PRA Group, Inc. $PRAA Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its stake in shares of PRA Group, Inc. (NASDAQ:PRAA) by 14.8% in the 1st quarter, HoldingsChannel.com reports. The fund owned 798,049 shares of the business services provider’s stock after selling 139,063 shares during the quarter. Royal Bank of Canada’s holdings in PRA Group were worth $13,966,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PRAA. The Manufacturers Life Insurance Company boosted its position in PRA Group by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 14,523 shares of the business services provider’s stock valued at $214,000 after purchasing an additional 768 shares during the last quarter. Focus Partners Wealth increased its position in PRA Group by 1.0% in the 4th quarter. Focus Partners Wealth now owns 94,900 shares of the business services provider’s stock worth $1,679,000 after purchasing an additional 927 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of PRA Group by 8.8% during the 4th quarter. SG Americas Securities LLC now owns 12,051 shares of the business services provider’s stock worth $213,000 after purchasing an additional 974 shares in the last quarter. Mariner LLC raised its stake in shares of PRA Group by 3.2% during the 3rd quarter. Mariner LLC now owns 31,045 shares of the business services provider’s stock worth $479,000 after purchasing an additional 975 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of PRA Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider’s stock valued at $476,000 after buying an additional 1,020 shares during the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

PRA Group Stock Performance

PRAA opened at $19.79 on Friday. The company has a market cap of $754.79 million, a PE ratio of -2.94 and a beta of 1.11. The stock has a 50-day moving average of $17.09 and a 200-day moving average of $16.60. PRA Group, Inc. has a 52-week low of $10.25 and a 52-week high of $22.55.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.99. PRA Group had a positive return on equity of 15.86% and a negative net margin of 19.91%.The business had revenue of $372.17 million for the quarter, compared to the consensus estimate of $299.99 million. On average, research analysts predict that PRA Group, Inc. will post 2.52 earnings per share for the current year.

Analyst Upgrades and Downgrades

PRAA has been the topic of a number of research reports. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a report on Wednesday, June 24th. Wall Street Zen downgraded shares of PRA Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, PRA Group currently has an average rating of “Hold” and an average price target of $26.00.

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.