PRA Group, Inc. (NASDAQ:PRAA) Stake Raised by State Street Corp

State Street Corp raised its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA) by 1.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,502,427 shares of the business services provider’s stock after acquiring an additional 14,758 shares during the quarter. State Street Corp owned approximately 3.81% of PRA Group worth $33,594,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in PRAA. Global Alpha Capital Management Ltd. increased its position in PRA Group by 2.9% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 1,817,800 shares of the business services provider’s stock worth $40,646,000 after purchasing an additional 51,085 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of PRA Group by 1.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,743,076 shares of the business services provider’s stock valued at $34,268,000 after buying an additional 20,519 shares in the last quarter. Pinnacle Associates Ltd. increased its holdings in PRA Group by 86.3% in the third quarter. Pinnacle Associates Ltd. now owns 297,545 shares of the business services provider’s stock worth $6,653,000 after buying an additional 137,799 shares during the last quarter. Assenagon Asset Management S.A. raised its position in PRA Group by 14.7% during the third quarter. Assenagon Asset Management S.A. now owns 222,817 shares of the business services provider’s stock valued at $4,982,000 after acquiring an additional 28,582 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in PRA Group by 0.9% in the second quarter. Sei Investments Co. now owns 95,473 shares of the business services provider’s stock valued at $1,877,000 after acquiring an additional 826 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on PRAA. Truist Financial increased their price target on shares of PRA Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th.

PRA Group Trading Down 1.6 %

Shares of PRA Group stock opened at $20.84 on Friday. PRA Group, Inc. has a 1-year low of $18.64 and a 1-year high of $31.43. The firm has a fifty day simple moving average of $21.41 and a 200-day simple moving average of $21.61. The stock has a market capitalization of $821.66 million, a price-to-earnings ratio of 18.95 and a beta of 1.49.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings results on Monday, November 4th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.37. The company had revenue of $281.48 million during the quarter, compared to analysts’ expectations of $262.20 million. PRA Group had a net margin of 4.16% and a return on equity of 2.90%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.31) earnings per share. As a group, research analysts predict that PRA Group, Inc. will post 1.57 earnings per share for the current year.

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.