PRA Group (NASDAQ:PRAA) Stock Price Crosses Above Two Hundred Day Moving Average – What’s Next?

Shares of PRA Group, Inc. (NASDAQ:PRAA) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $16.52 and traded as high as $17.92. PRA Group shares last traded at $17.51, with a volume of 431,256 shares.

Analysts Set New Price Targets

Several research firms have recently weighed in on PRAA. Wall Street Zen downgraded PRA Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a research note on Wednesday, June 24th. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $25.00.

PRA Group Trading Up 1.2%

The stock has a market cap of $705.21 million, a price-to-earnings ratio of -2.58 and a beta of 1.10. The stock’s 50 day moving average is $16.64 and its two-hundred day moving average is $16.54.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Thursday, May 7th. The business services provider reported $0.73 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.22. PRA Group had a negative net margin of 22.51% and a positive return on equity of 13.19%. The company had revenue of $314.53 million for the quarter, compared to analyst estimates of $295.90 million. On average, sell-side analysts predict that PRA Group, Inc. will post 2.52 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Los Angeles Capital Management LLC acquired a new position in shares of PRA Group in the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC lifted its holdings in shares of PRA Group by 145.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider’s stock worth $44,000 after purchasing an additional 1,471 shares during the period. Larson Financial Group LLC lifted its holdings in shares of PRA Group by 146.8% during the fourth quarter. Larson Financial Group LLC now owns 2,848 shares of the business services provider’s stock worth $50,000 after purchasing an additional 1,694 shares during the period. Tower Research Capital LLC TRC grew its position 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 last quarter. Finally, Globeflex Capital L P purchased a new position in PRA Group in the 2nd quarter valued at $102,000. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

PRA Group Company Profile

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.