PRA Group (NASDAQ:PRAA) Stock Price Up 2.9%

PRA Group, Inc. (NASDAQ:PRAA - Get Free Report)'s stock price was up 2.9% on Wednesday . The company traded as high as $23.25 and last traded at $23.18. Approximately 22,704 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 196,766 shares. The stock had previously closed at $22.53.

Analysts Set New Price Targets

A number of analysts have weighed in on PRAA shares. Truist Financial lowered their price target on PRA Group from $42.00 to $28.00 and set a "buy" rating on the stock in a research report on Tuesday, August 20th. JMP Securities reiterated a "market outperform" rating and issued a $33.00 price target on shares of PRA Group in a research report on Tuesday, May 7th. Finally, StockNews.com upgraded PRA Group from a "hold" rating to a "buy" rating in a research report on Wednesday, August 7th.

PRA Group Price Performance

The company has a market cap of $905.49 million, a price-to-earnings ratio of -42.61 and a beta of 1.48. The business has a 50 day simple moving average of $22.05 and a 200 day simple moving average of $23.30.

PRA Group (NASDAQ:PRAA - Get Free Report) last posted its quarterly earnings data on Monday, August 5th. The business services provider reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.08 by $0.46. The company had revenue of $284.20 million for the quarter, compared to analyst estimates of $245.04 million. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The business's revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.10) earnings per share. As a group, sell-side analysts anticipate that PRA Group, Inc. will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PRA Group news, Director Geir Olsen acquired 11,750 shares of PRA Group stock in a transaction on Wednesday, August 7th. The shares were 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 $251,332.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company's stock.

Hedge Funds Weigh In On PRA Group

Large investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake 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 acquiring an additional 77,819 shares during the period. Global Alpha Capital Management Ltd. lifted its stake in shares of PRA Group by 5.4% during the first quarter. Global Alpha Capital Management Ltd. now owns 1,708,015 shares of the business services provider's stock valued at $44,545,000 after acquiring an additional 86,800 shares during the period. Wilbanks Smith & Thomas Asset Management LLC lifted its stake in shares of PRA Group by 192.2% during the fourth quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 293,583 shares of the business services provider's stock valued at $7,692,000 after acquiring an additional 193,117 shares during the period. Redwood Investment Management LLC acquired a new position in shares of PRA Group during the fourth quarter valued at $3,268,000. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of PRA Group by 389.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 53,977 shares of the business services provider's stock valued at $1,408,000 after acquiring an additional 42,950 shares during the period. Institutional investors and hedge funds own 97.22% of the company's stock.

About PRA Group

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.