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Last $51.45 USD
Change Today -0.3801 / -0.73%
Volume 157.6K
As of 12:36 PM 09/4/15 All times are local (Market data is delayed by at least 15 minutes).

pra group inc (PRAA) Snapshot

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11/5/14 - $65.00
52 Week Low
03/4/15 - $47.84
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pra group inc (PRAA) Details

Portfolio Recovery Associates Inc. provides outsourced receivables management and related services in the U.S. It purchases, collects, and manages portfolios of defaulted consumer receivables—the unpaid obligations of individuals to banks, credit unions, consumer and auto finance companies, and retail merchants. It also provides collateral location services for creditors, collections and revenue administration, and audit and debt discovery/recovery services for the government. The company’s customers are in the financial-services, auto, retail, utility, health-care, and government sectors. Portfolio Recovery Associates was founded in 1996 and is headquartered in Norfolk, Va.

3,820 Employees
Last Reported Date: 08/10/15
Founded in 1996

pra group inc (PRAA) Top Compensated Officers

Co-Founder, Chairman and Chief Executive Offi...
Total Annual Compensation: $846.2K
Co-Founder and President
Total Annual Compensation: $428.8K
Chief Executive Officer of Europe
Total Annual Compensation: $244.7K
President of Insolvency Investment Services
Total Annual Compensation: $424.0K
Chief Global Investment, Analytics & Operatio...
Total Annual Compensation: $350.0K
Compensation as of Fiscal Year 2014.

pra group inc (PRAA) Key Developments

PRA Group, Inc. Enters Fifth Amendment to Credit Agreement

On August 4, 2015, PRA Group, Inc. entered into a Fifth Amendment to the Credit Agreement dated as of December 19, 2012, as amended from time to time, by and among the company, its domestic wholly-owned subsidiaries as guarantors, certain lenders, Bank of America, N.A. as administrative agent, swing line lender, and L/C issuer, and certain other agents and arrangers named therein, pursuant to which the Lenders agreed to provide a senior credit facility to the company. Among other things, the Fifth Amendment adds Bank of America, N.A., acting through its Canada branch, as Canadian Administrative Agent under the Credit Agreement, adds the company's subsidiary, PRA Group Canada Inc., as a Borrower under the Credit Agreement, removes the Financial Covenant with respect to Consolidated Tangible Net Worth, terminates the Multi Currency Revolving B Commitments, adds $50,000,000 of Canadian Revolving Commitments, modifies the definition of Permitted Acquisitions to increase the baskets included therein, permits company subsidiaries organized under the laws of Brazil to borrow up to $150,000,000 and to grant liens with respect to such borrowings, and acknowledges the change of the company's legal name in October 2014 to PRA Group, Inc. The aggregate commitments under the Credit Agreement have not changed.

PRA Group Announce Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

PRA Group announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total revenues of $237.197 million against $197.343 million a year ago. Income from operations was $88.879 million against $72.437 million a year ago. Income before income taxes was $79.011 million against $61.173 million a year ago. Net income was $51.425 million or $1.06 per basic and diluted share against $37.507 million or $0.74 per diluted share a year ago. Return on average equity was 23.5% against 16.0% a year ago. Return on average assets was 7.4% against 9.0% a year ago. For the six months, the company reported total revenues of $482.403 million against $391.265 million a year ago. Income from operations was $185.045 million against $144.019 million a year ago. Income before income taxes was $167.190 million against $127.904 million a year ago. Net income was $109.560 million or $2.25 per diluted share against $78.347 million or $1.55 per diluted share a year ago. Return on average equity was 26.6% against 17.1% a year ago. Return on average assets was 8.0% against 9.5% a year ago.

PRA Group Announces Board Changes

PRA Group announced several organizational changes to maximize its competitive advantages of people, data, analytics, and results. Effective immediately, Kevin Stevenson, formerly executive vice president, chief financial and administrative officer, treasurer and assistant secretary, will assume the role of president, PRA Group, and will join the company's board of directors. In his new role as president, Stevenson will assume the additional responsibility of the operations in the Americas, with both the Core and Insolvency groups reporting to him. He will continue in his role as chief financial and administrative officer until a new chief financial officer is found. At that time, Stevenson will continue as chief administrative officer, with the new CFO reporting to him. Neal Stern, former head of PRA's Core Operations for the Americas, will transition into a new global role as executive vice president, chief global investment, analytics, and operations strategy officer. Stern has changed how PRA views operations strategy since his arrival in 2008 and will now apply his knowledge and expertise to the company's global operations. Chris Graves, executive vice president core acquisitions, will assume responsibility for all Core business in the Americas Core Acquisitions and Core Operations. Graves joined PRA in 2006 and has successfully directed PRA's acquisition of defaulted customer accounts in the U.S. and Canada. Steve Roberts, president, business and government services, will add responsibilities for global strategy and business development. Roberts has reinvigorated PRA's subsidiary businesses since joining PRA in 2012 and will look to further the company's goals of growth and diversification. Judy Scott, general counsel, has announced her plans to retire effective December 31, 2015. Scott has been with PRA since 1998 and has been a key member of the executive leadership team throughout her tenure. Effective January 1, 2016, PRA will appoint Chris Lagow, currently deputy general counsel, to the role of senior vice president, general counsel. Scott will continue as corporate secretary for the next two years.


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Valuation PRAA Industry Range
Price/Earnings 12.6x
Price/Sales 2.6x
Price/Book 2.8x
Price/Cash Flow 11.2x
TEV/Sales 1.0x

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