PRA Group (NASDAQ:PRAA) Cut to “Market Perform” at Citizens Jmp

Citizens Jmp downgraded shares of PRA Group (NASDAQ:PRAA) from a market outperform rating to a market perform rating in a research note published on Wednesday, MarketBeat Ratings reports.

PRAA has been the topic of several other reports. Citigroup lowered shares of PRA Group from an “outperform” rating to a “market perform” rating in a report on Wednesday. Zacks Research downgraded PRA Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Weiss Ratings reiterated a “sell (d)” rating on shares of PRA Group in a report on Monday, December 29th. Finally, Truist Financial lowered their price target on PRA Group from $33.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Two investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, PRA Group currently has an average rating of “Hold” and an average target price of $25.00.

PRA Group Stock Performance

Shares of PRAA opened at $12.79 on Wednesday. The stock has a market cap of $498.94 million, a P/E ratio of -1.46 and a beta of 1.33. PRA Group has a 1 year low of $12.29 and a 1 year high of $23.97. The stock’s 50-day moving average price is $16.66 and its two-hundred day moving average price is $15.96.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, November 3rd. The business services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. PRA Group had a negative net margin of 29.55% and a positive return on equity of 7.03%. The business had revenue of $247.08 million for the quarter, compared to the consensus estimate of $295.77 million. As a group, equities analysts forecast that PRA Group will post 2.1 EPS for the current year.

Insiders Place Their Bets

In related news, Director Geir Olsen bought 15,000 shares of PRA Group stock in a transaction that occurred on Thursday, November 6th. The stock was purchased at an average cost of $14.15 per share, with a total value of $212,250.00. Following the purchase, the director owned 58,933 shares in the company, valued at approximately $833,901.95. This trade represents a 34.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PRAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PRA Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider’s stock worth $476,000 after buying an additional 1,020 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in PRA Group by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,004 shares of the business services provider’s stock worth $2,248,000 after acquiring an additional 4,010 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in PRA Group by 2,650.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 43,708 shares of the business services provider’s stock worth $645,000 after acquiring an additional 42,119 shares during the last quarter. State of Alaska Department of Revenue grew its stake in shares of PRA Group by 8.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 23,622 shares of the business services provider’s stock worth $347,000 after acquiring an additional 1,775 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of PRA Group by 34.0% in the second quarter. US Bancorp DE now owns 39,556 shares of the business services provider’s stock valued at $583,000 after purchasing an additional 10,036 shares during the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

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.