PRA Group (NASDAQ:PRAA) PT Lowered to $42.00

PRA Group (NASDAQ:PRAA – Get Rating) had its price target lowered by equities research analysts at JMP Securities from $47.00 to $42.00 in a research note issued to investors on Friday, The Fly reports. The brokerage currently has a “market outperform” rating on the business services provider’s stock. JMP Securities’ price target would indicate a potential upside of 18.18% from the stock’s current price.

Separately, StockNews.com began coverage on shares of PRA Group in a research report on Wednesday, October 12th. They set a “hold” rating for the company.

PRA Group Trading Down 0.5 %

Shares of PRAA opened at $35.54 on Friday. PRA Group has a twelve month low of $29.68 and a twelve month high of $50.92. The stock’s 50 day moving average is $33.84 and its two-hundred day moving average is $35.11. The firm has a market capitalization of $1.39 billion, a PE ratio of 10.77 and a beta of 1.13.

PRA Group (NASDAQ:PRAA – Get Rating) last announced its quarterly earnings data on Thursday, November 3rd. The business services provider reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.17. PRA Group had a return on equity of 10.63% and a net margin of 13.54%. The company had revenue of $244.81 million for the quarter, compared to analyst estimates of $227.60 million. On average, sell-side analysts predict that PRA Group will post 2.8 EPS for the current year.

Institutional Investors Weigh In On PRA Group

A number of hedge funds and other institutional investors have recently modified their holdings of PRAA. Group One Trading L.P. raised its position in shares of PRA Group by 106.7% during the 1st quarter. Group One Trading L.P. now owns 700 shares of the business services provider’s stock worth $32,000 after purchasing an additional 11,133 shares during the last quarter. Quadrant Capital Group LLC acquired a new position in shares of PRA Group during the 3rd quarter worth approximately $34,000. Point72 Hong Kong Ltd raised its position in shares of PRA Group by 38.2% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,050 shares of the business services provider’s stock worth $47,000 after purchasing an additional 290 shares during the last quarter. IFP Advisors Inc raised its position in shares of PRA Group by 28.3% during the 3rd quarter. IFP Advisors Inc now owns 1,597 shares of the business services provider’s stock worth $74,000 after purchasing an additional 352 shares during the last quarter. Finally, Captrust Financial Advisors raised its position in shares of PRA Group by 15.3% during the 2nd quarter. Captrust Financial Advisors now owns 2,387 shares of the business services provider’s stock worth $87,000 after purchasing an additional 317 shares during the last quarter.

About PRA Group

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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.