Portfolio Recovery Associates (PRAA) reported second quarter net income of $1.87 per share after the close, compared to the $1.48 per share last year. The consensus estimate was for EPS of $1.64.
Portfolio Recovery Associates gapped open higher Thursday and rose steadily throughout the first 45 minutes of trade, before settling into a range. Shares finished up by 14.78 at $99.91, with volume at over a 10-month high. The stock surged past the upper end of a one-month range and set a new high for the year.
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