PRA Group, Inc. (NASDAQ:PRAA) Receives Average Recommendation of “Hold” from Analysts

Shares of PRA Group, Inc. (NASDAQ:PRAA) have received a consensus recommendation of “Hold” from the six analysts that are presently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $25.00.

A number of research firms recently commented on PRAA. Citigroup cut PRA Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 28th. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a research report on Monday, December 29th. Zacks Research lowered PRA Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Citizens Jmp cut PRA Group from a “market outperform” rating to a “market perform” rating in a report on Wednesday, January 28th. Finally, Truist Financial reduced their price objective on shares of PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th.

PRA Group Price Performance

NASDAQ:PRAA opened at $10.86 on Monday. The company’s 50-day moving average is $15.66 and its two-hundred day moving average is $15.66. PRA Group has a 1-year low of $10.33 and a 1-year high of $23.97. The firm has a market capitalization of $423.65 million, a price-to-earnings ratio of -1.24 and a beta of 1.29.

Hedge Funds Weigh In On PRA Group

A number of hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in PRA Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider’s stock valued at $476,000 after purchasing an additional 1,020 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of PRA Group by 3.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,004 shares of the business services provider’s stock valued at $2,248,000 after buying an additional 4,010 shares in the last quarter. US Bancorp DE lifted its stake in PRA Group by 34.0% during the 2nd quarter. US Bancorp DE now owns 39,556 shares of the business services provider’s stock worth $583,000 after acquiring an additional 10,036 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its stake in PRA Group by 21.4% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 17,284 shares of the business services provider’s stock worth $255,000 after acquiring an additional 3,050 shares in the last quarter. Finally, Wolverine Asset Management LLC boosted its holdings in PRA Group by 49.2% during the 2nd quarter. Wolverine Asset Management LLC now owns 84,588 shares of the business services provider’s stock valued at $1,248,000 after acquiring an additional 27,890 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

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.