Maryland State Retirement & Pension System Trims Stake in PRA Group, Inc. $PRAA

Maryland State Retirement & Pension System cut its holdings in PRA Group, Inc. (NASDAQ:PRAA) by 13.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 11,517 shares of the business services provider’s stock after selling 1,794 shares during the quarter. Maryland State Retirement & Pension System’s holdings in PRA Group were worth $237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Man Group plc purchased a new stake in shares of PRA Group in the fourth quarter valued at approximately $868,000. Assenagon Asset Management S.A. increased its position in shares of PRA Group by 85.3% in the first quarter. Assenagon Asset Management S.A. now owns 405,595 shares of the business services provider’s stock valued at $8,363,000 after buying an additional 186,724 shares in the last quarter. Northern Trust Corp increased its position in shares of PRA Group by 7.7% in the fourth quarter. Northern Trust Corp now owns 431,909 shares of the business services provider’s stock valued at $9,023,000 after buying an additional 31,031 shares in the last quarter. Millennium Management LLC increased its position in shares of PRA Group by 48.8% in the fourth quarter. Millennium Management LLC now owns 151,227 shares of the business services provider’s stock valued at $3,159,000 after buying an additional 49,623 shares in the last quarter. Finally, XTX Topco Ltd purchased a new stake in shares of PRA Group in the first quarter valued at approximately $504,000. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PRAA has been the topic of a number of research analyst reports. JMP Securities set a $24.00 price target on PRA Group and gave the stock a “market outperform” rating in a research note on Tuesday, August 5th. Citigroup reaffirmed an “outperform” rating on shares of PRA Group in a research note on Tuesday, August 5th. Finally, Wall Street Zen raised PRA Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th.

PRA Group Price Performance

Shares of NASDAQ:PRAA opened at $16.31 on Tuesday. The business’s 50 day moving average price is $15.47 and its 200-day moving average price is $17.43. The firm has a market capitalization of $637.23 million, a PE ratio of 7.00 and a beta of 1.54. PRA Group, Inc. has a 1 year low of $12.91 and a 1 year high of $25.43.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings data on Monday, August 4th. The business services provider reported $1.08 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.46. The company had revenue of $287.69 million for the quarter, compared to analyst estimates of $279.34 million. PRA Group had a return on equity of 6.52% and a net margin of 8.10%. As a group, analysts expect that PRA Group, Inc. will post 2.1 earnings per share for the current year.

PRA Group Company 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.