Bank of New York Mellon Corp Sells 94,200 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Bank of New York Mellon Corp trimmed its position in PRA Group, Inc. (NASDAQ:PRAA) by 6.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,426,092 shares of the business services provider’s stock after selling 94,200 shares during the quarter. Bank of New York Mellon Corp owned 3.62% of PRA Group worth $28,037,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in PRAA. PNC Financial Services Group Inc. increased its holdings in shares of PRA Group by 11.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock valued at $103,000 after purchasing an additional 419 shares during the period. Texas Permanent School Fund Corp lifted its stake in shares of PRA Group by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 34,176 shares of the business services provider’s stock valued at $891,000 after purchasing an additional 504 shares during the last quarter. CWM LLC raised its holdings in shares of PRA Group by 90.5% in the 4th quarter. CWM LLC now owns 1,189 shares of the business services provider’s stock valued at $31,000 after buying an additional 565 shares during the period. Quadrature Capital Ltd increased its holdings in PRA Group by 10.7% during the 1st quarter. Quadrature Capital Ltd now owns 19,167 shares of the business services provider’s stock worth $500,000 after purchasing an additional 1,846 shares during the period. Finally, William Blair Investment Management LLC increased its holdings in PRA Group by 0.3% during the 1st quarter. William Blair Investment Management LLC now owns 1,061,093 shares of the business services provider’s stock worth $27,673,000 after purchasing an additional 2,864 shares during the period. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

PRA Group Price Performance

PRAA opened at $21.84 on Thursday. The company has a market capitalization of $860.93 million, a price-to-earnings ratio of -40.44 and a beta of 1.49. PRA Group, Inc. has a 1-year low of $11.85 and a 1-year high of $31.43. The business has a 50 day moving average price of $22.31 and a two-hundred day moving average price of $23.23.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Monday, August 5th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.46. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. The firm had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $245.04 million. During the same period in the prior year, the company posted ($0.10) earnings per share. PRA Group’s revenue for the quarter was up 35.9% on a year-over-year basis. Equities analysts expect that PRA Group, Inc. will post 1.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

PRAA has been the subject of a number of recent research reports. StockNews.com raised PRA Group from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Truist Financial decreased their price objective on PRA Group from $42.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th.

Insider Buying and Selling

In other PRA Group news, Director Geir Olsen acquired 11,750 shares of PRA Group stock in a transaction on Wednesday, August 7th. The shares were purchased at an average cost of $21.39 per share, with a total value of $251,332.50. Following the completion of the purchase, the director now owns 11,750 shares in the company, valued at $251,332.50. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.00% of the company’s stock.

About PRA Group

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.