PRA Group (NASDAQ:PRAA) Shares Down 5.4% Following Analyst Downgrade

PRA Group, Inc. (NASDAQ:PRAA - Get Free Report)'s share price was down 5.4% during mid-day trading on Tuesday after Truist Financial lowered their price target on the stock from $42.00 to $28.00. Truist Financial currently has a buy rating on the stock. PRA Group traded as low as $22.16 and last traded at $22.23. Approximately 55,407 shares were traded during trading, a decline of 72% from the average daily volume of 200,307 shares. The stock had previously closed at $23.50.

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

Insider Activity at PRA Group

In related news, Director Geir Olsen purchased 11,750 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were purchased at an average price of $21.39 per share, for a total transaction of $251,332.50. Following the transaction, the director now directly owns 11,750 shares of the company's stock, valued at approximately $251,332.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of PRA Group by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,743,076 shares of the business services provider's stock worth $34,268,000 after buying an additional 20,519 shares in the last quarter. Global Alpha Capital Management Ltd. increased its position in 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 worth $44,545,000 after buying an additional 86,800 shares in the last quarter. William Blair Investment Management LLC raised its holdings in shares of PRA Group by 0.3% in the first quarter. William Blair Investment Management LLC now owns 1,061,093 shares of the business services provider's stock worth $27,673,000 after acquiring an additional 2,864 shares during the last quarter. Charles Schwab Investment Management Inc. boosted 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 last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC boosted 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 last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

PRA Group Stock Performance

The stock has a market cap of $862.60 million, a PE ratio of -42.00 and a beta of 1.48. The business has a 50-day moving average of $21.70 and a 200 day moving average of $23.34.

PRA Group (NASDAQ:PRAA - Get Free Report) last released its earnings results 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 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 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. Equities analysts expect that PRA Group, Inc. will post 1.33 EPS for the current fiscal year.

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.