PRA Group (NASDAQ:PRAA) Rating Lowered to “Hold” at Zacks Research

PRA Group (NASDAQ:PRAA) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

Other equities analysts also recently issued research reports about the stock. Wall Street Zen upgraded shares of PRA Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 26th. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a research note on Monday, September 21st. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, PRA Group has a consensus rating of “Hold” and a consensus target price of $26.00.

PRA Group Stock Performance

PRA Group stock opened at $20.28 on Tuesday. The business’s 50-day simple moving average is $19.32 and its two-hundred day simple moving average is $18.22. The company has a market cap of $763.54 million, a PE ratio of -3.01 and a beta of 1.13. PRA Group has a fifty-two week low of $10.25 and a fifty-two week high of $22.55.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.99. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%.The firm had revenue of $372.17 million during the quarter, compared to analysts’ expectations of $299.99 million. As a group, analysts predict that PRA Group will post 3.93 EPS for the current fiscal year.

Hedge Funds Weigh In On PRA Group

Several institutional investors and hedge funds have recently modified their holdings of PRAA. BlackRock Inc. purchased a new position in shares of PRA Group in the second quarter valued at approximately $84,183,000. Assenagon Asset Management S.A. increased its position in shares of PRA Group by 401.6% during the second quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock worth $11,421,000 after purchasing an additional 481,538 shares in the last quarter. Bank of America Corp DE acquired a new position in PRA Group in the 2nd quarter valued at $3,112,000. Susquehanna International Group LLP raised its stake in PRA Group by 288.0% in the 2nd quarter. Susquehanna International Group LLP now owns 200,848 shares of the business services provider’s stock valued at $3,814,000 after purchasing an additional 149,078 shares during the last quarter. Finally, Bank of New York Mellon Corp purchased a new position in PRA Group in the 2nd quarter valued at $2,404,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

PRA Group Company Profile

PRA Group, Inc is a global financial services company that purchases portfolios of nonperforming consumer accounts from banks, credit unions and other lenders. The company works with consumers to resolve outstanding obligations through a range of repayment and account-management arrangements.

Its business includes the acquisition, servicing and collection of unpaid consumer loans and other receivables. PRA Group also provides related portfolio-management and consulting services, using data analysis and customer-focused communication to manage accounts throughout their recovery cycle.

Founded in 1996 and headquartered in Norfolk, Virginia, PRA Group serves consumers and financial institutions across North America, Europe and Australia.