Natixis Advisors L.P. bought a new stake in PRA Group, Inc. (NASDAQ:PRAA – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 15,851 shares of the business services provider’s stock, valued at approximately $618,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of PRA Group by 1.2% in the first quarter. Vanguard Group Inc. now owns 4,654,871 shares of the business services provider’s stock valued at $209,842,000 after purchasing an additional 53,991 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in PRA Group by 11.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 3,139,639 shares of the business services provider’s stock worth $106,058,000 after buying an additional 312,113 shares during the period. Dimensional Fund Advisors LP boosted its stake in PRA Group by 7.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,337,073 shares of the business services provider’s stock worth $78,945,000 after buying an additional 151,958 shares during the period. State Street Corp boosted its stake in PRA Group by 2.5% during the first quarter. State Street Corp now owns 1,570,424 shares of the business services provider’s stock worth $70,795,000 after buying an additional 38,201 shares during the period. Finally, abrdn plc boosted its stake in PRA Group by 17.9% during the fourth quarter. abrdn plc now owns 1,415,827 shares of the business services provider’s stock worth $47,827,000 after buying an additional 214,908 shares during the period. 97.06% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms have commented on PRAA. Raymond James dropped their price objective on shares of PRA Group from $42.00 to $33.00 in a research note on Thursday, June 8th. StockNews.com raised shares of PRA Group from a “sell” rating to a “hold” rating in a research note on Monday. Finally, TheStreet lowered shares of PRA Group from a “c-” rating to a “d” rating in a research note on Tuesday, August 1st.
PRA Group Trading Down 0.8 %
Shares of PRAA opened at $19.16 on Thursday. The firm has a fifty day moving average price of $21.58 and a 200-day moving average price of $28.27. The firm has a market capitalization of $751.88 million, a P/E ratio of -34.21 and a beta of 1.26. PRA Group, Inc. has a 12-month low of $17.74 and a 12-month high of $43.34.
PRA Group (NASDAQ:PRAA – Get Free Report) last released its quarterly earnings data on Monday, August 7th. The business services provider reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.06. The firm had revenue of $209.24 million during the quarter, compared to the consensus estimate of $205.10 million. PRA Group had a negative return on equity of 1.76% and a negative net margin of 2.61%. The firm’s quarterly revenue was down 19.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.91 earnings per share. Analysts predict that PRA Group, Inc. will post -2.31 earnings per share for the current year.
Insider Activity at PRA Group
In other news, Chairman Steven D. Fredrickson acquired 26,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 29th. The stock was purchased at an average cost of $19.31 per share, for a total transaction of $502,060.00. Following the completion of the acquisition, the chairman now directly owns 139,709 shares of the company’s stock, valued at approximately $2,697,780.79. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.00% of the stock is currently owned by corporate insiders.
PRA Group Profile
PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans in the Americas, Europe, and Australia. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.
Featured Articles
- Five stocks we like better than PRA Group
- How to Buy Cheap Stocks Step by Step
- These Quality Dividend Kings Grow their Dividends the Fastest
- Investing in Commodities: What Are They? How to Invest in Them
- 3 Growth Stocks to Buy in September
- Market Cap Calculator: How to Calculate Market Cap
- 3 Underappreciated Stocks with Nowhere to Go But Up
Receive News & Ratings for PRA Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PRA Group and related companies with MarketBeat.com's FREE daily email newsletter.
