Geir Olsen Acquires 15,000 Shares of PRA Group (NASDAQ:PRAA) Stock

PRA Group, Inc. (NASDAQ:PRAA) Director Geir Olsen purchased 15,000 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were bought at an average cost of $14.15 per share, for a total transaction of $212,250.00. Following the completion of the transaction, the director directly owned 58,933 shares in the company, valued at $833,901.95. This trade represents a 34.14% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link.

PRA Group Trading Up 4.6%

Shares of PRA Group stock traded up $0.68 during trading hours on Monday, reaching $15.42. The stock had a trading volume of 289,198 shares, compared to its average volume of 367,650. The firm has a market capitalization of $602.33 million, a PE ratio of 6.59 and a beta of 1.41. PRA Group, Inc. has a twelve month low of $12.29 and a twelve month high of $24.69. The stock’s 50 day moving average is $15.21 and its 200 day moving average is $15.44.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings results on Monday, November 3rd. The business services provider reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $247.08 million for the quarter, compared to analysts’ expectations of $295.77 million. PRA Group had a net margin of 8.10% and a return on equity of 6.52%. As a group, sell-side analysts predict that PRA Group, Inc. will post 2.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PRAA. Citigroup restated an “outperform” rating on shares of PRA Group in a research report on Tuesday, August 5th. Truist Financial cut their price target on PRA Group from $33.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. JMP Securities set a $24.00 price objective on PRA Group and gave the stock a “market outperform” rating in a research note on Tuesday, August 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PRA Group in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of PRA Group from a “hold” rating to a “strong-buy” rating in a report on Thursday. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, PRA Group currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

Institutional Trading of PRA Group

Hedge funds have recently made changes to their positions in the business. Principal Financial Group Inc. increased its stake in PRA Group by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 196,312 shares of the business services provider’s stock worth $4,048,000 after buying an additional 5,144 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of PRA Group by 3.3% in the first quarter. Envestnet Asset Management Inc. now owns 119,502 shares of the business services provider’s stock worth $2,464,000 after acquiring an additional 3,816 shares in the last quarter. Capital Management Corp VA increased its position in shares of PRA Group by 58.5% during the first quarter. Capital Management Corp VA now owns 353,371 shares of the business services provider’s stock worth $7,287,000 after acquiring an additional 130,360 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in shares of PRA Group in the first quarter valued at $294,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in PRA Group in the first quarter valued at $5,413,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

About PRA Group

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.