BB&T Securities LLC Takes Position in PRA Group, Inc. (PRAA)
BB&T Securities LLC purchased a new stake in PRA Group, Inc. (NASDAQ:PRAA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 34,217 shares of the business services provider’s stock, valued at approximately $1,296,000. BB&T Securities LLC owned about 0.07% of PRA Group at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also modified their holdings of the company. Chartwell Investment Partners LLC boosted its position in shares of PRA Group by 15.1% in the second quarter. Chartwell Investment Partners LLC now owns 580,319 shares of the business services provider’s stock valued at $21,994,000 after buying an additional 76,165 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in PRA Group by 73.2% in the second quarter. BNP Paribas Arbitrage SA now owns 15,612 shares of the business services provider’s stock worth $592,000 after buying an additional 6,596 shares during the period. Legal & General Group Plc boosted its position in PRA Group by 11.9% in the second quarter. Legal & General Group Plc now owns 91,540 shares of the business services provider’s stock worth $3,470,000 after buying an additional 9,735 shares during the period. Pitcairn Co. boosted its position in PRA Group by 9.1% in the second quarter. Pitcairn Co. now owns 11,442 shares of the business services provider’s stock worth $434,000 after buying an additional 953 shares during the period. Finally, Wedbush Securities Inc. boosted its position in PRA Group by 4.2% in the second quarter. Wedbush Securities Inc. now owns 9,229 shares of the business services provider’s stock worth $350,000 after buying an additional 374 shares during the period.
PRA Group, Inc. (NASDAQ PRAA) opened at 29.75 on Friday. The stock has a market cap of $1.34 billion, a PE ratio of 18.14 and a beta of 1.49. PRA Group, Inc. has a 1-year low of $23.15 and a 1-year high of $42.70. The company’s 50 day moving average is $36.14 and its 200-day moving average is $35.69.
PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by $0.23. The firm had revenue of $200.30 million during the quarter, compared to analyst estimates of $208.97 million. PRA Group had a net margin of 9.76% and a return on equity of 4.69%. The business’s quarterly revenue was down 12.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.83 earnings per share. Equities research analysts forecast that PRA Group, Inc. will post $2.09 earnings per share for the current fiscal year.
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A number of research analysts recently weighed in on PRAA shares. Zacks Investment Research upgraded shares of PRA Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Keefe, Bruyette & Woods started coverage on shares of PRA Group in a research note on Wednesday, May 24th. They set an “outperform” rating and a $40.00 target price on the stock. Finally, BidaskClub upgraded shares of PRA Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $38.00.
About PRA Group
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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