Key Points
- Director Geir Olsen purchased 15,000 shares of PRA Group on November 6 at an average price of $14.15, increasing his holding by 34.14% to 58,933 shares valued at about $833,902.
- PRA Group beat EPS estimates with $0.53 reported for the quarter (vs. $0.50 expected) but missed on revenue; the stock rose ~3.5%, trades at a low P/E of 6.55, and carries a MarketBeat consensus rating of “Moderate Buy” with an average target of $25.00.
PRA Group, Inc. (NASDAQ:PRAA - Get Free Report) Director Geir Olsen purchased 15,000 shares of PRA Group stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average cost of $14.15 per share, for a total transaction of $212,250.00. Following the completion of the transaction, the director directly owned 58,933 shares in the company, valued at $833,901.95. This represents a 34.14% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this link.
PRA Group Stock Up 3.5%
Shares of NASDAQ:PRAA opened at $15.25 on Tuesday. The company has a market capitalization of $595.88 million, a price-to-earnings ratio of 6.55 and a beta of 1.41. The company has a 50 day moving average of $15.18 and a two-hundred day moving average of $15.41. PRA Group, Inc. has a 52-week low of $12.29 and a 52-week high of $24.69.
PRA Group (NASDAQ:PRAA - Get Free Report) last posted its earnings results on Monday, November 3rd. The business services provider reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.03. The business had revenue of $247.08 million for the quarter, compared to analysts' expectations of $295.77 million. PRA Group had a net margin of 8.10% and a return on equity of 6.52%. On average, equities analysts anticipate that PRA Group, Inc. will post 2.1 earnings per share for the current year.
Hedge Funds Weigh In On PRA Group
Hedge funds have recently bought and sold shares of the company. AXQ Capital LP bought a new stake in PRA Group in the third quarter valued at about $185,000. Bleakley Financial Group LLC acquired a new position in shares of PRA Group in the 3rd quarter worth approximately $205,000. Public Sector Pension Investment Board increased its holdings in shares of PRA Group by 12.7% in the 3rd quarter. Public Sector Pension Investment Board now owns 152,412 shares of the business services provider's stock valued at $2,353,000 after acquiring an additional 17,200 shares during the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of PRA Group by 6.4% in the 3rd quarter. Illinois Municipal Retirement Fund now owns 21,489 shares of the business services provider's stock valued at $332,000 after acquiring an additional 1,297 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of PRA Group by 2.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 122,175 shares of the business services provider's stock valued at $1,886,000 after acquiring an additional 3,432 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
PRAA has been the subject of a number of analyst reports. Citigroup reissued an "outperform" rating on shares of PRA Group in a research report on Tuesday, August 5th. Weiss Ratings reiterated a "sell (d+)" rating on shares of PRA Group in a research note on Wednesday, October 8th. Zacks Research raised PRA Group from a "hold" rating to a "strong-buy" rating in a report on Thursday, November 6th. Wall Street Zen upgraded PRA Group from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, JMP Securities set a $24.00 target price on PRA Group and gave the company a "market outperform" rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, PRA Group has a consensus rating of "Moderate Buy" and an average target price of $25.00.
Check Out Our Latest Analysis on PRAA
About PRA Group
(
Get Free Report)
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.
Read More
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
