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PRA Group

PRA Group Inc is a leader in acquiring and collecting nonperforming loans. The company returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe, and Australia. It is also engaged in providing fee-based services on class action claims recoveries in the United States. The company's portfolio segments include; Core, which is engaged in purchasing and collecting nonperforming loans, which the originators have not chosen not to pursue, and the Insolvency segment which is engaged in purchasing and collecting nonperforming loans where the customer is involved in a bankruptcy proceeding.

PRA Group Inc

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Shares of consumer finance companies are trading higher following President Trump's decision to implement a 90-day pause on reciprocal tariffs for all countries except China.

News

Management

PRA Group Names Martin Sjolund As President And CEO, Effective June 17, 2025

PPA Group shares are trading lower. The company reported Q4 financial results.

PRA Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRAA#NASDAQ">PRAA</a>) reported quarterly earnings of $0.47 per share which beat the analyst consensus estimate of $0.44 by 6.82 percent. This is a 313.64 percent increase over losses of $(0.22) per share from the same period last year. The company reported quarterly sales of $293.23 million which beat the analyst consensus estimate of $275.81 million by 6.32 percent. This is a 32.43 percent increase over sales of $221.42 million the same period last year.

Earnings

Earnings Beats

PRA Group Q4 EPS $0.47 Beats $0.44 Estimate, Sales $293.23M Beat $275.81M Estimate

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Earnings Scheduled For February 19, 2025

It was upsized by $50.0 million from the previously announced $100.0 million, at a price of 103.625% of their principal amount, in a private transaction that is exempt from the registration requirements of the Securities Act of 1933, as amended.

Offerings

PRA Group Reports Pricing Of Upsized Offering Of Additional $150M Of Senior Notes Due 2030

PRA Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRAA#NASDAQ">PRAA</a>) (the "Company"), a global leader in acquiring and collecting nonperforming loans, announced today that it plans, subject to market and other conditions, to offer $100.0 million aggregate principal amount of senior notes due 2030 (the "notes") in a private transaction that is exempt from the registration requirements of the Securities Act of 1933, as amended (the "Securities Act"). The notes will be a further issuance of the Company's existing 8.875% Senior Notes due 2030 and will be issued as additional notes under the indenture dated as of May 20, 2024, pursuant to which the Company previously issued $400.0 million aggregate principal amount of 8.875% Senior Notes due 2030 (the "existing notes"). The notes will be of the same class and series as, and are otherwise identical to, the existing notes other than with respect to the date of issuance and issue price.

PRA Group Announces Proposed Offering Of Additional $100M Of Senior Notes Due 2030

PRA Group shares are trading higher after the company reported better-than-expected Q3 financial results. Additionally, Truist Securities maintained a Buy rating on the stock and raised its price target from $28 to $31.

Truist Securities analyst Mark Hughes maintains PRA Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRAA#NASDAQ">PRAA</a>) with a Buy and raises the price target from $28 to $31.

Price Target

Analyst Ratings

Truist Securities Maintains Buy on PRA Group, Raises Price Target to $31

PRA Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRAA#NASDAQ">PRAA</a>) .

Guidance

PRA Group says On Track to Achieve Financial and Operational Targets for 2024; Announces Targets for 2025

PRA Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRAA#NASDAQ">PRAA</a>) reported quarterly earnings of $0.69 per share which beat the analyst consensus estimate of $0.32 by 115.62 percent. This is a 322.58 percent increase over losses of $(0.31) per share from the same period last year. The company reported quarterly sales of $281.477 million which beat the analyst consensus estimate of $262.198 million by 7.35 percent. This is a 30.05 percent increase over sales of $216.430 million the same period last year.

PRA Group Q3 2024 GAAP EPS $0.69 Beats $0.32 Estimate, Sales $281.477M Beat $262.198M Estimate

PRA Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRAA#NASDAQ">PRAA</a>) (the &quot;Company&quot;), a global leader in acquiring and collecting nonperforming loans, announced today that it amended and extended its North American Credit Agreement on October 28, 2024 and its UK Credit Agreement on October 30, 2024. The amendments extended the maturities for both credit facilities, totaling $2.3 billion of aggregate commitment amount, for five years to October 2029. &nbsp;Pricing remains the same as the previous agreements at an interest margin of 2.25% for the North American Credit Agreement and 2.75% for the UK Credit agreement.

