William Blair Analysts Lower Earnings Estimates for PRA Group, Inc. (NASDAQ:PRAA)

PRA Group, Inc. (NASDAQ:PRAAGet Rating) – Equities researchers at William Blair dropped their Q3 2022 earnings per share estimates for shares of PRA Group in a research report issued to clients and investors on Tuesday, May 10th. William Blair analyst R. Napoli now anticipates that the business services provider will post earnings per share of $0.53 for the quarter, down from their previous estimate of $0.70. William Blair currently has a “Outperform” rating on the stock. William Blair also issued estimates for PRA Group’s Q4 2022 earnings at $0.54 EPS, Q1 2023 earnings at $0.92 EPS, Q3 2023 earnings at $0.80 EPS, Q4 2023 earnings at $0.88 EPS and FY2023 earnings at $3.51 EPS.

Several other research firms have also issued reports on PRAA. StockNews.com lowered PRA Group from a “buy” rating to a “hold” rating in a research note on Saturday, April 16th. JMP Securities reduced their price target on PRA Group from $60.00 to $56.00 and set a “market outperform” rating on the stock in a research report on Tuesday, March 1st.

PRAA opened at $38.15 on Thursday. PRA Group has a 52-week low of $36.82 and a 52-week high of $51.00. The firm has a market capitalization of $1.53 billion, a PE ratio of 10.20 and a beta of 1.28. The business’s 50-day simple moving average is $43.64 and its 200 day simple moving average is $45.24.

PRA Group (NASDAQ:PRAAGet Rating) last posted its quarterly earnings data on Monday, May 9th. The business services provider reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.23. PRA Group had a return on equity of 11.82% and a net margin of 15.73%. The company had revenue of $240.60 million during the quarter, compared to analysts’ expectations of $253.46 million. During the same period in the prior year, the firm earned $1.27 earnings per share. PRA Group’s revenue for the quarter was down 16.9% compared to the same quarter last year.

Several hedge funds have recently bought and sold shares of PRAA. Marshall Wace North America L.P. raised its position in shares of PRA Group by 32.9% in the 1st quarter. Marshall Wace North America L.P. now owns 1,655 shares of the business services provider’s stock worth $44,000 after acquiring an additional 410 shares in the last quarter. First Trust Advisors LP raised its position in shares of PRA Group by 17.0% in the 1st quarter. First Trust Advisors LP now owns 69,846 shares of the business services provider’s stock worth $1,873,000 after acquiring an additional 10,134 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of PRA Group in the 3rd quarter worth about $486,000. Swiss National Bank raised its position in shares of PRA Group by 0.7% in the 3rd quarter. Swiss National Bank now owns 101,200 shares of the business services provider’s stock worth $4,265,000 after acquiring an additional 700 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of PRA Group by 56.2% in the 3rd quarter. Barclays PLC now owns 72,790 shares of the business services provider’s stock valued at $3,067,000 after buying an additional 26,195 shares during the period. 98.89% of the stock is owned by hedge funds and other institutional investors.

In related news, CEO Kevin P. Stevenson sold 10,000 shares of the firm’s stock in a transaction on Wednesday, April 20th. The stock was sold at an average price of $44.89, for a total transaction of $448,900.00. Following the sale, the chief executive officer now owns 370,949 shares of the company’s stock, valued at approximately $16,651,900.61. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin P. Stevenson sold 5,000 shares of the firm’s stock in a transaction on Monday, April 25th. The shares were sold at an average price of $42.99, for a total value of $214,950.00. Following the sale, the chief executive officer now directly owns 355,949 shares in the company, valued at approximately $15,302,247.51. The disclosure for this sale can be found here. Insiders have sold 30,000 shares of company stock worth $1,329,950 in the last three months. 1.75% of the stock is currently owned by company insiders.

About PRA Group (Get Rating)

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans in the Americas, Australia, and Europe. 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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Earnings History and Estimates for PRA Group (NASDAQ:PRAA)

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