PRA Group (NASDAQ:PRAA) Stock Rating Upgraded by StockNews.com

PRA Group (NASDAQ:PRAA) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Wednesday.

Separately, JMP Securities reiterated a “market outperform” rating and set a $33.00 price target on shares of PRA Group in a report on Tuesday, May 7th.

PRA Group Stock Up 4.3 %

NASDAQ:PRAA traded up $0.92 during midday trading on Wednesday, hitting $22.10. The company had a trading volume of 308,486 shares, compared to its average volume of 202,245. The company has a market capitalization of $869.68 million, a PE ratio of -40.93 and a beta of 1.48. PRA Group has a 52-week low of $11.85 and a 52-week high of $31.43. The stock’s fifty day moving average price is $21.36 and its 200-day moving average price is $23.43.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Monday, August 5th. The business services provider reported $0.54 EPS for the quarter, beating the consensus estimate of $0.08 by $0.46. The firm had revenue of $284.20 million for the quarter, compared to analyst estimates of $245.04 million. PRA Group had a negative return on equity of 1.76% and a negative net margin of 2.37%. The company’s revenue was up 35.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.10) EPS. As a group, research analysts forecast that PRA Group will post 0.7 earnings per share for the current year.

Institutional Investors Weigh In On PRA Group

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of PRA Group by 90.5% in the fourth quarter. CWM LLC now owns 1,189 shares of the business services provider’s stock worth $31,000 after acquiring an additional 565 shares during the last quarter. nVerses Capital LLC raised its position in PRA Group by 700.0% in the second quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,400 shares during the period. Innealta Capital LLC purchased a new position in PRA Group during the second quarter valued at $57,000. PNC Financial Services Group Inc. grew its stake in shares of PRA Group by 11.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock valued at $103,000 after acquiring an additional 419 shares during the period. Finally, SG Americas Securities LLC purchased a new stake in PRA Group in the 1st quarter worth approximately $103,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

PRA Group Company Profile

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.