OP Asset Management Ltd Makes New Investment in PRA Group, Inc. $PRAA

OP Asset Management Ltd acquired a new position in PRA Group, Inc. (NASDAQ:PRAA) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 27,620 shares of the business services provider’s stock, valued at approximately $483,000.

A number of other large investors also recently added to or reduced their stakes in PRAA. Los Angeles Capital Management LLC bought a new stake in PRA Group in the fourth quarter worth $27,000. EverSource Wealth Advisors LLC increased its holdings in shares of PRA Group by 145.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider’s stock worth $44,000 after buying an additional 1,471 shares during the period. Larson Financial Group LLC increased its holdings in shares of PRA Group by 146.8% in the fourth quarter. Larson Financial Group LLC now owns 2,848 shares of the business services provider’s stock worth $50,000 after buying an additional 1,694 shares during the period. Tower Research Capital LLC TRC boosted its holdings in PRA Group by 375.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 3,777 shares during the period. Finally, Globeflex Capital L P bought a new position in PRA Group during the 2nd quarter worth approximately $102,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Analyst Upgrades and Downgrades

PRAA has been the subject of several recent research reports. Wall Street Zen downgraded PRA Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 7th. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $25.00.

PRA Group Trading Up 1.3%

PRA Group stock opened at $18.99 on Wednesday. The firm has a market cap of $724.28 million, a P/E ratio of -2.65 and a beta of 1.14. PRA Group, Inc. has a 1-year low of $10.25 and a 1-year high of $22.55. The firm has a 50-day moving average of $17.14 and a 200-day moving average of $16.47.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Thursday, May 7th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.22. The company had revenue of $314.53 million for the quarter, compared to the consensus estimate of $295.90 million. PRA Group had a positive return on equity of 13.19% and a negative net margin of 22.51%. Research analysts forecast that PRA Group, Inc. will post 2.52 earnings per share 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.