California State Teachers Retirement System reduced its holdings in Pra Group Inc (NASDAQ:PRAA) by 9.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 73,531 shares of the business services provider’s stock after selling 7,843 shares during the quarter. California State Teachers Retirement System’s holdings in Pra Group were worth $2,107,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Pra Group by 12.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,829 shares of the business services provider’s stock worth $107,000 after purchasing an additional 304 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Pra Group by 10.7% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,150 shares of the business services provider’s stock worth $119,000 after purchasing an additional 305 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Pra Group during the 3rd quarter worth about $189,000. Advisor Group Inc. increased its stake in shares of Pra Group by 3.5% during the 2nd quarter. Advisor Group Inc. now owns 5,829 shares of the business services provider’s stock worth $221,000 after purchasing an additional 196 shares during the last quarter. Finally, Amalgamated Bank increased its stake in shares of Pra Group by 2.5% during the 2nd quarter. Amalgamated Bank now owns 6,393 shares of the business services provider’s stock worth $242,000 after purchasing an additional 154 shares during the last quarter.
PRAA has been the topic of several recent analyst reports. Raymond James Financial restated an “underperform” rating on shares of Pra Group in a research note on Thursday, September 21st. Zacks Investment Research lowered shares of Pra Group from a “hold” rating to a “strong sell” rating in a research note on Tuesday, January 9th. Janney Montgomery Scott upgraded shares of Pra Group from a “sell” rating to a “neutral” rating in a research note on Thursday, November 9th. Keefe, Bruyette & Woods downgraded shares of Pra Group from an “outperform” rating to a “market perform” rating and lifted their target price for the stock from $36.00 to $40.00 in a report on Tuesday, October 10th. Finally, Citigroup downgraded shares of Pra Group to an “underperform” rating in a report on Thursday, September 21st. Three research analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $40.00.
Pra Group (NASDAQ:PRAA) last announced its earnings results on Wednesday, November 8th. The business services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). The company had revenue of $201.00 million for the quarter, compared to the consensus estimate of $196.96 million. Pra Group had a return on equity of 6.35% and a net margin of 8.40%. The business’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.68 EPS. equities analysts predict that Pra Group Inc will post 1.38 earnings per share for the current year.
In related news, Director Penelope W. Kyle sold 1,975 shares of Pra Group stock in a transaction dated Friday, December 29th. The shares were sold at an average price of $33.45, for a total transaction of $66,063.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.10% of the company’s stock.
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Pra Group Profile
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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