Geode Capital Management LLC Buys 14,197 Shares of PRA Group, Inc. $PRAA

Geode Capital Management LLC grew its stake in shares of PRA Group, Inc. (NASDAQ:PRAA) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 960,839 shares of the business services provider’s stock after purchasing an additional 14,197 shares during the period. Geode Capital Management LLC owned approximately 2.42% of PRA Group worth $14,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PRAA. Virtus Advisers LLC acquired a new position in PRA Group during the first quarter worth $147,000. AlphaQuest LLC raised its stake in shares of PRA Group by 43.4% during the 1st quarter. AlphaQuest LLC now owns 11,024 shares of the business services provider’s stock worth $227,000 after purchasing an additional 3,334 shares during the period. Headlands Technologies LLC boosted its stake in PRA Group by 67.4% in the first quarter. Headlands Technologies LLC now owns 12,185 shares of the business services provider’s stock valued at $251,000 after acquiring an additional 4,907 shares during the last quarter. Versor Investments LP bought a new position in PRA Group during the first quarter valued at $254,000. Finally, Y Intercept Hong Kong Ltd lifted its position in shares of PRA Group by 21.4% during the 2nd quarter. Y Intercept Hong Kong Ltd now owns 17,284 shares of the business services provider’s stock valued at $255,000 after buying an additional 3,050 shares during the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on PRAA. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a report on Monday, November 24th. Truist Financial reduced their price target on shares of PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a research report on Tuesday, November 4th. Wall Street Zen raised PRA Group from a “sell” rating to a “hold” rating in a research note on Saturday, August 9th. Zacks Research raised shares of PRA Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Finally, Citigroup restated an “outperform” rating on shares of PRA Group in a report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

PRA Group Stock Performance

Shares of PRA Group stock opened at $16.29 on Tuesday. The stock has a market capitalization of $635.55 million, a PE ratio of 6.99 and a beta of 1.41. PRA Group, Inc. has a 52-week low of $12.29 and a 52-week high of $23.97. The company has a 50-day simple moving average of $14.90 and a two-hundred day simple moving average of $15.38.

PRA Group (NASDAQ:PRAA) last posted its earnings results on Monday, November 3rd. The business services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. PRA Group had a return on equity of 6.52% and a net margin of 8.10%.The business had revenue of $247.08 million during the quarter, compared to analyst estimates of $295.77 million. As a group, equities research analysts forecast that PRA Group, Inc. will post 2.1 EPS for the current fiscal year.

Insider Transactions at PRA Group

In related news, Director Geir Olsen bought 15,000 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was acquired at an average price of $14.15 per share, with a total value of $212,250.00. Following the transaction, the director owned 58,933 shares in the company, valued at approximately $833,901.95. This trade represents a 34.14% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 2.00% of the company’s stock.

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.