BNP Paribas Arbitrage SA increased its holdings in PRA Group, Inc. (NASDAQ:PRAA) by 73.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,612 shares of the business services provider’s stock after acquiring an additional 6,596 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in PRA Group were worth $592,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in PRAA. BlackRock Inc. increased its holdings in shares of PRA Group by 53,101.9% in the 1st quarter. BlackRock Inc. now owns 6,007,031 shares of the business services provider’s stock valued at $199,134,000 after acquiring an additional 5,995,740 shares during the period. Turtle Creek Asset Management Inc. increased its holdings in shares of PRA Group by 104.0% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 4,303,119 shares of the business services provider’s stock valued at $142,648,000 after acquiring an additional 2,194,100 shares during the period. Vanguard Group Inc. increased its holdings in shares of PRA Group by 9.4% in the 1st quarter. Vanguard Group Inc. now owns 4,186,390 shares of the business services provider’s stock valued at $138,779,000 after acquiring an additional 360,823 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of PRA Group by 16.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,526,255 shares of the business services provider’s stock valued at $50,595,000 after acquiring an additional 215,028 shares during the period. Finally, Bank of Montreal Can increased its holdings in shares of PRA Group by 3,110.4% in the 2nd quarter. Bank of Montreal Can now owns 186,843 shares of the business services provider’s stock valued at $7,081,000 after acquiring an additional 181,023 shares during the period.
A number of brokerages have recently commented on PRAA. Keefe, Bruyette & Woods began coverage on shares of PRA Group in a report on Wednesday, May 24th. They issued an “outperform” rating and a $40.00 target price on the stock. Zacks Investment Research cut shares of PRA Group from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, BidaskClub raised shares of PRA Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $38.00.
PRA Group, Inc. (NASDAQ:PRAA) opened at 29.35 on Wednesday. The firm has a market capitalization of $1.33 billion, a PE ratio of 17.90 and a beta of 1.50. PRA Group, Inc. has a 52 week low of $23.15 and a 52 week high of $42.70. The firm has a 50-day moving average of $33.22 and a 200 day moving average of $34.75.
PRA Group (NASDAQ:PRAA) last issued its earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.23). PRA Group had a return on equity of 4.69% and a net margin of 9.76%. The company had revenue of $200.30 million during the quarter, compared to analyst estimates of $208.97 million. During the same period in the prior year, the business earned $0.83 earnings per share. PRA Group’s quarterly revenue was down 12.3% on a year-over-year basis. Analysts predict that PRA Group, Inc. will post $2.09 earnings per share for the current year.
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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