PRA Group (NASDAQ:PRAA) PT Lowered to $28.00 at Truist Financial

PRA Group (NASDAQ:PRAA - Get Free Report) had its target price reduced by equities research analysts at Truist Financial from $42.00 to $28.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a "buy" rating on the business services provider's stock. Truist Financial's target price points to a potential upside of 27.74% from the company's current price.

PRAA has been the topic of several other reports. JMP Securities reissued a "market outperform" rating and set a $33.00 target price on shares of PRA Group in a research note on Tuesday, May 7th. StockNews.com upgraded shares of PRA Group from a "hold" rating to a "buy" rating in a report on Wednesday, August 7th.

PRA Group Stock Down 6.7 %

Shares of PRA Group stock traded down $1.58 on Tuesday, hitting $21.92. The stock had a trading volume of 111,706 shares, compared to its average volume of 200,674. PRA Group has a one year low of $11.85 and a one year high of $31.43. The stock's 50-day simple moving average is $21.70 and its two-hundred day simple moving average is $23.34. The stock has a market cap of $862.60 million, a price-to-earnings ratio of -42.00 and a beta of 1.48.

PRA Group (NASDAQ:PRAA - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $245.04 million. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. The company's quarterly revenue was up 35.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.10) earnings per share. As a group, equities analysts predict that PRA Group will post 1.33 EPS for the current fiscal year.

Insider Activity

In other PRA Group news, Director Geir Olsen acquired 11,750 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired 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 directly owns 11,750 shares of the company's stock, valued at approximately $251,332.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On PRA Group

Several large investors have recently modified their holdings of the stock. Global Alpha Capital Management Ltd. lifted its stake in shares of PRA Group by 17.2% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,621,215 shares of the business services provider's stock worth $42,476,000 after buying an additional 237,800 shares in the last quarter. Wilbanks Smith & Thomas Asset Management LLC increased its holdings in shares of PRA Group by 192.2% in the 4th quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 293,583 shares of the business services provider's stock worth $7,692,000 after purchasing an additional 193,117 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of PRA Group by 353.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 194,235 shares of the business services provider's stock worth $3,819,000 after purchasing an additional 151,389 shares in the last quarter. Redwood Investment Management LLC purchased a new position in shares of PRA Group in the fourth quarter worth $3,268,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of PRA Group by 13.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 666,396 shares of the business services provider's stock valued at $17,460,000 after purchasing an additional 77,819 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company's stock.

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.