PRA Group (NASDAQ: PRAA) saw its price target bolstered by analysts at JMP Securities from $ 47.00 to $ 60.00 in a research note released Tuesday, The Fly reports. The brokerage currently has an âoutperformâ rating on the shares of the business service provider. JMP Securities’ price target points to a potential rise of 29.59% from the company’s previous close.
PRAA opened at $ 46.30 on Tuesday. The company has a market cap of $ 2.12 billion, a P / E ratio of 11.40 and a beta of 1.34. The stock’s 50-day moving average price is $ 42.26, and its two-hundred-day moving average price is $ 40.07. PRA Group has a 12-month low of $ 32.78 and a 12-month high of $ 47.23.
PRA Group (NASDAQ: PRAA) last released its results on Monday, November 8. The business services provider reported earnings per share (EPS) of $ 0.76 for the quarter, missing Zacks’ consensus estimate of $ 0.81 ($ 0.05). The company posted revenue of $ 263.70 million in the quarter, compared to analysts’ estimates of $ 256.09 million. PRA Group had a net margin of 16.72% and a return on equity of 13.52%. The company’s quarterly revenue is down 1.6% from the same quarter last year. During the same period last year, the company generated EPS of $ 0.92. As a group, equity research analysts expect PRA Group to post 4.01 EPS for the current year.
Meanwhile, CFO Peter M. Graham sold 1,685 shares of the company in a trade on Monday, November 1. The stock was sold for an average price of $ 43.26, for a total value of $ 72,893.10. The sale was disclosed in a document filed with the SEC, accessible through this link. In addition, CFO Peter M. Graham sold 1,000 shares of PRA Group in a transaction on Wednesday, September 1. The shares were sold at an average price of $ 42.00, for a total value of $ 42,000.00. Disclosure of this sale can be found here. Insiders have sold a total of 49,662 shares of the company valued at $ 2,152,787 in the past three months. 1.75% of the capital is held by insiders.
A number of institutional investors and hedge funds have recently changed their holdings in the company. Summit Global Investments purchased a new position in PRA Group in Q3 valued at $ 830,000. The Swiss National Bank increased its position in PRA Group by 0.7% in the third quarter. The Swiss National Bank now owns 101,200 shares of the business services provider valued at $ 4,265,000 after purchasing an additional 700 shares in the last quarter. Victory Capital Management Inc. increased its position in PRA Group by 3.2% in the 3rd quarter. Victory Capital Management Inc. now owns 1,359,455 shares of the business services provider valued at $ 57,288,000 after purchasing an additional 42,433 shares in the last quarter. SG Americas Securities LLC purchased a new position in PRA Group in the 3rd quarter valued at $ 486,000. Finally, Nordea Investment Management AB strengthened its position in PRA Group by 97.8% in the 3rd quarter. Nordea Investment Management AB now owns 2,200,830 shares of the business services provider valued at $ 94,944,000 after purchasing an additional 1,088,315 shares in the last quarter.
PRA Group Company Profile
PRA Group, Inc engages in the purchase, collection and management of portfolios of nonperforming loans. The company buys portfolios of nonperforming loans at a discount in two broad categories: Core and Insolvency. She also provides paid services for class action collection and managing consumer bankruptcy accounts in the United States.
Read more: Current ratio
This instant news alert was powered by storytelling technology and MarketBeat financial data to provide readers with the fastest, most accurate reports. This story was reviewed by the MarketBeat editorial team prior to publication. Please send any questions or comments about this story to [emailÂ protected]
Should you invest $ 1,000 in PRA Group now?
Before you consider PRA Group, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated and top-performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts quietly whisper to their clients to buy now before the larger market takes hold … and PRA Group was not on the list.
While PRA Group currently has an âN / Aâ rating among analysts, top-rated analysts believe these five stocks are better bets.
See the 5 actions here