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Pra Group Inc   (PRAA)
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Price: $22.9700 $0.13 0.569%
Day's High: $23.375 Week Perf: -6.24 %
Day's Low: $ 22.37 30 Day Perf: -6.28 %
Volume (M): 340 52 Wk High: $ 41.69
Volume (M$): $ 7,798 52 Wk Avg: $23.50
Open: $22.74 52 Wk Low: $11.85



 Market Capitalization (Millions $) 900
 Shares Outstanding (Millions) 39
 Employees 3,799
 Revenues (TTM) (Millions $) 803
 Net Income (TTM) (Millions $) -67
 Cash Flow (TTM) (Millions $) 29
 Capital Exp. (TTM) (Millions $) 3

Pra Group Inc

Headquartered in Norfolk, Virginia and incorporated in Delaware, we are a leading company in the acquisition and collection of nonperforming loans in the Americas and Europe. Our business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities, and others. Our primary business is the purchase, collection and management of portfolios of nonperforming consumer loans. The accounts we acquire are the unpaid obligations of individuals owed to credit grantors, which primarily include banks and other types of consumer, retail, and auto finance companies. We also provide the following fee-based services:

Contingent collections of nonperforming loans in Europe;

Vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement;

Revenue administration, audit and debt discovery services for local government entities; and

Class action claims recovery services and related payment processing.
We have one reportable segment, accounts receivable management, based on similarities among the operating units including the nature of the products and services, the nature of the production processes, the types or classes of customers for our products and services, the methods used to distribute our products and services, and the nature of the regulatory environment.

On August 3, 2015 we acquired 55% of the equity interest in RCB Investimentos S.A. ("RCB"). The remaining 45% of the equity interest in RCB is owned by the executive team and previous owners of RCB. RCB was founded in 2007 and is a leading master servicing platform for nonperforming loans in Brazil. RCB specializes in structuring, investing and operating receivable and credit-related assets. The founders of RCB each entered into long-term employment agreements with us and will continue to manage RCBs local business in Brazil. Our investment for the 55% ownership of RCB was paid for with approximately $55.2 million in cash which was borrowed under our existing domestic revolving credit facility. The majority of cash paid to acquire the equity interest in RCB is expected to be used in the ordinary course of business. As part of the investment and call option agreements, we have the right to purchase the remaining 45% of RCB at certain multiples of earnings before interest, taxes, depreciation and amortization ("EBITDA") beginning August 3, 2019 and lasting for two years.


The scale and scope of our international business expanded substantially during 2014 primarily due to the acquisition of Aktiv Kapital ("Aktiv"), a Norway-based leader in acquiring and servicing nonperforming consumer debt throughout Europe and Canada. With the Aktiv acquisition, we became one of the worlds largest acquirers of nonperforming consumer loans from banks and other creditors. The Aktiv acquisition provided us entry into several new markets, resulting in additional geographic diversity in portfolio purchasing and collection. Aktivs executive team and the more than 400 Aktiv employees joined our workforce upon the closing of the transaction.
We believe that the strengths of our business are our analytical approach to portfolio pricing and servicing, our processing systems and procedures, our relationships with many of the largest consumer lenders, and our extensive compliance systems and culture. The success of our business depends on our ability to purchase nonperforming loans at appropriate valuations and to collect on those receivables in a compliant, effective and efficient manner.


Our Core business specializes in receivables that have been charged-off by the credit grantor. Because the credit grantor and/or other debt servicing companies have unsuccessfully attempted to fully collect these receivables, we are able to purchase them at a substantial discount to their face value.
Our Insolvency business consists primarily of purchasing and collecting accounts that are involved in a Chapter 13 bankruptcy proceeding from credit grantors based in the United States. During 2014, the geographic footprint of the Insolvency business expanded into Canada and Europe.

We were initially formed as Portfolio Recovery Associates, L.L.C., a Delaware limited liability company, on March 20, 1996. In connection with our 2002 initial public offering, all of the membership units of Portfolio Recovery Associates, L.L.C. were exchanged, simultaneously with the effectiveness of our registration statement, for a single class of Portfolio Recovery Associates, Inc. common stock, a new Delaware corporation formed on August 7, 2002. Accordingly, the members of Portfolio Recovery Associates, L.L.C. became the common stockholders of Portfolio Recovery Associates, Inc., which became the parent company of Portfolio Recovery Associates, L.L.C. and its subsidiaries. On October 23, 2014, we changed our name to PRA Group, Inc.



