Renaissance Technologies LLC lowered its stake in shares of PRA Group, Inc. (NASDAQ:PRAA – Free Report) by 33.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 83,332 shares of the business services provider’s stock after selling 41,668 shares during the period. Renaissance Technologies LLC’s holdings in PRA Group were worth $1,458,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of PRA Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider’s stock worth $476,000 after purchasing an additional 1,020 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of PRA Group by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,004 shares of the business services provider’s stock valued at $2,248,000 after buying an additional 4,010 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of PRA Group by 28.8% during the second quarter. Cetera Investment Advisers now owns 14,446 shares of the business services provider’s stock valued at $213,000 after buying an additional 3,229 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in PRA Group by 59.1% during the second quarter. JPMorgan Chase & Co. now owns 217,861 shares of the business services provider’s stock worth $3,213,000 after buying an additional 80,945 shares in the last quarter. Finally, Invesco Ltd. grew its holdings in PRA Group by 15.5% during the second quarter. Invesco Ltd. now owns 819,742 shares of the business services provider’s stock worth $12,091,000 after buying an additional 109,857 shares in the last quarter. 97.22% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts recently commented on PRAA shares. Weiss Ratings reissued a “sell (d)” rating on shares of PRA Group in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of PRA Group from a “strong-buy” rating to a “buy” rating in a report on Sunday, June 7th. Finally, Zacks Research upgraded shares of PRA Group from a “hold” rating to a “strong-buy” rating in a research note on Monday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $26.00.
PRA Group Stock Up 4.5%
Shares of NASDAQ PRAA opened at $19.58 on Thursday. PRA Group, Inc. has a twelve month low of $10.25 and a twelve month high of $22.55. The stock’s 50 day moving average price is $17.37 and its 200-day moving average price is $16.66. The company has a market capitalization of $737.15 million, a PE ratio of -2.91 and a beta of 1.11.
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, beating the consensus estimate of $0.52 by $0.99. The company had revenue of $372.17 million during the quarter, compared to analyst estimates of $299.99 million. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%. As a group, research analysts expect that PRA Group, Inc. will post 3.93 EPS for the current fiscal 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.
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