Clearstead Advisors LLC Sells 83,812 Shares of PRA Group, Inc. $PRAA

Clearstead Advisors LLC lessened its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 58.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,007 shares of the business services provider’s stock after selling 83,812 shares during the period. Clearstead Advisors LLC owned approximately 0.15% of PRA Group worth $927,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of PRA Group in the second quarter valued at about $150,000. Advent Capital Management DE bought a new stake in PRA Group in the 2nd quarter valued at about $84,000. Wolverine Asset Management LLC increased its holdings in shares of PRA Group by 49.2% during the second quarter. Wolverine Asset Management LLC now owns 84,588 shares of the business services provider’s stock worth $1,248,000 after purchasing an additional 27,890 shares during the period. Global Alpha Capital Management Ltd. raised its position in shares of PRA Group by 4.6% in the second quarter. Global Alpha Capital Management Ltd. now owns 2,111,800 shares of the business services provider’s stock valued at $31,149,000 after buying an additional 93,600 shares in the last quarter. Finally, Squarepoint Ops LLC raised its position in shares of PRA Group by 437.3% in the second quarter. Squarepoint Ops LLC now owns 93,999 shares of the business services provider’s stock valued at $1,386,000 after buying an additional 76,505 shares in the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on PRAA shares. Citigroup lowered PRA Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 28th. Zacks Research cut PRA Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Citizens Jmp cut shares of PRA Group from a “market outperform” rating to a “market perform” rating in a research report on Wednesday, January 28th. Truist Financial decreased their target price on shares of PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a research report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $25.00.

PRA Group Trading Up 8.1%

PRAA stock opened at $11.70 on Thursday. The firm has a 50-day moving average price of $14.67 and a 200-day moving average price of $15.41. PRA Group, Inc. has a 12 month low of $10.25 and a 12 month high of $22.32. The stock has a market capitalization of $456.42 million, a P/E ratio of -1.33 and a beta of 1.29.

About PRA Group

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.