Invenomic Capital Management LP Purchases 53,068 Shares of PRA Group, Inc. $PRAA

Invenomic Capital Management LP increased its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 14.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 415,481 shares of the business services provider’s stock after acquiring an additional 53,068 shares during the period. Invenomic Capital Management LP owned about 1.06% of PRA Group worth $6,415,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of PRA Group by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,523 shares of the business services provider’s stock valued at $214,000 after purchasing an additional 768 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of PRA Group by 7.1% during the 3rd quarter. Arizona State Retirement System now owns 11,728 shares of the business services provider’s stock worth $181,000 after buying an additional 781 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of PRA Group by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider’s stock worth $476,000 after buying an additional 1,020 shares during the last quarter. GAMMA Investing LLC boosted its stake in PRA Group by 301.0% in the third quarter. GAMMA Investing LLC now owns 1,684 shares of the business services provider’s stock valued at $26,000 after buying an additional 1,264 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in PRA Group by 6.4% in the third quarter. Illinois Municipal Retirement Fund now owns 21,489 shares of the business services provider’s stock valued at $332,000 after acquiring an additional 1,297 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on PRAA shares. Citigroup downgraded shares of PRA Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 28th. Zacks Research downgraded shares of PRA Group from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 5th. Citizens Jmp lowered shares of PRA Group from a “market outperform” rating to a “market perform” rating in a research report on Wednesday, January 28th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $25.00.

PRA Group Price Performance

NASDAQ:PRAA opened at $16.73 on Monday. PRA Group, Inc. has a one year low of $10.25 and a one year high of $22.01. The company has a market cap of $643.27 million, a PE ratio of -2.14 and a beta of 1.23. The firm’s 50 day simple moving average is $14.55 and its 200 day simple moving average is $15.44.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings results on Thursday, February 26th. The business services provider reported $1.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.96. The firm had revenue of $333.39 million during the quarter, compared to the consensus estimate of $288.86 million. PRA Group had a negative net margin of 25.39% and a positive return on equity of 10.50%. Equities research analysts expect that PRA Group, Inc. will post 2.1 EPS for the current year.

About PRA Group

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.