Pra Group (PRAA) Downgraded by BidaskClub to “Hold”

Pra Group (NASDAQ:PRAA) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday, BidAskClub reports.

PRAA has been the subject of a number of other research reports. William Blair reaffirmed an “outperform” rating on shares of Pra Group in a report on Friday, March 1st. ValuEngine raised shares of Pra Group from a “sell” rating to a “hold” rating in a report on Friday, April 26th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $35.00.

NASDAQ PRAA opened at $28.64 on Wednesday. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of 19.89 and a beta of 1.81. Pra Group has a 12-month low of $22.62 and a 12-month high of $43.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.20 and a quick ratio of 1.20.

Pra Group (NASDAQ:PRAA) last posted its quarterly earnings results on Thursday, May 9th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.35 by ($0.01). The company had revenue of $245.90 million during the quarter, compared to analysts’ expectations of $244.08 million. Pra Group had a return on equity of 5.26% and a net margin of 6.42%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. As a group, equities analysts anticipate that Pra Group will post 1.66 earnings per share for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Texas Permanent School Fund raised its holdings in shares of Pra Group by 4.0% during the fourth quarter. Texas Permanent School Fund now owns 29,646 shares of the business services provider’s stock worth $722,000 after purchasing an additional 1,143 shares during the last quarter. Great West Life Assurance Co. Can raised its holdings in shares of Pra Group by 59.1% during the fourth quarter. Great West Life Assurance Co. Can now owns 323,923 shares of the business services provider’s stock worth $7,799,000 after purchasing an additional 120,328 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Pra Group by 20.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,442 shares of the business services provider’s stock worth $84,000 after purchasing an additional 583 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Pra Group by 21.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 438,384 shares of the business services provider’s stock worth $10,683,000 after purchasing an additional 77,734 shares during the last quarter. Finally, Victory Capital Management Inc. raised its holdings in shares of Pra Group by 4.0% during the fourth quarter. Victory Capital Management Inc. now owns 12,322 shares of the business services provider’s stock worth $300,000 after purchasing an additional 479 shares during the last quarter.

About Pra Group

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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