PRA Group (NASDAQ:PRAA) Shares Up 4.5% – Should You Buy?

Shares of PRA Group, Inc. (NASDAQ:PRAA) were up 4.5% on Wednesday . The company traded as high as $23.05 and last traded at $23.04. Approximately 110,379 shares were traded during mid-day trading, a decline of 48% from the average daily volume of 213,629 shares. The stock had previously closed at $22.04.

Analyst Upgrades and Downgrades

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

PRA Group Trading Up 6.8 %

The company has a fifty day moving average price of $21.40 and a two-hundred day moving average price of $21.61. The company has a market cap of $927.79 million, a price-to-earnings ratio of 21.39 and a beta of 1.49.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, November 4th. The business services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.32 by $0.37. The business had revenue of $281.48 million for the quarter, compared to analyst estimates of $262.20 million. PRA Group had a return on equity of 2.90% and a net margin of 4.16%. PRA Group’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.31) EPS. Sell-side analysts anticipate that PRA Group, Inc. will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On PRA Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PRAA. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PRA Group in the second quarter worth about $29,000. Quarry LP increased its holdings in shares of PRA Group by 282.6% in the third quarter. Quarry LP now owns 1,316 shares of the business services provider’s stock worth $29,000 after acquiring an additional 972 shares in the last quarter. 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 worth $31,000 after acquiring an additional 1,400 shares in the last quarter. FMR LLC increased its holdings in shares of PRA Group by 55.0% in the third quarter. FMR LLC now owns 1,707 shares of the business services provider’s stock worth $38,000 after acquiring an additional 606 shares in the last quarter. Finally, Point72 DIFC Ltd increased its holdings in shares of PRA Group by 388.6% in the third quarter. Point72 DIFC Ltd now owns 2,150 shares of the business services provider’s stock worth $48,000 after acquiring an additional 1,710 shares in the last quarter. Institutional investors own 97.22% of the company’s stock.

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.