PRA Group (NASDAQ:PRAA) Trading Up 3.7%

Shares of PRA Group, Inc. (NASDAQ:PRAA) traded up 3.7% during mid-day trading on Wednesday . The stock traded as high as $23.15 and last traded at $23.14. 6,507 shares traded hands during mid-day trading, a decline of 97% from the average session volume of 217,190 shares. The stock had previously closed at $22.31.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. StockNews.com raised PRA Group from a “sell” rating to a “hold” rating in a report on Friday, February 16th. JMP Securities raised their target price on PRA Group from $26.00 to $33.00 and gave the stock a “market outperform” rating in a report on Friday, February 16th.

PRA Group Trading Down 2.4 %

The business has a 50-day simple moving average of $24.98 and a 200-day simple moving average of $21.94.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Thursday, February 15th. The business services provider reported ($0.22) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.13. The company had revenue of $221.42 million for the quarter, compared to the consensus estimate of $208.25 million. PRA Group had a negative return on equity of 6.82% and a negative net margin of 10.40%. PRA Group’s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 earnings per share. As a group, equities analysts forecast that PRA Group, Inc. will post 0.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Vikram A. Atal sold 5,830 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $24.39, for a total value of $142,193.70. Following the transaction, the chief executive officer now owns 155,625 shares in the company, valued at $3,795,693.75. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PRA Group

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Quadrature Capital Ltd purchased a new position in shares of PRA Group in the fourth quarter valued at approximately $454,000. PNC Financial Services Group Inc. lifted its position in shares of PRA Group by 11.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 419 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of PRA Group by 1.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,245 shares of the business services provider’s stock valued at $1,527,000 after acquiring an additional 1,033 shares in the last quarter. Chartwell Investment Partners LLC lifted its position in shares of PRA Group by 16.6% in the fourth quarter. Chartwell Investment Partners LLC now owns 484,040 shares of the business services provider’s stock valued at $12,682,000 after acquiring an additional 68,963 shares in the last quarter. Finally, Barclays PLC lifted its position in shares of PRA Group by 322.2% in the fourth quarter. Barclays PLC now owns 82,220 shares of the business services provider’s stock valued at $2,154,000 after acquiring an additional 62,745 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

PRA Group Company Profile

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.