PRA Group, Inc. (NASDAQ:PRAA) Stock Has Average Price Target of $26.00 According to Analysts

PRA Group, Inc. (NASDAQ:PRAA) has been given a consensus recommendation of “Hold” by the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have issued a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $26.00.

Several equities analysts have recently issued reports on PRAA shares. Zacks Research upgraded PRA Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Wall Street Zen upgraded shares of PRA Group from a “buy” rating to a “strong-buy” rating in a research note on Saturday, September 26th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a report on Monday, September 21st.

Institutional Investors Weigh In On PRA Group

Several institutional investors have recently modified their holdings of PRAA. BlackRock Inc. purchased a new position in shares of PRA Group in the 2nd quarter valued at about $84,183,000. Wellington Management Group LLP lifted its position in shares of PRA Group by 10.3% during the 2nd quarter. Wellington Management Group LLP now owns 827,720 shares of the business services provider’s stock worth $15,718,000 after buying an additional 77,188 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of PRA Group by 401.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock valued at $11,421,000 after buying an additional 481,538 shares in the last quarter. Invenomic Capital Management LP boosted its holdings in shares of PRA Group by 2.9% in the 4th quarter. Invenomic Capital Management LP now owns 427,376 shares of the business services provider’s stock valued at $7,560,000 after buying an additional 11,895 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its holdings in shares of PRA Group by 288.0% in the 2nd quarter. Susquehanna International Group LLP now owns 200,848 shares of the business services provider’s stock valued at $3,814,000 after buying an additional 149,078 shares in the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

PRA Group Trading Down 3.2%

Shares of NASDAQ PRAA opened at $18.86 on Tuesday. The stock has a market cap of $710.08 million, a P/E ratio of -2.80 and a beta of 1.13. The business’s fifty day simple moving average is $19.16 and its 200-day simple moving average is $18.16. PRA Group has a 12-month low of $10.25 and a 12-month high of $22.55.

PRA Group (NASDAQ:PRAA) last released its earnings results on Thursday, August 6th. The business services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $0.52 by $0.99. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%.The firm had revenue of $372.17 million during the quarter, compared to analysts’ expectations of $299.99 million. On average, equities analysts forecast that PRA Group will post 3.93 EPS for the current fiscal year.

PRA Group Company Profile

PRA Group, Inc is a global financial services company that purchases portfolios of accounts receivable from banks, credit unions, consumer finance companies and other creditors. These portfolios generally consist of nonperforming or distressed consumer accounts, including unpaid credit card balances, personal loans and other forms of unsecured debt.

After acquiring receivables, PRA Group works directly with consumers to establish repayment arrangements and resolve outstanding obligations.