JMP Securities Issues Positive Forecast for PRA Group (NASDAQ:PRAA) Stock Price

PRA Group (NASDAQ:PRAA) had its price target boosted by JMP Securities from $23.00 to $24.00 in a research report released on Tuesday,Benzinga reports. JMP Securities currently has a market outperform rating on the business services provider’s stock.

Separately, Wall Street Zen lowered shares of PRA Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

PRA Group Stock Down 0.4%

Shares of NASDAQ PRAA opened at $15.56 on Tuesday. The company has a 50 day moving average of $15.17 and a 200 day moving average of $17.83. PRA Group has a twelve month low of $12.91 and a twelve month high of $26.89. The firm has a market cap of $617.11 million, a P/E ratio of 6.68 and a beta of 1.54.

PRA Group (NASDAQ:PRAA) last issued its earnings results on Monday, August 4th. The business services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.46. PRA Group had a net margin of 8.10% and a return on equity of 6.70%. The company had revenue of $287.69 million for the quarter, compared to analysts’ expectations of $279.34 million. As a group, equities analysts expect that PRA Group will post 2.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On PRA Group

Hedge funds and other institutional investors have recently modified their holdings of the business. Sterling Capital Management LLC boosted its holdings in shares of PRA Group by 805.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,241 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,104 shares in the last quarter. Quarry LP lifted its position in PRA Group by 154.2% during the fourth quarter. Quarry LP now owns 3,345 shares of the business services provider’s stock valued at $70,000 after acquiring an additional 2,029 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in PRA Group in the fourth quarter valued at approximately $134,000. Virtus Advisers LLC acquired a new stake in PRA Group in the first quarter valued at approximately $147,000. Finally, Point72 Asset Management L.P. purchased a new position in PRA Group in the fourth quarter worth $155,000. 97.22% of the stock is currently owned by institutional investors.

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.