PRA Group’s (PRAA) “Market Perform” Rating Reaffirmed at Citizens Jmp

Citizens Jmp reiterated their market perform rating on shares of PRA Group (NASDAQ:PRAA) in a research note issued to investors on Wednesday, MarketBeat reports.

PRAA has been the subject of a number of other research reports. Zacks Research downgraded PRA Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Truist Financial lowered their price objective on shares of PRA Group from $33.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a research note on Monday, December 29th. Finally, Citigroup cut shares of PRA Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday. Two investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $25.00.

PRA Group Stock Performance

PRA Group stock opened at $12.95 on Wednesday. PRA Group has a fifty-two week low of $12.29 and a fifty-two week high of $23.97. The stock has a market cap of $505.18 million, a P/E ratio of -1.47 and a beta of 1.33. The firm’s fifty day moving average price is $16.77 and its 200-day moving average price is $16.00.

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

Insider Transactions at PRA Group

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

Institutional Trading of PRA Group

Large investors have recently modified their holdings of the business. Topline Capital Management LLC raised its position in PRA Group by 168.3% during the 2nd quarter. Topline Capital Management LLC now owns 2,250,629 shares of the business services provider’s stock valued at $33,197,000 after purchasing an additional 1,411,707 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of PRA Group by 130.9% during the second 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 during the period. Capital Management Corp VA raised its holdings in shares of PRA Group by 56.1% during the second quarter. Capital Management Corp VA now owns 551,523 shares of the business services provider’s stock valued at $8,135,000 after acquiring an additional 198,152 shares in the last quarter. Wellington Management Group LLP lifted its stake in PRA Group by 13.8% in the third quarter. Wellington Management Group LLP now owns 1,140,310 shares of the business services provider’s stock worth $17,606,000 after acquiring an additional 138,256 shares during the period. Finally, First Trust Advisors LP bought a new stake in PRA Group in the third quarter valued at $1,883,000. 97.22% of the stock is owned by 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.