Financing

Global

PRA Group Announces Amendment And Extension Of North American And United Kingdom Credit Agreements

Rumors

Trading Ideas

Watching PRA Group; Shares See Volume As Traders Circulate Stock Picked By Popular Newsletter Service

Truist Securities analyst Mark Hughes maintains PRA Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRAA#NASDAQ">PRAA</a>) with a Buy and lowers the price target from $42 to $28.

Truist Securities Maintains Buy on PRA Group, Lowers Price Target to $28

PRA Group shares are trading lower. The company reported Q2 financial results.

PRA Group Expects FY24 ~60% Cash Efficiency Ratio; Double-Digit Cash Collections Growth

PRA Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRAA#NASDAQ">PRAA</a>) reported quarterly earnings of $0.54 per share which beat the analyst consensus estimate of $0.08 by 575 percent. The company reported quarterly sales of $284.229 million which beat the analyst consensus estimate of $245.037 million by 15.99 percent. This is a 35.84 percent increase over sales of $209.236 million the same period last year.

PRA Group Q2 2024 GAAP EPS $0.54 Beats $0.08 Estimate, Sales $284.229M Beat $245.037M Estimate

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Shares of companies within the broader financial sector are trading lower amid overall weakness following concerns about recently issued US economic data.

PRA Group, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRAA#NASDAQ">PRAA</a>) (the &ldquo;Company&rdquo;), a global leader in acquiring and collecting nonperforming loans, announced today the pricing on May&nbsp;15, 2024 of its offering of&nbsp;$400.0&nbsp;million&nbsp;aggregate principal amount of&nbsp;8.875%&nbsp;Senior Notes due 2030 (the &ldquo;notes&rdquo;), in a private transaction that is exempt from the registration requirements of the Securities Act of 1933, as amended (the &ldquo;Securities Act&rdquo;). The offering of the notes is expected to close on or about May&nbsp;20, 2024, subject to the satisfaction of customary closing conditions.
The notes will be guaranteed on a senior unsecured basis by each of the Company&rsquo;s existing and future domestic subsidiaries that is a borrower or guarantor under the Company&rsquo;s North American Credit Agreement.
PRA Group intends to use the net proceeds from the offering to repay approximately&nbsp;$396.0&nbsp;million&nbsp;of its outstanding borrowings under its North American revolving credit facility (the &ldquo;North American Revolver&rdquo;). The Company intends to subsequently use borrowings under the North American Revolver on or about September&nbsp;1, 2024 to redeem its&nbsp;$298.0&nbsp;million&nbsp;of&nbsp;7.375%&nbsp;Senior Notes due 2025 (the &ldquo;2025 senior notes&rdquo;) and to pay accrued and unpaid interest thereon, if any.

PRA Group Announces Pricing of Offering of $400M of 8.875% Senior Notes due 2030

JMP Securities analyst David Scharf reiterates PRA Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRAA#NASDAQ">PRAA</a>) with a Market Outperform and maintains $33 price target.

Reiteration

JMP Securities Reiterates Market Outperform on PRA Group, Maintains $33 Price Target

Press Releases

PRA Group to Present at Upcoming November and December 2024 Investor Conferences

PRA Group Announces Proposed Offering of Additional $100.0 Million of Senior Notes due 2030

PRA Group Announces Pricing of Upsized Offering of Additional $150.0 Million of Senior Notes due 2030

Events

Sidoti Events, LLC's Virtual December Small-Cap Conference

Adrian Butler Elected to PRA Group Board of Directors

PRA Group to Announce Fourth Quarter and Full Year 2024 Results on February 19

PRA Group Reports Fourth Quarter and Full Year 2024 Results

Fintech

PRA Group and StepChange Advance Financial Inclusion and Consumer Resiliency in UK Parliament

PRA Group Announces Leadership Succession Plan

PRA Group to Announce First Quarter 2025 Results on May 5

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