JPMorgan Chase & Co. Buys 21,476 Shares of PRA Group, Inc. (NASDAQ:PRAA)

JPMorgan Chase & Co. raised its holdings in PRA Group, Inc. (NASDAQ:PRAA) by 40.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 74,937 shares of the business services provider’s stock after acquiring an additional 21,476 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.19% of PRA Group worth $1,676,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. Geode Capital Management LLC grew its position in PRA Group by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 929,184 shares of the business services provider’s stock valued at $20,781,000 after acquiring an additional 19,134 shares during the last quarter. Barclays PLC grew its position in PRA Group by 55.0% in the 3rd quarter. Barclays PLC now owns 117,053 shares of the business services provider’s stock valued at $2,618,000 after acquiring an additional 41,525 shares during the last quarter. Jane Street Group LLC grew its position in PRA Group by 92.8% in the 3rd quarter. Jane Street Group LLC now owns 88,634 shares of the business services provider’s stock valued at $1,982,000 after acquiring an additional 42,656 shares during the last quarter. State Street Corp grew its position in PRA Group by 1.0% in the 3rd quarter. State Street Corp now owns 1,502,427 shares of the business services provider’s stock valued at $33,594,000 after acquiring an additional 14,758 shares during the last quarter. Finally, Systematic Financial Management LP bought a new position in PRA Group in the 3rd quarter valued at $569,000. Institutional investors own 97.22% of the company’s stock.

PRA Group Trading Down 0.7 %

PRAA opened at $21.24 on Thursday. PRA Group, Inc. has a 12-month low of $18.64 and a 12-month high of $31.43. The business’s fifty day simple moving average is $21.08 and its 200-day simple moving average is $21.74. The company has a market capitalization of $837.49 million, a price-to-earnings ratio of 19.31 and a beta of 1.48.

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

Wall Street Analyst Weigh In

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

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.