Zacks Investment Research upgraded shares of Pra Group (NASDAQ:PRAA) from a strong sell rating to a hold rating in a research note issued to investors on Tuesday morning.
According to Zacks, “PRA Group’s shares have gained comparing favorably with its industry’s loss in a year’s time. Moreover, it witnessed its 2018 earnings estimates move upward over the last 30 days. A growing receivable income and several strategic acquisitions plus alliances position the company well for long-term growth. PRA Group’s financial health also impresses. Its solid liquidity ensures its debt servicing capacity. Moreover, cash collections are likely to improve going forward. However, the company’s rising expenses due to increasing compensation and employee services plus communications expenses continue to weigh on its bottom line. Rise in borrowing costs and increase in leverage have resulted in high interest expenses that has also been putting pressure on its profitability.”
A number of other brokerages also recently weighed in on PRAA. ValuEngine upgraded Pra Group from a hold rating to a buy rating in a research note on Thursday, July 5th. BidaskClub downgraded Pra Group from a buy rating to a hold rating in a research note on Tuesday, October 2nd. Oppenheimer reiterated a hold rating on shares of Pra Group in a research note on Thursday, August 9th. Finally, Keefe, Bruyette & Woods set a $35.00 price objective on Pra Group and gave the company a hold rating in a research note on Thursday, August 9th. Seven analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $35.00.
Shares of NASDAQ PRAA opened at $32.56 on Tuesday. Pra Group has a twelve month low of $26.85 and a twelve month high of $43.75. The company has a market capitalization of $1.63 billion, a PE ratio of 24.48 and a beta of 1.52.
Pra Group (NASDAQ:PRAA) last announced its earnings results on Tuesday, August 7th. The business services provider reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Pra Group had a return on equity of 6.41% and a net margin of 16.81%. The firm had revenue of $221.52 million for the quarter, compared to the consensus estimate of $214.17 million. As a group, research analysts forecast that Pra Group will post 1.61 earnings per share for the current fiscal year.
In related news, SVP Christopher D. Lagow sold 1,405 shares of the company’s stock in a transaction that occurred on Friday, August 31st. The stock was sold at an average price of $36.05, for a total value of $50,650.25. Following the transaction, the senior vice president now owns 19,747 shares in the company, valued at $711,879.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Christopher D. Lagow sold 1,555 shares of the company’s stock in a transaction that occurred on Thursday, September 27th. The shares were sold at an average price of $36.45, for a total value of $56,679.75. Following the completion of the transaction, the senior vice president now owns 16,718 shares in the company, valued at approximately $609,371.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 296,914 shares of company stock worth $11,258,102. 2.34% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of PRAA. Barrow Hanley Mewhinney & Strauss LLC lifted its stake in Pra Group by 166.0% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 1,621,684 shares of the business services provider’s stock valued at $61,624,000 after purchasing an additional 1,012,000 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Pra Group by 7.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,546,159 shares of the business services provider’s stock valued at $98,155,000 after purchasing an additional 180,276 shares during the last quarter. Stephens Investment Management Group LLC lifted its stake in Pra Group by 22.9% in the second quarter. Stephens Investment Management Group LLC now owns 887,523 shares of the business services provider’s stock valued at $34,436,000 after purchasing an additional 165,269 shares during the last quarter. WINTON GROUP Ltd purchased a new position in Pra Group in the first quarter valued at approximately $6,212,000. Finally, Millennium Management LLC lifted its stake in Pra Group by 48.7% in the first quarter. Millennium Management LLC now owns 458,613 shares of the business services provider’s stock valued at $17,427,000 after purchasing an additional 150,243 shares during the last quarter.
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 in the Americas and Europe. It is involved in the acquisition of accounts that are primarily the unpaid obligations of individuals owed to credit grantors, which include banks and other types of consumer, retail, and auto finance companies.
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