PRA Group (NASDAQ:PRAA) Stock Price Expected to Rise, Truist Financial Analyst Says

PRA Group (NASDAQ:PRAA) had its price target raised by investment analysts at Truist Financial from $28.00 to $31.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the business services provider’s stock. Truist Financial’s price target would suggest a potential upside of 30.20% from the stock’s current price.

Separately, StockNews.com raised PRA Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th.

PRA Group Trading Up 15.8 %

PRA Group stock traded up $3.25 during midday trading on Tuesday, reaching $23.81. The company’s stock had a trading volume of 197,685 shares, compared to its average volume of 204,239. The stock has a market cap of $938.59 million, a PE ratio of 238.52 and a beta of 1.50. PRA Group has a 52 week low of $13.64 and a 52 week high of $31.43. The business has a 50-day moving average price of $21.34 and a 200-day moving average price of $22.03.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings data on Monday, November 4th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.37. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. The business had revenue of $281.48 million during the quarter, compared to analysts’ expectations of $262.20 million. During the same period in the prior year, the company earned ($0.31) EPS. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. As a group, research analysts predict that PRA Group will post 1.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Geir Olsen purchased 11,750 shares of the firm’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $21.39 per share, with a total value of $251,332.50. Following the completion of the purchase, the director now owns 11,750 shares in the company, valued at approximately $251,332.50. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.00% of the company’s stock.

Institutional Investors Weigh In On PRA Group

Institutional investors have recently modified their holdings of the company. Wolverine Asset Management LLC bought a new stake in PRA Group during the third quarter valued at $419,000. Pinnacle Associates Ltd. boosted its position in shares of PRA Group by 86.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 297,545 shares of the business services provider’s stock valued at $6,653,000 after purchasing an additional 137,799 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of PRA Group by 14.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 222,817 shares of the business services provider’s stock valued at $4,982,000 after purchasing an additional 28,582 shares in the last quarter. nVerses Capital LLC grew its stake in PRA Group by 168.8% during the third quarter. nVerses Capital LLC now owns 4,300 shares of the business services provider’s stock worth $96,000 after purchasing an additional 2,700 shares during the period. Finally, SG Americas Securities LLC increased its holdings in PRA Group by 101.8% in the third quarter. SG Americas Securities LLC now owns 22,754 shares of the business services provider’s stock worth $509,000 after purchasing an additional 11,481 shares in the last quarter. 97.22% of the stock is owned by 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.