Pra Group (PRAA) Earns Hold Rating from Oppenheimer

Oppenheimer reiterated their hold rating on shares of Pra Group (NASDAQ:PRAA) in a research report report published on Thursday.

Several other equities research analysts have also recently commented on PRAA. BidaskClub cut shares of Pra Group from a hold rating to a sell rating in a research report on Tuesday, May 1st. ValuEngine cut shares of Pra Group from a buy rating to a hold rating in a research report on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Pra Group has an average rating of Hold and an average price target of $35.00.

Shares of Pra Group traded up $0.35, reaching $37.35, during midday trading on Thursday, according to MarketBeat. 266,426 shares of the company traded hands, compared to its average volume of 257,311. Pra Group has a 52 week low of $25.72 and a 52 week high of $43.75. The stock has a market cap of $1.68 billion, a P/E ratio of 23.13 and a beta of 1.50.

Pra Group (NASDAQ:PRAA) last issued its quarterly earnings data on Tuesday, August 7th. The business services provider reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Pra Group had a net margin of 16.81% and a return on equity of 6.41%. The business had revenue of $221.52 million for the quarter, compared to analysts’ expectations of $214.17 million. analysts expect that Pra Group will post 1.68 EPS for the current year.

In related news, Chairman Steven D. Fredrickson sold 1,004 shares of the business’s stock in a transaction that occurred on Tuesday, June 12th. The stock was sold at an average price of $41.10, for a total value of $41,264.40. Following the completion of the sale, the chairman now owns 321,948 shares of the company’s stock, valued at approximately $13,232,062.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Steven D. Fredrickson sold 7,500 shares of the business’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $43.02, for a total value of $322,650.00. Following the completion of the sale, the insider now directly owns 306,508 shares of the company’s stock, valued at approximately $13,185,974.16. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,454 shares of company stock worth $1,832,179. Company insiders own 2.34% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Scout Investments Inc. lifted its holdings in Pra Group by 1.6% in the 2nd quarter. Scout Investments Inc. now owns 90,071 shares of the business services provider’s stock worth $3,472,000 after purchasing an additional 1,439 shares during the last quarter. Prudential Financial Inc. lifted its holdings in shares of Pra Group by 2.3% during the first quarter. Prudential Financial Inc. now owns 76,549 shares of the business services provider’s stock worth $2,909,000 after buying an additional 1,750 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Pra Group by 2.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 82,533 shares of the business services provider’s stock worth $3,137,000 after buying an additional 1,889 shares during the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Pra Group by 29.0% during the second quarter. Xact Kapitalforvaltning AB now owns 8,895 shares of the business services provider’s stock worth $343,000 after buying an additional 2,000 shares during the last quarter. Finally, Swiss National Bank lifted its holdings in shares of Pra Group by 2.7% during the first quarter. Swiss National Bank now owns 78,500 shares of the business services provider’s stock worth $2,983,000 after buying an additional 2,100 shares during the last quarter.

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 in the Americas and Europe. It is involved in the acquisition of accounts that are primarily the unpaid obligations of individuals owed to credit grantors, which include banks and other types of consumer, retail, and auto finance companies.

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