Pra Group (NASDAQ:PRAA) posted its quarterly earnings data on Thursday. The business services provider reported $0.22 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.13), Briefing.com reports. The firm had revenue of $225.90 million for the quarter, compared to analyst estimates of $223.81 million. Pra Group had a return on equity of 6.41% and a net margin of 16.81%. The firm’s quarterly revenue was up 10.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share.
PRAA traded down $3.61 on Friday, hitting $28.19. 1,689,997 shares of the company were exchanged, compared to its average volume of 299,841. Pra Group has a 12 month low of $26.95 and a 12 month high of $43.75. The firm has a market capitalization of $1.44 billion, a PE ratio of 21.20 and a beta of 1.60.
In related news, Director Geir Olsen sold 48,725 shares of the company’s stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $38.62, for a total transaction of $1,881,759.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Christopher D. Lagow sold 1,555 shares of the company’s stock in a transaction dated Thursday, September 27th. The stock was sold at an average price of $36.45, for a total value of $56,679.75. Following the sale, 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. Insiders have sold 289,414 shares of company stock worth $10,935,452 in the last quarter. 2.34% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRAA. PNC Financial Services Group Inc. raised its holdings in Pra Group by 66.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,495,768 shares of the business services provider’s stock worth $53,848,000 after acquiring an additional 596,684 shares in the last quarter. Dimensional Fund Advisors LP raised 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 buying an additional 180,276 shares during the period. Stephens Investment Management Group LLC raised 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 buying an additional 165,269 shares during the period. Renaissance Technologies LLC bought a new stake in Pra Group in the second quarter valued at approximately $4,121,000. Finally, Massachusetts Financial Services Co. MA raised its stake in Pra Group by 40.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 360,650 shares of the business services provider’s stock valued at $12,983,000 after buying an additional 104,239 shares during the period.
Several research firms have recently weighed in on PRAA. BidaskClub cut Pra Group from a “buy” rating to a “hold” rating in a research report on Wednesday, August 1st. Oppenheimer reaffirmed a “hold” rating on shares of Pra Group in a research report on Friday. ValuEngine cut Pra Group from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Keefe, Bruyette & Woods set a $35.00 price objective on Pra Group and gave the stock a “hold” rating in a research report on Thursday, August 9th. Finally, Zacks Investment Research raised Pra Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 9th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Pra Group presently has an average rating of “Hold” and an average target price of $35.00.
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About Pra Group
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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