PRA Group (NASDAQ:PRAA) Stock Rating Reaffirmed by JMP Securities

PRA Group (NASDAQ:PRAA)‘s stock had its “market outperform” rating reaffirmed by JMP Securities in a report issued on Tuesday, Benzinga reports. They presently have a $33.00 price objective on the business services provider’s stock. JMP Securities’ price target indicates a potential upside of 30.38% from the company’s current price.

Separately, StockNews.com raised shares of PRA Group from a “sell” rating to a “hold” rating in a research note on Friday, February 16th.

PRA Group Trading Up 1.1 %

PRAA stock opened at $25.31 on Tuesday. PRA Group has a 1-year low of $11.85 and a 1-year high of $31.43. The business’s 50 day moving average is $24.73 and its 200-day moving average is $22.58. The firm has a market cap of $996.00 million, a P/E ratio of -11.88 and a beta of 1.47.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, May 6th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.24. The firm had revenue of $255.59 million during the quarter, compared to the consensus estimate of $233.37 million. PRA Group had a negative net margin of 10.40% and a negative return on equity of 6.82%. The firm’s quarterly revenue was up 64.4% on a year-over-year basis. During the same period last year, the firm posted ($1.50) EPS. Sell-side analysts forecast that PRA Group will post 0.35 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Vikram A. Atal sold 5,830 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $24.39, for a total value of $142,193.70. Following the transaction, the chief executive officer now owns 155,625 shares of the company’s stock, valued at approximately $3,795,693.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. SG Americas Securities LLC bought a new stake in PRA Group in the third quarter valued at about $179,000. Bank of New York Mellon Corp grew its position in shares of PRA Group by 9.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,337,568 shares of the business services provider’s stock worth $25,695,000 after buying an additional 116,789 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PRA Group by 40.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,447 shares of the business services provider’s stock valued at $181,000 after acquiring an additional 2,722 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of PRA Group in the 3rd quarter valued at approximately $377,000. Finally, Illinois Municipal Retirement Fund acquired a new stake in shares of PRA Group in the 3rd quarter valued at approximately $432,000. 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.