Praa is almost $120 a share. They made a killing buying all that debt after the 2008 financial crisis. By servicing in house with their 2,000 employees they controlled their own destiny and costs. With asta not much in the debt buying game after their "big purchase" issues, companies like praa and ecpg got bigger and better. Wow, praa is one will managed company with really great management. Just look at their stock performance.
companies that develope their business internally like praa and that do not have to rely on joint ventures and give away profit in the form of participations will be rewarded by investors that will buy the stock for what they see as being very smart business leaders and if they make money like praa and ecpg their stock price will reflect this in a very positive way.
buying debt is still a great business if you have the best people to buy and service the debt.
Expenses appear to be about $1.5 million to high for the quarter. With declining collections, expenses should also be declining but are in increasing. Looks like its being run like a private company. BIG QUESTION WHEN WILL EXPENSES START TO GO DOWN LIKE COLLECTIONS.
Yep and they also appeared concerned about not losing control after their recent preferred stock filing, why not, the Company is like a cash ATM for the family and other execs and Directors. Is this stock ever going to $40+ again, PRAA passed $100. ECPG is also doing GREAT, ASFI still under $10 for how long now?????????????????