Truist Financial Lowers PRA Group (NASDAQ:PRAA) Price Target to $28.00

PRA Group (NASDAQ:PRAA) had its target price dropped by stock analysts at Truist Financial from $42.00 to $28.00 in a research note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the business services provider’s stock. Truist Financial’s price objective would suggest a potential upside of 23.46% from the company’s current price.

Other analysts also recently issued research reports about the stock. JMP Securities reaffirmed a “market outperform” rating and set a $33.00 price target on shares of PRA Group in a research note on Tuesday, May 7th. StockNews.com raised PRA Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th.

PRA Group Price Performance

Shares of PRAA traded down $0.82 during mid-day trading on Tuesday, reaching $22.68. 19,490 shares of the company’s stock traded hands, compared to its average volume of 200,081. The stock’s 50-day moving average is $21.62 and its two-hundred day moving average is $23.34. PRA Group has a 12 month low of $11.85 and a 12 month high of $31.43. The stock has a market cap of $892.50 million, a P/E ratio of -42.06 and a beta of 1.48.

PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, August 5th. The business services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.46. The business had revenue of $284.20 million for the quarter, compared to analyst estimates of $245.04 million. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The business’s revenue was up 35.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.10) earnings per share. Research analysts predict that PRA Group will post 1.33 earnings per share for the current year.

Insider Transactions at PRA Group

In other news, Director Geir Olsen purchased 11,750 shares of the stock in a transaction dated Wednesday, August 7th. The shares were acquired at an average cost of $21.39 per share, for a total transaction of $251,332.50. Following the acquisition, the director now owns 11,750 shares of the company’s stock, valued at $251,332.50. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

Institutional Trading of PRA Group

A number of institutional investors have recently bought and sold shares of PRAA. CWM LLC grew its holdings in shares of PRA Group by 90.5% during the fourth quarter. CWM LLC now owns 1,189 shares of the business services provider’s stock valued at $31,000 after buying an additional 565 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PRA Group during the 2nd quarter valued at about $29,000. nVerses Capital LLC increased its holdings in shares of PRA Group by 700.0% in the second quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,400 shares during the period. Innealta Capital LLC acquired a new stake in shares of PRA Group during the second quarter worth about $57,000. Finally, PNC Financial Services Group Inc. boosted its position in PRA Group by 11.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock valued at $103,000 after buying an additional 419 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

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 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.