Cerity Partners LLC Sells 27,465 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Cerity Partners LLC lowered its stake in PRA Group, Inc. (NASDAQ:PRAA) by 43.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,545 shares of the business services provider’s stock after selling 27,465 shares during the quarter. Cerity Partners LLC owned approximately 0.09% of PRA Group worth $931,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in PRAA. PNC Financial Services Group Inc. lifted its stake in shares of PRA Group by 1,032.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,512 shares of the business services provider’s stock valued at $67,000 after acquiring an additional 3,202 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of PRA Group in the 3rd quarter valued at about $179,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PRA Group by 40.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,447 shares of the business services provider’s stock valued at $181,000 after purchasing an additional 2,722 shares during the period. Jump Financial LLC bought a new position in PRA Group during the third quarter worth $217,000. Finally, Graham Capital Management L.P. acquired a new position in PRA Group in the third quarter valued at $303,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

PRA Group Trading Down 2.9 %

PRAA opened at $23.67 on Tuesday. The company has a market cap of $929.05 million, a P/E ratio of -11.11 and a beta of 1.46. The company has a fifty day moving average price of $24.97 and a two-hundred day moving average price of $22.06. PRA Group, Inc. has a 1-year low of $11.85 and a 1-year high of $38.17.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Thursday, February 15th. The business services provider reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.13. PRA Group had a negative return on equity of 6.82% and a negative net margin of 10.40%. The business had revenue of $221.42 million for the quarter, compared to the consensus estimate of $208.25 million. During the same period in the prior year, the business earned $0.41 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, research analysts forecast that PRA Group, Inc. will post 0.35 EPS for the current fiscal year.

Insider Activity

In other news, CEO Vikram A. Atal sold 5,830 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $24.39, for a total value of $142,193.70. Following the completion of the sale, the chief executive officer now directly owns 155,625 shares of the company’s stock, valued at $3,795,693.75. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on PRAA. JMP Securities lifted their price objective on PRA Group from $26.00 to $33.00 and gave the stock a “market outperform” rating in a research report on Friday, February 16th. StockNews.com raised PRA Group from a “sell” rating to a “hold” rating in a research note on Friday, February 16th.

PRA Group Profile

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. 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.