The investment analysts at StockNews.com changed their recommendation for PRA Group (NASDAQ: PRAA), moving it from “hold” to “buy” in a report that was published on Friday. The report can be found here.
In a separate piece of news, JMP Securities lowered their price target for PRA Group’s stock in a research note published on Friday. The new price target is $42.00, down from $47.00. Additionally, the company was given a rating of “market outperform” by the company.
On Friday, 146,551 PRAA shares were traded, which is lower than the average daily volume of 182,639 shares the company trades in a given day. This caused the stock price to drop by $0.18, bringing it down to $35.54. The company has a price-to-earnings ratio of 10.77, and the stock has a beta value of 1.13. The current price of the stock on the market is equivalent to $1.39 billion. The price of the stock, as determined by its simple moving averages over the past 50 and 200 days, is $35.12. PRA Group hit an all-time low of $29.68 during its 52-week trading period, while the company reached an all-time high of $50.92 during the same period.
PRA Group (NASDAQ: PRAA) announced the outcomes of its most recent quarterly financial report on the 3rd of November, a Thursday. The business services provider’s quarterly financial results came in at $0.63 per share, which was $0.17 higher than the estimate compiled by analysts as a consensus. The company’s sales for the quarter came in at an impressive $244.81 million, which is a significant increase compared to the consensus projection of $227.60 million. The financials of PRA Group revealed that the company had a return on equity of 10.63% and a net margin of 13.54%. According to projections made by financial experts, the PRA Group is expected to generate earnings of 2.8 cents per share this year.
Many shareholders bought and sold PRAA stock throughout the most recent period. During the first three months of 2018, Group One Trading L.P. saw a 106.7% increase in the percentage of PRA Group shares it held. Group One Trading L.P. increased its holdings in the business services provider by purchasing an additional 11,133 shares of the company’s stock during the most recent fiscal quarter. This brings the total number of shares the company has acquired to 700, with a value of $32,000. The PRA Group received an investment of $34,000 from Quadrant Capital Group LLC during the third quarter of 2018. Point72 Hong Kong Ltd. increased the amount of PRA Group stock held by 38.2% during the first three months of 2018 trading. After acquiring an additional 290 shares during the most recent reporting period, Point72 Hong Kong Ltd. now owns 1,050 shares of the company’s stock, which is $47,000. IFP Advisors Inc. increased the amount of PRA Group stock owned by 28.3% during the third quarter. IFP Advisors Inc. has increased its stake in the business services provider by 352 shares, bringing its total holdings to 1,597, currently valued at $74,000. This brings the total value of IFP Advisors Inc.’s holdings to $74,000. And finally, but certainly not least, during the second quarter, Captrust Financial Advisors increased the amount of PRA Group stock that it held by 15.3%, making it the last point on this list. After making an additional purchase of 317 shares during the relevant period, Captrust Financial Advisors now has 2,387 of the business services provider’s shares worth $87,000. This brings the firm’s total number of shares to 2,387.
As a provider of both financial and commercial services, PRA Group, Inc. is accountable for purchasing, collecting, and managing nonperforming loan portfolios on three continents, namely the Americas, Australia, and Europe. This is accomplished through purchasing customer accounts, the majority of which are delinquent bills owed by customers to credit originators such as banks and another consumer, retail, and auto finance companies.