   Company Address: 120 Corporate Boulevard Norfolk 23502 VA
   Company Phone Number: 772-7326   Stock Exchange / Ticker: NASDAQ PRAA
   


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
ECPG   -8.65%    
AIG   -0.72%    
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Pra Group Inc

PRA Group Inc. Faces Decline in Revenue, Sparking Need for Strategic Changes

As the chief risk and compliance officer for PRA Group Inc, I have closely analyzed the financial results for the interval ending December 31, 2023. The decline in orders has led to losses for the company, with revenue decreasing by -0.643% to $221.42 million. The loss per share was at $-0.22, in stark contrast to the $0.41 per share realized in the same period the year before.
It is evident that there has been a significant decrease in performance compared to the previous financial reporting period. The EPS has improved slightly from $-0.31 per share, but revenue growth has been relatively small at 2.305% from $216.43 million. This trend is concerning and indicates a need for strategic changes within the company.

Personnel Announcements

PRA Group Appoints Keith Warren as CRCO Amid Financial Challenges and Decreasing ROI

Published Mon, Jan 22 2024 9:15 PM UTC


PRA Group, a global leader in acquiring and collecting nonperforming loans, has announced the appointment of Keith Warren as its new chief risk and compliance officer (CRCO), effective from January 29th. The company made this announcement on January 22, 2024. PRA Group, Inc. is listed on the Nasdaq stock exchange under the ticker symbol PRAA.
Keith Warren's appointm...

Pra Group Inc

Pra Group Inc Faces Major Shortfall in Fiscal Year Ending September 30, 2023 Due to Weak Sales

A Challenging Quarter for Pra Group Inc: Analyzing the Financial Results
As a financial enthusiast, I closely follow the performance of various companies in the market to track trends and identify potential opportunities. Today, I turn my attention towards Pra Group Inc, a leading debt buyer and collector, to interpret their recent financial results for the July to September 2023 time-frame. The numbers are in, and they reveal a challenging quarter for the organization.
Let's dive straight into the numbers. During this period, Pra Group Inc reported a loss per stock of -$0.31 per share. Comparatively, a year prior, the company had reported earnings of $0.63 per share. This significant decline in profitability is cause for concern and requires further investigation.

Pra Group Inc

Pra Group Inc Suffers Massive Losses on Weak Sales, Registers a Significant Drop of -35.71% in Year-to-Date Performance

Over the past 5 days, Pra Group Inc stock has experienced a drop of -5.04%, bringing its year-to-date performance to -35.71%. This drop is significant and may be concerning to investors. However, it is important to put this recent decline into perspective and understand the factors contributing to it.
Firstly, it is worth noting that despite the recent drop, Pra Group Inc stock still trades 25.3% above its 52-week low. This indicates that the stock, while experiencing a decline, is still performing relatively well compared to its lowest point within the past year.

Pra Group Inc

Pra Group Inc's First Quarter Earnings Plunge by 35%, Raises Alarm Bells in the Financial Services Industry

In a recent financial update, the Consumer Financial Services company revealed disappointing figures for the financial period closing on March 31, 2023. This included a significant dip in their revenue by 35.384% to $155.47 million. Additionally, Pra Group Inc, a subsidiary of the company, suffered a net loss per share of $-1.50 compared to $0.97 in the corresponding period of the previous year.
It's worth noting that income per share also fell from $0.41 to $-1.50 per share, and revenue tumbled by -30.236% from $222.85 million in the previous reporting period. This downturn in financial performance resulted in Pra Group Inc logging a net deficit of $-53.903 million in the financial period closing March 31, 2023, compared to net earnings of $34.618 million in the same period a year before.






 

Pra Group Inc's Segments
 
 
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  Company Estimates  
  Revenue Outlook
Pra Group Inc does not provide revenue guidance.

Earnings Outlook
Pra Group Inc does not provide earnings estimates.

 
Geographic Revenue Dispersion




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