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Stock impact report

PRA Group: Restructurings, Repeated Disappointments Strain Bull Thesis, But Risks Overstated [Seeking Alpha]

PRA Group, Inc. (PRAA) 
Last pra group, inc. earnings: 2/27 04:05 pm Check Earnings Report
US:NASDAQ Investor Relations: ir.pragroup.com/investors
Company Research Source: Seeking Alpha
Recent CEO change brings another restructuring, including headcount cuts and a closer look at back-office IT, but risks remain around collections efficacy and sustainable improvement. Shares trade at a significant discount to historical multiples; fair value estimated at $21–$22, but sustained operational progress is needed to close the valuation gap. I maintain a 'buy' rating, largely on the basis of the market overstating PRAA's risks, and the likelihood that restructuring will produce another pop in earnings in 12-24 months. glegorly/iStock via Getty Images If you can accurately price charged-off debt and collect if efficiently, there is a lot of money to be made in receivables acquisition and collection, but heed those “ifs”. PRA Group ( PRAA ) has struggled to build and maintain any This article was written by Analyst's Disclosure: I/we have a beneficial long position in the shares of PRAA either through stock ownership, options, or other derivatives. I wrote this ar Show less Read more
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