PRA Group (NASDAQ:PRAA) Stock Price Up 4.5% - Still a Buy?

PRA Group, Inc. (NASDAQ:PRAA - Get Free Report) was up 4.5% during mid-day trading on Wednesday . The stock traded as high as $23.05 and last traded at $23.04. Approximately 110,379 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 213,629 shares. The stock had previously closed at $22.04.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. StockNews.com raised shares of PRA Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th. Truist Financial lifted their target price on shares of PRA Group from $28.00 to $31.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th.

PRA Group Price Performance

The stock has a market cap of $841.44 million, a price-to-earnings ratio of 19.40 and a beta of 1.49. The firm has a 50 day simple moving average of $21.42 and a two-hundred day simple moving average of $21.61.

PRA Group (NASDAQ:PRAA - Get Free Report) last released its quarterly earnings data on Monday, November 4th. The business services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.37. PRA Group had a net margin of 4.16% and a return on equity of 2.90%. The business had revenue of $281.48 million for the quarter, compared to analyst estimates of $262.20 million. During the same quarter last year, the firm earned ($0.31) EPS. PRA Group's quarterly revenue was up 30.1% compared to the same quarter last year. On average, sell-side analysts expect that PRA Group, Inc. will post 1.57 earnings per share for the current fiscal year.

Institutional Trading of PRA Group

Large investors have recently made changes to their positions in the company. Hsbc Holdings PLC lifted its holdings in PRA Group by 121.7% during the second quarter. Hsbc Holdings PLC now owns 64,157 shares of the business services provider's stock worth $1,247,000 after acquiring an additional 35,219 shares in the last quarter. ClariVest Asset Management LLC bought a new position in PRA Group during the 2nd quarter worth about $1,343,000. Global Alpha Capital Management Ltd. raised its position in PRA Group by 2.9% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 1,817,800 shares of the business services provider's stock valued at $40,646,000 after buying an additional 51,085 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in 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 valued at $3,819,000 after acquiring an additional 151,389 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in PRA Group during the 2nd quarter worth approximately $1,142,000. 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.