GAMMA Investing LLC Buys 16,709 Shares of PRA Group, Inc. (NASDAQ:PRAA)

GAMMA Investing LLC raised its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 2,730.2% in the first quarter, according to its most recent filing with the SEC. The firm owned 17,321 shares of the business services provider’s stock after purchasing an additional 16,709 shares during the quarter. GAMMA Investing LLC’s holdings in PRA Group were worth $357,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PRAA. Mackenzie Financial Corp acquired a new stake in PRA Group during the 4th quarter worth about $353,000. PharVision Advisers LLC bought a new stake in shares of PRA Group during the 4th quarter valued at about $255,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PRA Group by 11.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,994 shares of the business services provider’s stock valued at $2,193,000 after purchasing an additional 10,817 shares in the last quarter. Squarepoint Ops LLC grew its stake in PRA Group by 50.3% during the fourth quarter. Squarepoint Ops LLC now owns 31,052 shares of the business services provider’s stock worth $649,000 after purchasing an additional 10,388 shares during the period. Finally, Two Sigma Investments LP bought a new stake in PRA Group in the fourth quarter worth approximately $276,000. Institutional investors own 97.22% of the company’s stock.

Insider Buying and Selling

In other PRA Group news, Director Brett Lee Paschke bought 5,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $13.39 per share, for a total transaction of $66,950.00. Following the acquisition, the director now directly owns 30,056 shares of the company’s stock, valued at approximately $402,449.84. The trade was a 19.96% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.00% of the stock is owned by company insiders.

PRA Group Price Performance

Shares of PRAA opened at $14.68 on Friday. The stock has a 50-day moving average of $15.49 and a 200-day moving average of $19.01. The company has a market cap of $582.19 million, a PE ratio of 8.20 and a beta of 1.53. PRA Group, Inc. has a one year low of $12.91 and a one year high of $27.54.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, May 5th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.32). The firm had revenue of $269.62 million during the quarter, compared to the consensus estimate of $288.63 million. PRA Group had a return on equity of 5.09% and a net margin of 6.27%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.09 EPS. Analysts expect that PRA Group, Inc. will post 2.1 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PRAA. JMP Securities cut their price target on PRA Group from $30.00 to $23.00 and set a “market outperform” rating on the stock in a report on Tuesday, May 6th. Wall Street Zen downgraded shares of PRA Group from a “hold” rating to a “sell” rating in a research report on Thursday, May 22nd.

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.