PRA Group (NASDAQ:PRAA) Announces Earnings Results

PRA Group (NASDAQ:PRAA) announced its quarterly earnings data on Monday. The business services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03, Zacks reports. PRA Group had a net margin of 8.10% and a return on equity of 6.52%.

PRA Group Stock Performance

Shares of PRAA stock traded up $0.94 during trading on Monday, hitting $14.65. 466,612 shares of the company were exchanged, compared to its average volume of 362,170. The business’s 50-day simple moving average is $15.53 and its 200 day simple moving average is $15.55. PRA Group has a twelve month low of $12.91 and a twelve month high of $25.43. The firm has a market capitalization of $572.43 million, a price-to-earnings ratio of 6.29 and a beta of 1.45.

Analyst Ratings Changes

PRAA has been the subject of a number of research reports. Wall Street Zen upgraded shares of PRA Group from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. JMP Securities set a $24.00 price objective on PRA Group and gave the stock a “market outperform” rating in a research note on Tuesday, August 5th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of PRA Group in a research report on Wednesday, October 8th. Finally, Citigroup reissued an “outperform” rating on shares of PRA Group in a research note on Tuesday, August 5th. Three equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.50.

Institutional Investors Weigh In On PRA Group

A number of institutional investors have recently modified their holdings of the stock. Topline Capital Management LLC grew its holdings in shares of 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 acquiring an additional 1,411,707 shares in the last quarter. Invesco Ltd. grew its stake in PRA Group by 15.5% in the second quarter. Invesco Ltd. now owns 819,742 shares of the business services provider’s stock valued at $12,091,000 after purchasing an additional 109,857 shares in the last quarter. Ameriprise Financial Inc. grew its stake in PRA Group by 130.9% in the second quarter. Ameriprise Financial Inc. now owns 428,135 shares of the business services provider’s stock valued at $6,315,000 after purchasing an additional 242,721 shares in the last quarter. JPMorgan Chase & Co. increased its position in PRA Group by 59.1% in the 2nd quarter. JPMorgan Chase & Co. now owns 217,861 shares of the business services provider’s stock worth $3,213,000 after purchasing an additional 80,945 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of PRA Group by 8.1% during the 2nd quarter. Public Sector Pension Investment Board now owns 135,212 shares of the business services provider’s stock valued at $1,994,000 after buying an additional 10,129 shares during the last quarter. Institutional investors and hedge funds 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.