Public Employees Retirement System of Ohio bought a new position in PRA Group, Inc. (NASDAQ:PRAA – Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 57,434 shares of the business services provider’s stock, valued at approximately $1,091,000.
A number of other large investors also recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new stake in shares of PRA Group during the fourth quarter valued at approximately $27,000. EverSource Wealth Advisors LLC raised its position in PRA Group by 145.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider’s stock worth $44,000 after purchasing an additional 1,471 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in PRA Group during the 2nd quarter worth $49,000. Larson Financial Group LLC lifted its holdings in PRA Group by 146.8% during the 4th quarter. Larson Financial Group LLC now owns 2,848 shares of the business services provider’s stock worth $50,000 after buying an additional 1,694 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in PRA Group by 375.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider’s stock valued at $71,000 after buying an additional 3,777 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Zacks Research raised PRA Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Wall Street Zen lowered PRA Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of PRA Group in a report on Wednesday, June 24th. One equities 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 given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $26.00.
PRA Group Price Performance
PRAA opened at $19.11 on Wednesday. The firm has a 50 day simple moving average of $18.52 and a 200 day simple moving average of $17.61. PRA Group, Inc. has a fifty-two week low of $10.25 and a fifty-two week high of $22.55. The company has a market cap of $719.49 million, a price-to-earnings ratio of -2.84 and a beta of 1.11.
PRA Group (NASDAQ:PRAA – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.99. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. The firm had revenue of $372.17 million for the quarter, compared to analysts’ expectations of $299.99 million. As a group, analysts expect that PRA Group, Inc. will post 3.93 EPS for the current year.
PRA Group 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.
Recommended Stories
- Five stocks we like better than PRA Group
- Tesla’s Robotaxi Launch Wasn’t the Moment Investors Expected
- Despite Post-Earnings Drop, Wall Street Analysts Eye New Highs for Broadcom Stock
- Morgan Stanley Eyes Good Things Ahead for Meta After $18 Billion Legal Settlement
- Q3 Earnings Could Be the Catalyst the Market Has Been Waiting For
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.
