Envestnet Asset Management Inc. Sells 6,035 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Envestnet Asset Management Inc. lowered its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA – Get Rating) by 15.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 33,155 shares of the business services provider’s stock after selling 6,035 shares during the period. Envestnet Asset Management Inc. owned about 0.09% of PRA Group worth $1,120,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Point72 Hong Kong Ltd grew its holdings in shares of PRA Group by 38.2% during the 1st quarter. Point72 Hong Kong Ltd now owns 1,050 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 290 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of PRA Group by 15.3% in the 2nd quarter. Captrust Financial Advisors now owns 2,387 shares of the business services provider’s stock worth $87,000 after purchasing an additional 317 shares during the period. IFP Advisors Inc lifted its position in shares of PRA Group by 28.3% in the 3rd quarter. IFP Advisors Inc now owns 1,597 shares of the business services provider’s stock worth $74,000 after purchasing an additional 352 shares during the period. Stephens Inc. AR lifted its position in PRA Group by 10.3% during the 3rd quarter. Stephens Inc. AR now owns 4,625 shares of the business services provider’s stock valued at $152,000 after acquiring an additional 430 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PRA Group by 12.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,755 shares of the business services provider’s stock worth $194,000 after acquiring an additional 641 shares in the last quarter.

Insider Buying and Selling

In related news, CEO Vikram A. Atal bought 40,000 shares of the company’s stock in a transaction that occurred on Thursday, May 18th. The stock was purchased at an average price of $18.81 per share, for a total transaction of $752,400.00. Following the completion of the transaction, the chief executive officer now owns 20,000 shares in the company, valued at $376,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Chairman Steven D. Fredrickson sold 10,000 shares of the stock in a transaction on Tuesday, February 28th. The shares were sold at an average price of $42.52, for a total value of $425,200.00. Following the sale, the chairman now owns 103,920 shares of the company’s stock, valued at $4,418,678.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Vikram A. Atal bought 40,000 shares of PRA Group stock in a transaction dated Thursday, May 18th. The stock was purchased at an average cost of $18.81 per share, for a total transaction of $752,400.00. Following the purchase, the chief executive officer now owns 20,000 shares of the company’s stock, valued at approximately $376,200. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRAA. TheStreet lowered shares of PRA Group from a “b-” rating to a “c+” rating in a research note on Tuesday, May 2nd. StockNews.com began coverage on shares of PRA Group in a report on Thursday, May 18th. They issued a “hold” rating for the company. JMP Securities decreased their target price on shares of PRA Group from $50.00 to $42.00 in a report on Tuesday, May 9th. Finally, Truist Financial decreased their price objective on shares of PRA Group from $50.00 to $42.00 in a report on Tuesday, May 9th.

PRA Group Trading Down 0.8 %

Shares of PRAA stock opened at $20.14 on Thursday. PRA Group, Inc. has a 12 month low of $17.74 and a 12 month high of $43.34. The stock has a market cap of $788.88 million, a P/E ratio of 44.76 and a beta of 1.16. The company has a 50 day simple moving average of $33.47 and a two-hundred day simple moving average of $35.59.

PRA Group (NASDAQ:PRAA – Get Rating) last posted its quarterly earnings results on Monday, May 8th. The business services provider reported ($1.50) earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($1.95). The firm had revenue of $155.50 million during the quarter, compared to the consensus estimate of $223.52 million. PRA Group had a return on equity of 1.50% and a net margin of 2.10%. The business’s revenue for the quarter was down 35.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.97 earnings per share. As a group, equities analysts forecast that PRA Group, Inc. will post -0.92 earnings per share for the current year.

PRA Group Profile

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PRA Group, Inc engages in the purchase, collection and management of portfolios of nonperforming loans. The firm purchase portfolios of nonperforming loans at a discount in two broad categories: Core and Insolvency. It also provides fee-based services on class action claims recoveries and by servicing consumer bankruptcy accounts in the United States.