OppenheimerFunds Inc. lowered its holdings in shares of Pra Group Inc (NASDAQ:PRAA) by 27.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,130 shares of the business services provider’s stock after selling 5,730 shares during the quarter. OppenheimerFunds Inc.’s holdings in Pra Group were worth $503,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in the stock. HAP Trading LLC purchased a new stake in shares of Pra Group during the fourth quarter worth about $1,147,000. Rhumbline Advisers grew its position in shares of Pra Group by 10.3% during the fourth quarter. Rhumbline Advisers now owns 108,675 shares of the business services provider’s stock worth $3,608,000 after purchasing an additional 10,189 shares in the last quarter. Arizona State Retirement System grew its position in shares of Pra Group by 223.6% during the fourth quarter. Arizona State Retirement System now owns 75,913 shares of the business services provider’s stock worth $2,520,000 after purchasing an additional 52,454 shares in the last quarter. Eagle Asset Management Inc. grew its position in shares of Pra Group by 1.2% during the fourth quarter. Eagle Asset Management Inc. now owns 139,641 shares of the business services provider’s stock worth $4,684,000 after purchasing an additional 1,638 shares in the last quarter. Finally, Pinebridge Investments L.P. grew its position in shares of Pra Group by 34.3% during the fourth quarter. Pinebridge Investments L.P. now owns 73,278 shares of the business services provider’s stock worth $2,433,000 after purchasing an additional 18,726 shares in the last quarter.
Several research firms have weighed in on PRAA. BidaskClub upgraded Pra Group from a “hold” rating to a “buy” rating in a report on Wednesday, February 7th. Zacks Investment Research upgraded Pra Group from a “sell” rating to a “hold” rating in a report on Wednesday, January 31st. Oppenheimer began coverage on Pra Group in a report on Monday, January 8th. They set a “hold” rating for the company. Raymond James Financial upgraded Pra Group from an “underperform” rating to a “market perform” rating in a report on Wednesday, February 28th. Finally, UBS began coverage on Pra Group in a report on Monday, January 8th. They set a “market perform” rating for the company. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $40.00.
In other Pra Group news, Director Penelope W. Kyle sold 1,975 shares of the firm’s stock in a transaction that occurred on Friday, December 29th. The stock was sold at an average price of $33.45, for a total transaction of $66,063.75. Following the completion of the transaction, the director now owns 36,425 shares in the company, valued at approximately $1,218,416.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.10% of the company’s stock.
Pra Group stock opened at $38.75 on Thursday. The firm has a market capitalization of $1,766.05, a P/E ratio of 29.36 and a beta of 1.50. Pra Group Inc has a 1-year low of $25.72 and a 1-year high of $40.55.
Pra Group (NASDAQ:PRAA) last released its quarterly earnings results on Tuesday, February 27th. The business services provider reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). The firm had revenue of $205.67 million for the quarter, compared to analysts’ expectations of $195.56 million. Pra Group had a net margin of 19.94% and a return on equity of 5.83%. analysts forecast that Pra Group Inc will post 1.77 earnings per share for the current year.
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Pra Group Company 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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