Pra Group (PRAA) Downgraded to “Hold” at BidaskClub

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BidaskClub lowered shares of Pra Group (NASDAQ:PRAA) from a buy rating to a hold rating in a report issued on Thursday morning.

A number of other brokerages have also recently commented on PRAA. William Blair reiterated an outperform rating on shares of Pra Group in a research note on Friday, March 1st. Buckingham Research initiated coverage on shares of Pra Group in a research note on Thursday, January 3rd. They issued a neutral rating for the company. Zacks Investment Research upgraded shares of Pra Group from a strong sell rating to a hold rating in a research note on Friday, November 16th. Finally, ValuEngine cut shares of Pra Group from a buy rating to a hold rating in a research note on Tuesday, December 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus target price of $35.00.

Shares of PRAA stock opened at $26.60 on Thursday. The firm has a market capitalization of $1.24 billion, a price-to-earnings ratio of 18.47 and a beta of 1.84. Pra Group has a one year low of $22.62 and a one year high of $43.75.

Several institutional investors and hedge funds have recently modified their holdings of PRAA. First Trust Advisors LP raised its position in shares of Pra Group by 14.2% in the third quarter. First Trust Advisors LP now owns 58,173 shares of the business services provider’s stock valued at $2,094,000 after purchasing an additional 7,243 shares during the period. Victory Capital Management Inc. raised its position in shares of Pra Group by 113.1% in the third quarter. Victory Capital Management Inc. now owns 11,843 shares of the business services provider’s stock valued at $426,000 after purchasing an additional 6,285 shares during the period. Wells Fargo & Company MN raised its position in shares of Pra Group by 3.9% in the third quarter. Wells Fargo & Company MN now owns 144,081 shares of the business services provider’s stock valued at $5,187,000 after purchasing an additional 5,446 shares during the period. Eagle Asset Management Inc. raised its position in shares of Pra Group by 11.3% in the third quarter. Eagle Asset Management Inc. now owns 199,577 shares of the business services provider’s stock valued at $7,184,000 after purchasing an additional 20,266 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in shares of Pra Group by 66.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,495,768 shares of the business services provider’s stock valued at $53,848,000 after purchasing an additional 596,684 shares during the period.

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 in the Americas and Europe. It is involved in the acquisition of accounts that are primarily the unpaid obligations of individuals owed to credit grantors, which include banks and other types of consumer, retail, and auto finance companies.

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