PRA Group (NASDAQ:PRAA) Stock Price Down 7.7% – Here’s What Happened

PRA Group, Inc. (NASDAQ:PRAA)’s stock price dropped 7.7% during mid-day trading on Monday . The company traded as low as $14.97 and last traded at $14.7830. Approximately 64,173 shares were traded during trading, a decline of 87% from the average daily volume of 499,185 shares. The stock had previously closed at $16.01.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PRAA. Wall Street Zen downgraded PRA Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a report on Friday, March 27th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $25.00.

PRA Group Price Performance

The stock has a 50-day moving average of $17.90 and a 200 day moving average of $16.47. The company has a market cap of $567.29 million, a P/E ratio of -2.08 and a beta of 1.15.

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

Hedge Funds Weigh In On PRA Group

Several institutional investors have recently made changes to their positions in the company. Los Angeles Capital Management LLC bought a new stake in PRA Group during the fourth quarter valued at about $27,000. EverSource Wealth Advisors LLC raised its position in shares of PRA Group by 145.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 1,471 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of PRA Group by 146.8% in the fourth quarter. Larson Financial Group LLC now owns 2,848 shares of the business services provider’s stock valued at $50,000 after buying an additional 1,694 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of PRA Group by 375.1% in the second 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 in the last quarter. Finally, Globeflex Capital L P purchased a new stake in shares of PRA Group in the second quarter valued at $102,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

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.