Goldman Sachs Group Inc. Trims Stock Position in PRA Group, Inc. $PRAA

Goldman Sachs Group Inc. lessened its stake in shares of PRA Group, Inc. (NASDAQ:PRAA) by 3.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 233,434 shares of the business services provider’s stock after selling 7,683 shares during the quarter. Goldman Sachs Group Inc. owned about 0.59% of PRA Group worth $4,813,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PRAA. Virtus Advisers LLC acquired a new position in shares of PRA Group in the 1st quarter valued at $147,000. Point72 Asset Management L.P. acquired a new position in shares of PRA Group in the 4th quarter valued at $155,000. State of Wyoming increased its holdings in shares of PRA Group by 9.0% in the 4th quarter. State of Wyoming now owns 10,255 shares of the business services provider’s stock valued at $214,000 after acquiring an additional 850 shares during the period. Cetera Investment Advisers acquired a new position in shares of PRA Group in the 4th quarter valued at $227,000. Finally, AlphaQuest LLC increased its holdings in shares of PRA Group by 43.4% in the 1st quarter. AlphaQuest LLC now owns 11,024 shares of the business services provider’s stock valued at $227,000 after acquiring an additional 3,334 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

PRA Group Stock Performance

Shares of PRAA opened at $16.59 on Wednesday. The stock has a market capitalization of $648.17 million, a P/E ratio of 7.12 and a beta of 1.50. The company’s fifty day moving average is $16.26 and its two-hundred day moving average is $16.62. PRA Group, Inc. has a 1 year low of $12.91 and a 1 year high of $25.43.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Monday, August 4th. The business services provider reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.46. The company had revenue of $287.69 million for the quarter, compared to analysts’ expectations of $279.34 million. PRA Group had a net margin of 8.10% and a return on equity of 6.52%. Sell-side analysts predict that PRA Group, Inc. will post 2.1 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wall Street Zen raised shares of PRA Group from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Citigroup reaffirmed an “outperform” rating on shares of PRA Group in a report on Tuesday, August 5th. Finally, JMP Securities set a $24.00 target price on shares of PRA Group and gave the company a “market outperform” rating in a report on Tuesday, August 5th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, PRA Group currently has a consensus rating of “Buy” and an average price target of $27.50.

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.