PRA Group (NASDAQ:PRAA) Shares Gap Down – Should You Sell?

PRA Group, Inc. (NASDAQ:PRAA)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $22.32, but opened at $21.81. PRA Group shares last traded at $21.33, with a volume of 32,001 shares.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Truist Financial raised their price target on shares of PRA Group from $28.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com raised PRA Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th.

PRA Group Stock Down 0.4 %

The firm has a market cap of $821.72 million, a PE ratio of 18.95 and a beta of 1.50. The stock has a 50 day moving average price of $21.67 and a two-hundred day moving average price of $21.95.

PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, November 4th. The business services provider reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.37. The company had revenue of $281.48 million for the quarter, compared to the consensus estimate of $262.20 million. PRA Group had a net margin of 4.16% and a return on equity of 2.90%. PRA Group’s revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.31) EPS. As a group, equities analysts anticipate that PRA Group, Inc. will post 1.57 earnings per share for the current year.

Hedge Funds Weigh In On PRA Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new position in shares of PRA Group in the first quarter valued at about $103,000. ProShare Advisors LLC acquired a new position in PRA Group in the 1st quarter worth approximately $203,000. State Board of Administration of Florida Retirement System lifted its stake in PRA Group by 389.5% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 53,977 shares of the business services provider’s stock valued at $1,408,000 after acquiring an additional 42,950 shares during the period. UniSuper Management Pty Ltd purchased a new stake in shares of PRA Group in the 1st quarter valued at $736,000. Finally, Quadrature Capital Ltd boosted its holdings in shares of PRA Group by 10.7% in the 1st quarter. Quadrature Capital Ltd now owns 19,167 shares of the business services provider’s stock valued at $500,000 after acquiring an additional 1,846 shares during the last quarter. Hedge funds and other institutional investors 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.