Corton Capital Inc. Buys 10,566 Shares of PRA Group, Inc. $PRAA

Corton Capital Inc. lifted its stake in shares of PRA Group, Inc. (NASDAQ:PRAA) by 84.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 23,067 shares of the business services provider’s stock after purchasing an additional 10,566 shares during the quarter. Corton Capital Inc.’s holdings in PRA Group were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Virtus Advisers LLC bought a new position in PRA Group during the first quarter worth $147,000. AlphaQuest LLC raised its holdings in shares of PRA Group by 43.4% in the first quarter. AlphaQuest LLC now owns 11,024 shares of the business services provider’s stock valued at $227,000 after purchasing an additional 3,334 shares during the last quarter. Headlands Technologies LLC increased its holdings in PRA Group by 67.4% during the first quarter. Headlands Technologies LLC now owns 12,185 shares of the business services provider’s stock worth $251,000 after buying an additional 4,907 shares during the last quarter. Versor Investments LP purchased a new stake in PRA Group during the first quarter worth about $254,000. Finally, Y Intercept Hong Kong Ltd increased its holdings in PRA Group by 21.4% in the 2nd quarter. Y Intercept Hong Kong Ltd now owns 17,284 shares of the business services provider’s stock worth $255,000 after acquiring an additional 3,050 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

PRA Group Stock Down 0.1%

PRAA stock opened at $13.71 on Monday. The firm’s fifty day simple moving average is $15.53 and its two-hundred day simple moving average is $15.55. The stock has a market capitalization of $535.70 million, a price-to-earnings ratio of 5.88 and a beta of 1.45. PRA Group, Inc. has a twelve month low of $12.91 and a twelve month high of $25.43.

PRA Group (NASDAQ:PRAA) last issued its earnings results on Monday, August 4th. The business services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.46. PRA Group had a net margin of 8.10% and a return on equity of 6.52%. The company had revenue of $287.69 million for the quarter, compared to analysts’ expectations of $279.34 million. As a group, equities research analysts expect that PRA Group, Inc. will post 2.1 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on PRAA shares. Wall Street Zen raised shares of PRA Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. JMP Securities set a $24.00 price objective on shares of PRA Group and gave the stock a “market outperform” rating in a report on Tuesday, August 5th. Weiss Ratings reiterated a “sell (d+)” rating on shares of PRA Group in a report on Wednesday, October 8th. Finally, Citigroup restated an “outperform” rating on shares of PRA Group in a report on Tuesday, August 5th. Three analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

PRA Group Profile

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.