PDT Partners LLC purchased a new stake in shares of PRA Group, Inc. (NASDAQ:PRAA – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 27,961 shares of the business services provider’s stock, valued at approximately $531,000. PDT Partners LLC owned 0.07% of PRA Group at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Canada Pension Plan Investment Board acquired a new position in PRA Group in the 2nd quarter worth approximately $313,000. Legal & General Group Plc acquired a new stake in PRA Group during the 2nd quarter valued at $537,000. The Manufacturers Life Insurance Company acquired a new stake in PRA Group during the 2nd quarter valued at $192,000. Algert Global LLC lifted its holdings in shares of PRA Group by 17.0% in the second quarter. Algert Global LLC now owns 47,500 shares of the business services provider’s stock valued at $902,000 after purchasing an additional 6,890 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of PRA Group in the second quarter valued at $1,114,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.
Analysts Set New Price Targets
Several analysts have recently commented on PRAA shares. Wall Street Zen raised PRA Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Zacks Research raised PRA Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $26.00.
PRA Group Stock Performance
Shares of PRAA opened at $19.29 on Friday. The company has a market capitalization of $726.23 million, a PE ratio of -2.87 and a beta of 1.11. The company’s 50 day moving average price is $18.32 and its 200 day moving average price is $17.17. PRA Group, Inc. has a 52 week low of $10.25 and a 52 week high of $22.55.
PRA Group (NASDAQ:PRAA – Get Free Report) last released its earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.99. The company had revenue of $372.17 million during the quarter, compared to the consensus estimate of $299.99 million. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. On average, equities analysts forecast that PRA Group, Inc. will post 3.93 earnings per share for the current fiscal year.
PRA Group Company Profile
PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.
The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.
See Also
- Five stocks we like better than PRA Group
- Nutanix’s Rally Has a Bigger Story Than Earnings as AMD’s AI Bet Takes Shape
- SEC Probe Puts Wall Street Leverage Risk Back in Focus
- A Bearish-Dollar Options Surge Raises the Stakes for Warsh at Jackson Hole
- Five Below’s Turnaround Is Working—But Has the Stock Run Too Far?
Want to see what other hedge funds are holding PRAA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PRA Group, Inc. (NASDAQ:PRAA – Free Report).
Receive News & Ratings for PRA Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PRA Group and related companies with MarketBeat.com's FREE daily email newsletter.
-logo-1200x675.jpg){kind=logo}
