Franklin Resources Inc. lessened its stake in PRA Group, Inc. (NASDAQ:PRAA) by 4.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 704,823 shares of the business services provider’s stock after selling 29,097 shares during the quarter. Franklin Resources Inc. owned approximately 1.52% of PRA Group worth $26,713,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of PRAA. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PRA Group by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,829 shares of the business services provider’s stock worth $107,000 after acquiring an additional 304 shares in the last quarter. Independence Advisors LLC purchased a new stake in PRA Group in the 2nd quarter worth $112,000. Huntington National Bank increased its holdings in PRA Group by 5.5% in the 2nd quarter. Huntington National Bank now owns 3,084 shares of the business services provider’s stock worth $117,000 after acquiring an additional 162 shares in the last quarter. Quantbot Technologies LP purchased a new stake in PRA Group in the 1st quarter worth $125,000. Finally, Ameritas Investment Partners Inc. purchased a new stake in PRA Group in the 1st quarter worth $132,000.
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Several equities research analysts recently commented on PRAA shares. BidaskClub raised shares of PRA Group from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Zacks Investment Research lowered shares of PRA Group from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. Finally, Keefe, Bruyette & Woods started coverage on shares of PRA Group in a report on Wednesday, May 24th. They issued an “outperform” rating and a $40.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.00.
Shares of PRA Group, Inc. (NASDAQ:PRAA) opened at 28.70 on Wednesday. PRA Group, Inc. has a one year low of $23.15 and a one year high of $42.70. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 17.50 and a beta of 1.50. The company has a 50-day moving average of $31.53 and a 200 day moving average of $34.35.
PRA Group (NASDAQ:PRAA) last released its earnings results on Tuesday, August 8th. The business services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.23). PRA Group had a net margin of 9.76% and a return on equity of 4.69%. The business had revenue of $200.30 million during the quarter, compared to analyst estimates of $208.97 million. During the same period last year, the business posted $0.83 EPS. PRA Group’s revenue was down 12.3% compared to the same quarter last year. On average, equities analysts forecast that PRA Group, Inc. will post $2.09 earnings per share for the current fiscal 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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