PRA Group (NASDAQ:PRAA) Stock Price Up 6%

Shares of PRA Group, Inc. (NASDAQ:PRAA) were up 6% on Tuesday . The company traded as high as $22.29 and last traded at $22.11. Approximately 32,463 shares were traded during trading, a decline of 83% from the average daily volume of 193,284 shares. The stock had previously closed at $20.86.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on PRAA shares. StockNews.com raised shares of PRA Group from a “hold” rating to a “buy” rating in a report on Tuesday. Truist Financial reduced their price objective on shares of PRA Group from $42.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th.

PRA Group Trading Up 3.2 %

The firm has a market cap of $906.66 million, a PE ratio of -41.26 and a beta of 1.49. The business has a fifty day moving average price of $22.65 and a 200 day moving average price of $22.89.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.08 by $0.46. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. The company had revenue of $284.20 million for the quarter, compared to analyst estimates of $245.04 million. During the same period in the prior year, the firm posted ($0.10) earnings per share. The firm’s revenue was up 35.9% on a year-over-year basis. On average, research analysts expect that PRA Group, Inc. will post 1.33 earnings per share for the current fiscal year.

Insider Activity at PRA Group

In related news, Director Geir Olsen acquired 11,750 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $21.39 per share, for a total transaction of $251,332.50. Following the completion of the purchase, the director now directly owns 11,750 shares of the company’s stock, valued at approximately $251,332.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On PRA Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRAA. Charles Schwab Investment Management Inc. increased its holdings in shares of PRA Group by 13.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 666,396 shares of the business services provider’s stock valued at $17,460,000 after acquiring an additional 77,819 shares during the period. Global Alpha Capital Management Ltd. increased its stake in PRA Group by 5.4% in the first quarter. Global Alpha Capital Management Ltd. now owns 1,708,015 shares of the business services provider’s stock valued at $44,545,000 after purchasing an additional 86,800 shares during the period. Redwood Investment Management LLC purchased a new stake in shares of PRA Group in the fourth quarter valued at about $3,268,000. State Board of Administration of Florida Retirement System boosted its stake in shares of PRA Group by 389.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 53,977 shares of the business services provider’s stock worth $1,408,000 after buying an additional 42,950 shares during the period. Finally, ClariVest Asset Management LLC purchased a new position in shares of PRA Group during the second quarter worth about $1,343,000. 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.