BNP Paribas Arbitrage SA increased its stake in PRA Group, Inc. (NASDAQ:PRAA) by 51.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 23,594 shares of the business services provider’s stock after purchasing an additional 7,982 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.05% of PRA Group worth $676,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors also recently made changes to their positions in PRAA. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in PRA Group by 12.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,829 shares of the business services provider’s stock worth $107,000 after purchasing an additional 304 shares during the period. Public Employees Retirement System of Ohio boosted its stake in PRA Group by 10.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,150 shares of the business services provider’s stock worth $119,000 after purchasing an additional 305 shares during the period. UBS Group AG boosted its stake in PRA Group by 101.1% in the 1st quarter. UBS Group AG now owns 5,172 shares of the business services provider’s stock worth $171,000 after purchasing an additional 2,600 shares during the period. Advisor Group Inc. boosted its stake in PRA Group by 3.5% in the 2nd quarter. Advisor Group Inc. now owns 5,829 shares of the business services provider’s stock worth $221,000 after purchasing an additional 196 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in PRA Group in the 2nd quarter worth $223,000.
PRA Group, Inc. (NASDAQ:PRAA) opened at $35.35 on Wednesday. PRA Group, Inc. has a one year low of $25.72 and a one year high of $42.70. The company has a market cap of $1,571.88, a PE ratio of 54.38 and a beta of 1.59.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $0.34 EPS for the quarter, missing the Zacks’ consensus estimate of $0.38 by ($0.04). PRA Group had a return on equity of 2.98% and a net margin of 7.57%. The business had revenue of $201.00 million for the quarter, compared to analyst estimates of $196.96 million. During the same quarter in the prior year, the company earned $0.68 earnings per share. The company’s quarterly revenue was down 9.5% on a year-over-year basis. equities research analysts forecast that PRA Group, Inc. will post 1.38 EPS for the current year.
PRAA has been the subject of a number of research analyst reports. BidaskClub lowered shares of PRA Group from a “buy” rating to a “hold” rating in a research note on Friday, August 18th. Raymond James Financial reaffirmed an “underperform” rating on shares of PRA Group in a research note on Thursday, September 21st. Janney Montgomery Scott lowered shares of PRA Group from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 4th. Zacks Investment Research raised shares of PRA Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 21st. Finally, Citigroup lowered shares of PRA Group to an “underperform” rating in a research note on Thursday, September 21st. Two equities research analysts have rated the stock with a sell rating and four have issued a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $40.00.
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About PRA Group
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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