BidaskClub Upgrades Pra Group (NASDAQ:PRAA) to “Buy”

BidaskClub upgraded shares of Pra Group (NASDAQ:PRAA) from a hold rating to a buy rating in a report issued on Wednesday, BidAskClub reports.

A number of other brokerages have also commented on PRAA. Buckingham Research upped their price objective on shares of Pra Group from $30.00 to $32.00 and gave the company a neutral rating in a research report on Friday, August 9th. ValuEngine lowered shares of Pra Group from a buy rating to a hold rating in a research report on Tuesday, October 1st.

Shares of Pra Group stock traded up $0.04 on Wednesday, hitting $36.43. 157,600 shares of the company traded hands, compared to its average volume of 206,427. The company has a 50-day moving average price of $34.26 and a 200 day moving average price of $31.42. The company has a market cap of $1.65 billion, a PE ratio of 25.30, a PEG ratio of 0.55 and a beta of 1.56. The company has a quick ratio of 1.20, a current ratio of 1.22 and a debt-to-equity ratio of 0.06. Pra Group has a 12-month low of $22.62 and a 12-month high of $37.32.

Pra Group (NASDAQ:PRAA) last announced its quarterly earnings data on Thursday, November 7th. The business services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.09. The business had revenue of $250.01 million during the quarter, compared to analyst estimates of $256.18 million. Pra Group had a net margin of 7.49% and a return on equity of 6.49%. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.22 earnings per share. Equities research analysts anticipate that Pra Group will post 1.8 EPS for the current year.

In other news, EVP Christopher B. Graves sold 2,500 shares of the company’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $35.06, for a total transaction of $87,650.00. Following the completion of the transaction, the executive vice president now owns 74,180 shares of the company’s stock, valued at $2,600,750.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.68% of the stock is currently owned by corporate insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Synovus Financial Corp increased its stake in Pra Group by 1.3% in the third quarter. Synovus Financial Corp now owns 31,747 shares of the business services provider’s stock valued at $1,069,000 after acquiring an additional 401 shares during the period. Marshall Wace North America L.P. increased its stake in Pra Group by 32.9% in the first quarter. Marshall Wace North America L.P. now owns 1,655 shares of the business services provider’s stock valued at $44,000 after acquiring an additional 410 shares during the period. Arizona State Retirement System increased its stake in Pra Group by 0.7% in the second quarter. Arizona State Retirement System now owns 70,400 shares of the business services provider’s stock valued at $1,981,000 after acquiring an additional 514 shares during the period. Oppenheimer Asset Management Inc. increased its stake in Pra Group by 1.1% in the second quarter. Oppenheimer Asset Management Inc. now owns 49,309 shares of the business services provider’s stock valued at $1,387,000 after acquiring an additional 541 shares during the period. Finally, First Mercantile Trust Co. increased its stake in Pra Group by 9.2% in the third quarter. First Mercantile Trust Co. now owns 6,482 shares of the business services provider’s stock valued at $219,000 after acquiring an additional 545 shares during the period.

About Pra Group

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

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