Zacks Investment Research downgraded shares of Pra Group (NASDAQ:PRAA) from a buy rating to a hold rating in a report released on Monday.
According to Zacks, “PRA Group’s shares have outperformed the industry in a year’s time. Its continued favorable performance of the fee-for-service business instills optimism. Several strategic acquisitions and alliances position the company well for long-term growth. PRA Group’s financial health also impresses.The company has seen its Zacks Consensus Estimate for 2018 earnings being revised upward in the past 30 days. Its fourth-quarter 2017 earnings per share missed the Zacks Consensus Estimate but rose year over year on the back of higher revenues. However, its rising level of expenses continues to weigh on the company’s bottom line. Increasing interest expenses have also been putting pressure on the its profitability.”
Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Pra Group from a sell rating to a hold rating in a report on Wednesday, January 31st. Oppenheimer restated a hold rating on shares of Pra Group in a report on Thursday, March 1st. Raymond James Financial upgraded Pra Group from an underperform rating to a market perform rating in a report on Wednesday, February 28th. UBS Group began coverage on Pra Group in a report on Monday, January 8th. They issued a market perform rating on the stock. Finally, William Blair restated an outperform rating on shares of Pra Group in a report on Tuesday, February 20th. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. Pra Group currently has an average rating of Hold and an average target price of $40.00.
Pra Group (NASDAQ:PRAA) last released its quarterly earnings data on Tuesday, February 27th. The business services provider reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). Pra Group had a return on equity of 5.83% and a net margin of 19.94%. The firm had revenue of $205.67 million during the quarter, compared to analyst estimates of $195.56 million. equities research analysts forecast that Pra Group will post 1.77 earnings per share for the current fiscal year.
In other Pra Group news, Director Penelope W. Kyle sold 1,975 shares of the stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $33.45, for a total transaction of $66,063.75. Following the transaction, the director now owns 36,425 shares in the company, valued at $1,218,416.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.10% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the business. Public Employees Retirement System of Ohio grew its holdings 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 during the last quarter. Eagle Asset Management Inc. grew its holdings in Pra Group by 1.2% during the fourth quarter. Eagle Asset Management Inc. now owns 139,641 shares of the business services provider’s stock valued at $4,684,000 after purchasing an additional 1,638 shares during the last quarter. American International Group Inc. grew its holdings in Pra Group by 5.3% during the third quarter. American International Group Inc. now owns 36,287 shares of the business services provider’s stock valued at $1,040,000 after purchasing an additional 1,832 shares during the last quarter. Bath Savings Trust Co grew its holdings in Pra Group by 7.8% during the fourth quarter. Bath Savings Trust Co now owns 27,146 shares of the business services provider’s stock valued at $901,000 after purchasing an additional 1,975 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Pra Group by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 406,062 shares of the business services provider’s stock valued at $13,481,000 after purchasing an additional 2,229 shares during the last quarter.
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Pra Group Company Profile
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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