PRA Group (NASDAQ:PRAA) Shares Pass Above 200 Day Moving Average – What’s Next?

PRA Group, Inc. (NASDAQ:PRAA)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $15.65 and traded as high as $17.10. PRA Group shares last traded at $16.94, with a volume of 1,905,487 shares traded.

Analysts Set New Price Targets

Several research firms have recently issued reports on PRAA. Weiss Ratings reissued a “sell (d)” rating on shares of PRA Group in a research report on Monday. Zacks Research upgraded PRA Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. Finally, Truist Financial reduced their price target on PRA Group from $33.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, November 4th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, PRA Group has a consensus rating of “Moderate Buy” and an average target price of $25.00.

PRA Group Trading Up 0.7%

The company’s fifty day simple moving average is $15.51 and its 200 day simple moving average is $15.65. The stock has a market capitalization of $660.83 million, a P/E ratio of -1.93 and a beta of 1.32.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings results on Monday, November 3rd. The business services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. The firm had revenue of $247.08 million for the quarter, compared to analysts’ expectations of $295.77 million. PRA Group had a negative net margin of 29.55% and a positive return on equity of 7.03%. Equities research analysts predict that PRA Group, Inc. will post 2.1 earnings per share for the current year.

Insider Buying and Selling at PRA Group

In other PRA Group news, Director Geir Olsen purchased 15,000 shares of the stock in a transaction on Thursday, November 6th. The shares were purchased at an average price of $14.15 per share, with a total value of $212,250.00. Following the acquisition, the director directly owned 58,933 shares in the company, valued at approximately $833,901.95. The trade was a 34.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On PRA Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Topline Capital Management LLC grew its stake in PRA Group by 168.3% in the 2nd quarter. Topline Capital Management LLC now owns 2,250,629 shares of the business services provider’s stock worth $33,197,000 after buying an additional 1,411,707 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of PRA Group by 130.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 428,135 shares of the business services provider’s stock valued at $6,315,000 after buying an additional 242,721 shares in the last quarter. Capital Management Corp VA lifted its holdings in shares of PRA Group by 56.1% during the 2nd quarter. Capital Management Corp VA now owns 551,523 shares of the business services provider’s stock worth $8,135,000 after acquiring an additional 198,152 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of PRA Group by 144.8% during the 1st quarter. American Century Companies Inc. now owns 280,525 shares of the business services provider’s stock worth $5,784,000 after acquiring an additional 165,951 shares during the last quarter. Finally, Nuveen LLC purchased a new position in PRA Group in the first quarter worth $3,000,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

About PRA Group

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.