Keefe, Bruyette & Woods Downgrades PRA Group, Inc. (PRAA) to Market Perform

PRA Group, Inc. (NASDAQ:PRAA) was downgraded by equities research analysts at Keefe, Bruyette & Woods from an “outperform” rating to a “market perform” rating in a research report issued on Tuesday. They currently have a $40.00 price target on the business services provider’s stock, up from their previous price target of $36.00. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 38.17% from the company’s current price.

A number of other research firms also recently issued reports on PRAA. Zacks Investment Research downgraded PRA Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. BidaskClub downgraded PRA Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Janney Montgomery Scott downgraded PRA Group from a “neutral” rating to a “sell” rating in a research report on Wednesday, October 4th. Raymond James Financial, Inc. reissued an “underperform” rating on shares of PRA Group in a research report on Thursday, September 21st. Finally, Citigroup Inc. downgraded PRA Group to an “underperform” rating in a research report on Thursday, September 21st. Four investment analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company presently has a consensus rating of “Sell” and a consensus price target of $36.00.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.23). PRA Group had a return on equity of 4.69% and a net margin of 9.76%. The firm had revenue of $200.30 million for the quarter, compared to the consensus estimate of $208.97 million. During the same period in the previous year, the company posted $0.83 EPS. PRA Group’s quarterly revenue was down 12.3% compared to the same quarter last year.

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Hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in PRA Group by 12.0% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,829 shares of the business services provider’s stock valued at $107,000 after purchasing an additional 304 shares in the last quarter. Huntington National Bank boosted its position in PRA Group by 5.5% during the second quarter. Huntington National Bank now owns 3,084 shares of the business services provider’s stock valued at $117,000 after purchasing an additional 162 shares in the last quarter. Public Employees Retirement System of Ohio boosted its position in PRA Group by 10.7% during the second quarter. Public Employees Retirement System of Ohio now owns 3,150 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 305 shares in the last quarter. Quantbot Technologies LP bought a new stake in PRA Group during the first quarter valued at about $125,000. Finally, Ameritas Investment Partners Inc. bought a new stake in PRA Group during the first quarter valued at about $132,000.

About PRA Group

PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.

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