PRA Group (NASDAQ:PRAA) Sets New 1-Year Low – What’s Next?

Shares of PRA Group, Inc. (NASDAQ:PRAA) reached a new 52-week low on Tuesday . The stock traded as low as $11.75 and last traded at $11.99, with a volume of 717041 shares traded. The stock had previously closed at $12.87.

Analyst Upgrades and Downgrades

PRAA has been the topic of several recent analyst reports. Truist Financial dropped their price target on shares of PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a report on Monday, December 29th. Citizens Jmp lowered shares of PRA Group from a “market outperform” rating to a “market perform” rating in a research note on Wednesday, January 28th. Citigroup cut shares of PRA Group from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 28th. Finally, Zacks Research downgraded shares of PRA Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Two analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $25.00.

PRA Group Stock Performance

The firm’s 50-day moving average is $16.54 and its 200 day moving average is $15.92. The stock has a market cap of $467.73 million, a PE ratio of -1.36 and a beta of 1.29.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Monday, November 3rd. The business services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. The company had revenue of $247.08 million for the quarter, compared to the consensus estimate of $295.77 million. PRA Group had a negative net margin of 29.55% and a positive return on equity of 7.03%. On average, sell-side analysts predict that PRA Group, Inc. will post 2.1 EPS for the current fiscal year.

Insider Buying and Selling at PRA Group

In related news, Director Geir Olsen purchased 15,000 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were purchased at an average price of $14.15 per share, with a total value of $212,250.00. Following the completion of the acquisition, the director directly owned 58,933 shares in the company, valued at $833,901.95. This represents a 34.14% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Institutional Trading of PRA Group

A number of hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC increased its holdings in shares of PRA Group by 301.0% in the third quarter. GAMMA Investing LLC now owns 1,684 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,264 shares during the period. CWM LLC grew its position in PRA Group by 140.0% in the 3rd quarter. CWM LLC now owns 4,618 shares of the business services provider’s stock valued at $71,000 after buying an additional 2,694 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in PRA Group by 375.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider’s stock valued at $71,000 after buying an additional 3,777 shares during the period. Advent Capital Management DE acquired a new position in PRA Group in the 2nd quarter valued at $84,000. Finally, Globeflex Capital L P purchased a new position in PRA Group during the 2nd quarter worth $102,000. 97.22% of the stock is owned by institutional investors and hedge funds.

About PRA Group

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.