Public Sector Pension investment Board Reduces Stake in PRA Group, Inc. (PRAA)
Public Sector Pension investment Board decreased its holdings in PRA Group, Inc. (NASDAQ:PRAA) by 28.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,932 shares of the business services provider’s stock after selling 9,600 shares during the period. Public Sector Pension investment Board owned about 0.05% of PRA Group worth $907,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also modified their holdings of PRAA. First Trust Advisors LP lifted its position in shares of PRA Group by 15.5% in the first quarter. First Trust Advisors LP now owns 52,632 shares of the business services provider’s stock worth $1,745,000 after purchasing an additional 7,080 shares in the last quarter. Comerica Bank boosted its holdings in shares of PRA Group by 3.4% during the first quarter. Comerica Bank now owns 52,098 shares of the business services provider’s stock worth $1,701,000 after purchasing an additional 1,727 shares during the period. Swiss National Bank grew its position in PRA Group by 2.6% during the first quarter. Swiss National Bank now owns 76,400 shares of the business services provider’s stock valued at $2,533,000 after purchasing an additional 1,900 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in PRA Group by 18.0% during the first quarter. UBS Asset Management Americas Inc. now owns 24,473 shares of the business services provider’s stock valued at $811,000 after purchasing an additional 3,731 shares in the last quarter. Finally, Karp Capital Management Corp purchased a new position in PRA Group during the first quarter valued at approximately $438,000.
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PRA Group, Inc. (NASDAQ:PRAA) opened at 30.15 on Wednesday. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 18.38 and a beta of 1.49. The firm has a 50-day moving average price of $29.17 and a 200 day moving average price of $33.96. PRA Group, Inc. has a 12 month low of $23.15 and a 12 month high of $42.70.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.48 by ($0.23). The company had revenue of $200.30 million during the quarter, compared to the consensus estimate of $208.97 million. PRA Group had a net margin of 9.76% and a return on equity of 4.69%. The company’s 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. On average, equities analysts forecast that PRA Group, Inc. will post $1.94 EPS for the current year.
PRAA has been the topic of several research reports. Janney Montgomery Scott lowered shares of PRA Group from a “neutral” rating to a “sell” rating in a research note on Wednesday. BidaskClub upgraded shares of PRA Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered shares of PRA Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. Citigroup Inc. lowered shares of PRA Group to an “underperform” rating in a research note on Thursday, September 21st. Finally, Raymond James Financial, Inc. restated an “underperform” rating on shares of PRA Group in a report on Thursday, September 21st. Four analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $38.00.
PRA Group Company Profile
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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