Pra Group Inc (PRAA) is Downgraded by Raymond James to Outperform

Pra Group Inc (PRAA) was Downgraded by Raymond James to ” Outperform”. Earlier the firm had a rating of “Strong Buy ” on the company shares. Raymond James advised their investors in a research report released on May 10, 2016.

Many Wall Street Analysts have commented on Pra Group Inc. Pra Group Inc was Downgraded by JMP Securities to ” Mkt Perform” on Feb 26, 2016.

On the company’s financial health, Pra Group Inc reported $0.85 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $0.93. The company had revenue of $224.88 million for the quarter, compared to analysts expectations of $236.03 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.19 EPS.

Pra Group Inc opened for trading at $30.61 and hit $31.63 on the upside on Friday, eventually ending the session at $31.59, with a gain of 2.56% or 0.79 points. The heightened volatility saw the trading volume jump to 3,25,257 shares. Company has a market cap of $1,460 M.

In a different news, on Nov 16, 2015, David N Roberts (director) purchased 10,000 shares at $33.84 per share price. According to the SEC, on Jul 14, 2015, Judith S Scott (EVP-General Counsel, Secretary) sold 3,000 shares at $63.61 per share price. On Jul 7, 2015, Neal Stern (EVP of Operations) sold 3,512 shares at $62.37 per share price, according to the Form-4 filing with the securities and exchange commission.

PRA Group Inc. (PRA Group) formerly Portfolio Recovery Associates Inc. and its subsidiaries is a financial and business service company. The Company’s primary business is the purchase collection and management of portfolios of defaulted consumer receivables. These are the unpaid obligations of individuals to credit originators which include banks credit unions consumer and auto finance companies and retail merchants. The Company also provides feebased services including vehicle location skip tracing and collateral recovery services for auto lenders Governments and law enforcement through PRA Location Services LLC (PLS) revenue administration audit and debt discovery or recovery services for local Government entities through PRA Government Services LLC and MuniServices LLC (PGS) and class action claims recovery services and related payment processing through Claims Compensation Bureau LLC (CCB).

Pra Group Inc

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