PRA Group (NASDAQ:PRAA) Shares Cross Above 200 Day Moving Average – Here’s What Happened

PRA Group, Inc. (NASDAQ:PRAA) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.47 and traded as high as $19.02. PRA Group shares last traded at $18.99, with a volume of 516,983 shares traded.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PRAA. Wall Street Zen lowered PRA Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Weiss Ratings reissued a “sell (d)” rating on shares of PRA Group in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, PRA Group presently has an average rating of “Hold” and a consensus target price of $25.00.

PRA Group Trading Down 4.4%

The firm has a 50 day simple moving average of $17.09 and a 200 day simple moving average of $16.48. The firm has a market capitalization of $697.20 million, a PE ratio of -2.55 and a beta of 1.10.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.22. PRA Group had a positive return on equity of 13.19% and a negative net margin of 22.51%.The firm had revenue of $314.53 million during the quarter, compared to analysts’ expectations of $295.90 million. Research analysts forecast that PRA Group, Inc. will post 2.52 earnings per share for the current year.

Institutional Trading of PRA Group

A number of large investors have recently made changes to their positions in the stock. Topline Capital Management LLC grew its position in PRA Group by 16.2% in the 3rd quarter. Topline Capital Management LLC now owns 2,615,711 shares of the business services provider’s stock worth $40,387,000 after purchasing an additional 365,082 shares during the period. Invenomic Capital Management LP boosted its stake in shares of PRA Group by 14.6% in the 3rd quarter. Invenomic Capital Management LP now owns 415,481 shares of the business services provider’s stock worth $6,415,000 after buying an additional 53,068 shares during the last quarter. UBS Group AG grew its holdings in shares of PRA Group by 87.2% in the fourth quarter. UBS Group AG now owns 346,436 shares of the business services provider’s stock worth $6,128,000 after acquiring an additional 161,407 shares during the period. OP Asset Management Ltd purchased a new position in PRA Group in the first quarter worth about $483,000. Finally, Bleakley Financial Group LLC grew its stake in shares of PRA Group by 58.0% during the 4th quarter. Bleakley Financial Group LLC now owns 20,970 shares of the business services provider’s stock valued at $371,000 after purchasing an additional 7,701 shares during the period. 97.22% of the stock is currently owned by institutional investors.

About PRA Group

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.