UBS Asset Management Americas Inc. boosted its stake in PRA Group, Inc. (NASDAQ:PRAA) by 18.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 24,473 shares of the business services provider’s stock after buying an additional 3,731 shares during the period. UBS Asset Management Americas Inc. owned about 0.05% of PRA Group worth $811,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PRAA. State of Alaska Department of Revenue raised its position in PRA Group by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 5,110 shares of the business services provider’s stock valued at $169,000 after buying an additional 90 shares in the last quarter. Louisiana State Employees Retirement System increased its stake in shares of PRA Group by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the business services provider’s stock valued at $627,000 after buying an additional 300 shares during the last quarter. US Bancorp DE increased its stake in shares of PRA Group by 1.8% in the first quarter. US Bancorp DE now owns 68,314 shares of the business services provider’s stock valued at $2,265,000 after buying an additional 1,206 shares during the last quarter. Nexus Investment Management Inc. increased its stake in shares of PRA Group by 0.4% in the first quarter. Nexus Investment Management Inc. now owns 428,250 shares of the business services provider’s stock valued at $14,197,000 after buying an additional 1,650 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of PRA Group by 3.4% in the first quarter. Comerica Bank now owns 52,098 shares of the business services provider’s stock valued at $1,701,000 after buying an additional 1,727 shares during the last quarter.
Shares of PRA Group, Inc. (PRAA) opened at 39.55 on Thursday. The company’s 50 day moving average is $37.28 and its 200 day moving average is $36.40. PRA Group, Inc. has a one year low of $23.15 and a one year high of $42.70. The company has a market cap of $1.84 billion, a P/E ratio of 18.20 and a beta of 1.48.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Tuesday, May 9th. The business services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by $0.06. PRA Group had a return on equity of 7.57% and a net margin of 12.47%. The company had revenue of $206.56 million for the quarter, compared to analysts’ expectations of $198.48 million. During the same quarter last year, the business posted $0.85 EPS. The business’s quarterly revenue was down 8.1% on a year-over-year basis. On average, equities analysts predict that PRA Group, Inc. will post $2.05 earnings per share for the current year.
Several brokerages recently commented on PRAA. Zacks Investment Research downgraded shares of PRA Group from a “hold” rating to a “sell” rating in a report on Thursday, July 13th. BidaskClub raised shares of PRA Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Finally, Keefe, Bruyette & Woods began coverage on shares of PRA Group in a report on Wednesday, May 24th. They set an “outperform” rating and a $40.00 target price for the company. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $38.00.
In other PRA Group news, Director Geir Olsen bought 142,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was purchased at an average price of $34.55 per share, for a total transaction of $4,906,100.00. Following the completion of the transaction, the director now directly owns 27,162 shares of the company’s stock, valued at $938,447.10. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 2.10% of the stock is owned by company insiders.
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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