Synovus Financial Corp Purchases Shares of 21,322 PRA Group, Inc. (PRAA)

Synovus Financial Corp purchased a new position in shares of PRA Group, Inc. (NASDAQ:PRAA) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,322 shares of the business services provider’s stock, valued at approximately $616,000.

Several other large investors have also recently added to or reduced their stakes in PRAA. Dimensional Fund Advisors LP lifted its stake in shares of PRA Group by 8.8% in the third quarter. Dimensional Fund Advisors LP now owns 1,897,547 shares of the business services provider’s stock worth $54,366,000 after acquiring an additional 152,883 shares during the period. State Street Corp lifted its stake in shares of PRA Group by 3.5% in the second quarter. State Street Corp now owns 1,143,509 shares of the business services provider’s stock worth $43,341,000 after acquiring an additional 39,117 shares during the period. Cooke & Bieler LP lifted its stake in shares of PRA Group by 0.8% in the second quarter. Cooke & Bieler LP now owns 1,136,490 shares of the business services provider’s stock worth $43,073,000 after acquiring an additional 9,400 shares during the period. Oak Ridge Investments LLC lifted its stake in shares of PRA Group by 0.9% in the second quarter. Oak Ridge Investments LLC now owns 1,077,845 shares of the business services provider’s stock worth $40,850,000 after acquiring an additional 9,745 shares during the period. Finally, Royal Bank of Canada lifted its stake in shares of PRA Group by 1.7% in the second quarter. Royal Bank of Canada now owns 819,981 shares of the business services provider’s stock worth $31,079,000 after acquiring an additional 13,793 shares during the period.

PRA Group, Inc. (NASDAQ:PRAA) opened at $35.10 on Friday. PRA Group, Inc. has a 12 month low of $25.72 and a 12 month high of $42.70. The stock has a market capitalization of $1,576.40, a P/E ratio of 54.53 and a beta of 1.59.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.38 by ($0.04). PRA Group had a net margin of 7.57% and a return on equity of 2.98%. The business had revenue of $201.00 million during the quarter, compared to analyst estimates of $196.96 million. During the same period last year, the firm posted $0.68 earnings per share. PRA Group’s quarterly revenue was down 9.5% compared to the same quarter last year. equities research analysts anticipate that PRA Group, Inc. will post 1.38 EPS for the current fiscal year.

A number of research firms recently commented on PRAA. BidaskClub raised PRA Group from a “hold” rating to a “buy” rating in a research note on Thursday, August 10th. Janney Montgomery Scott lowered PRA Group from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 4th. Zacks Investment Research raised PRA Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 21st. Keefe, Bruyette & Woods lowered PRA Group from an “outperform” rating to a “market perform” rating and boosted their price target for the company from $36.00 to $40.00 in a research note on Tuesday, October 10th. Finally, Citigroup lowered PRA Group to an “underperform” rating in a research note on Thursday, September 21st. Two research analysts have rated the stock with a sell rating and four have given a hold rating to the company’s stock. PRA Group currently has a consensus rating of “Hold” and an average target price of $40.00.

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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.

Institutional Ownership by Quarter for PRA Group (NASDAQ:PRAA)

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