additional 419 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in PRA Group during the 1st quarter worth about $103,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

About PRA Group

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.