PRA Group (NASDAQ:PRAA) Shares Down 3.8% – What’s Next?

PRA Group, Inc. (NASDAQ:PRAA) shares were down 3.8% during trading on Tuesday. The stock traded as low as $19.24 and last traded at $19.2880. 17,810 shares changed hands during trading, a decline of 97% from the average daily volume of 521,226 shares. The stock had previously closed at $20.05.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on PRAA shares. Zacks Research upgraded PRA Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a research report on Monday, September 21st. Finally, Wall Street Zen raised shares of PRA Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $26.00.

PRA Group Trading Down 4.9%

The company has a market cap of $717.61 million, a PE ratio of -2.83 and a beta of 1.11. The company has a fifty day simple moving average of $19.02 and a two-hundred day simple moving average of $18.11.

PRA Group (NASDAQ:PRAA) last released its earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.99. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. The firm had revenue of $372.17 million for the quarter, compared to analyst estimates of $299.99 million. On average, research analysts anticipate that PRA Group, Inc. will post 3.93 EPS for the current fiscal year.

Institutional Investors Weigh In On PRA Group

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of PRA Group during the second quarter worth $84,183,000. Wellington Management Group LLP lifted its holdings in PRA Group by 10.3% during the 2nd quarter. Wellington Management Group LLP now owns 827,720 shares of the business services provider’s stock worth $15,718,000 after buying an additional 77,188 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of PRA Group by 401.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock worth $11,421,000 after acquiring an additional 481,538 shares in the last quarter. Invenomic Capital Management LP increased its holdings in shares of PRA Group by 2.9% in the 4th quarter. Invenomic Capital Management LP now owns 427,376 shares of the business services provider’s stock valued at $7,560,000 after acquiring an additional 11,895 shares during the last quarter. Finally, Susquehanna International Group LLP increased its holdings in shares of 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 acquiring an additional 149,078 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

About PRA Group

PRA Group, Inc is a global financial services company that purchases portfolios of accounts receivable from banks, credit unions, consumer finance companies and other creditors. These portfolios generally consist of nonperforming or distressed consumer accounts, including unpaid credit card balances, personal loans and other forms of unsecured debt.

After acquiring receivables, PRA Group works directly with consumers to establish repayment arrangements and resolve outstanding obligations.