Sterling Capital Management LLC raised its stake in PRA Group, Inc. (NASDAQ:PRAA) by 17.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,013 shares of the business services provider’s stock after buying an additional 7,322 shares during the period. Sterling Capital Management LLC owned about 0.11% of PRA Group worth $1,858,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. increased its holdings in shares of PRA Group by 145.3% in the 2nd quarter. Goldman Sachs Group Inc. now owns 142,001 shares of the business services provider’s stock worth $5,382,000 after buying an additional 84,112 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of PRA Group by 6.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 264,171 shares of the business services provider’s stock worth $8,758,000 after buying an additional 17,070 shares during the last quarter. Oak Ridge Investments LLC increased its holdings in shares of PRA Group by 0.9% in the 2nd quarter. Oak Ridge Investments LLC now owns 1,077,845 shares of the business services provider’s stock worth $40,850,000 after buying an additional 9,745 shares during the last quarter. BNP Paribas Arbitrage SA increased its holdings in shares of PRA Group by 73.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 15,612 shares of the business services provider’s stock worth $592,000 after buying an additional 6,596 shares during the last quarter. Finally, Boston Partners increased its holdings in shares of PRA Group by 2.0% in the 2nd quarter. Boston Partners now owns 414,651 shares of the business services provider’s stock worth $15,715,000 after buying an additional 8,027 shares during the last quarter.
Shares of PRA Group, Inc. (NASDAQ:PRAA) traded up 0.90% during midday trading on Friday, reaching $27.90. 300,525 shares of the company’s stock traded hands. The company has a 50-day moving average of $28.66 and a 200-day moving average of $33.51. PRA Group, Inc. has a one year low of $23.15 and a one year high of $42.70. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of 17.01 and a beta of 1.49.
PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.23). The business had revenue of $200.30 million for the quarter, compared to analyst estimates of $208.97 million. PRA Group had a return on equity of 4.69% and a net margin of 9.76%. The firm’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.83 earnings per share. Equities research analysts anticipate that PRA Group, Inc. will post $1.86 EPS for the current year.
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PRAA has been the topic of a number of research analyst reports. Raymond James Financial, Inc. reissued an “underperform” rating on shares of PRA Group in a report on Thursday, September 21st. BidaskClub raised shares of PRA Group from a “hold” rating to a “buy” rating in a report on Thursday, August 10th. Keefe, Bruyette & Woods lowered shares of PRA Group from an “outperform” rating to a “market perform” rating and increased their target price for the company from $36.00 to $40.00 in a report on Tuesday, October 10th. Janney Montgomery Scott lowered shares of PRA Group from a “neutral” rating to a “sell” rating in a report on Wednesday, October 4th. Finally, Citigroup Inc. lowered shares of PRA Group to an “underperform” rating in a report on Thursday, September 21st. Four analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The company has an average rating of “Sell” and a consensus price target of $36.00.
PRA Group Profile
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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