OppenheimerFunds Inc. lowered its stake in Pra Group Inc (NASDAQ:PRAA) by 13.5% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 13,094 shares of the business services provider’s stock after selling 2,036 shares during the quarter. OppenheimerFunds Inc.’s holdings in Pra Group were worth $498,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in PRAA. Stephens Investment Management Group LLC bought a new stake in Pra Group in the first quarter valued at approximately $27,446,000. Great West Life Assurance Co. Can lifted its position in Pra Group by 380.6% in the first quarter. Great West Life Assurance Co. Can now owns 286,804 shares of the business services provider’s stock valued at $10,868,000 after purchasing an additional 227,126 shares during the last quarter. Boston Partners lifted its position in Pra Group by 44.2% in the first quarter. Boston Partners now owns 683,914 shares of the business services provider’s stock valued at $25,989,000 after purchasing an additional 209,736 shares during the last quarter. Millennium Management LLC lifted its position in Pra Group by 168.1% in the fourth quarter. Millennium Management LLC now owns 308,370 shares of the business services provider’s stock valued at $10,238,000 after purchasing an additional 193,368 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Pra Group by 7.0% in the first quarter. Dimensional Fund Advisors LP now owns 2,365,883 shares of the business services provider’s stock valued at $89,904,000 after purchasing an additional 154,317 shares during the last quarter.
Several brokerages have weighed in on PRAA. Oppenheimer reiterated a “hold” rating on shares of Pra Group in a research report on Wednesday, June 6th. ValuEngine downgraded Pra Group from a “buy” rating to a “hold” rating in a research report on Saturday, June 2nd. BidaskClub upgraded Pra Group from a “sell” rating to a “hold” rating in a research report on Monday, May 14th. Zacks Investment Research downgraded Pra Group from a “buy” rating to a “hold” rating in a research report on Monday, March 12th. Finally, Raymond James upgraded Pra Group from an “underperform” rating to a “market perform” rating in a research report on Wednesday, February 28th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and one has assigned a buy rating to the company. Pra Group has an average rating of “Hold” and an average price target of $40.00.
In other news, Chairman Steven D. Fredrickson sold 5,200 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The stock was sold at an average price of $42.03, for a total transaction of $218,556.00. Following the transaction, the chairman now directly owns 310,252 shares of the company’s stock, valued at $13,039,891.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Laura White sold 3,593 shares of the business’s stock in a transaction that occurred on Wednesday, June 20th. The shares were sold at an average price of $42.00, for a total value of $150,906.00. The disclosure for this sale can be found here. Insiders have sold 34,654 shares of company stock worth $1,412,929 over the last three months. Insiders own 2.34% of the company’s stock.
Pra Group opened at $38.20 on Thursday, according to Marketbeat. Pra Group Inc has a 52-week low of $25.72 and a 52-week high of $42.15. The company has a market cap of $1.76 billion, a PE ratio of 28.72 and a beta of 1.42.
Pra Group (NASDAQ:PRAA) last posted its earnings results on Wednesday, May 9th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.11. Pra Group had a return on equity of 5.88% and a net margin of 16.29%. The firm had revenue of $223.18 million for the quarter, compared to analysts’ expectations of $205.00 million. During the same period in the previous year, the firm earned $1.03 earnings per share. The business’s revenue was up 8.0% compared to the same quarter last year. sell-side analysts anticipate that Pra Group Inc will post 1.99 EPS for the current fiscal year.
Pra Group Company Profile
PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans in the Americas and Europe. It is involved in the acquisition of accounts that are primarily the unpaid obligations of individuals owed to credit grantors, which include banks and other types of consumer, retail, and auto finance companies.
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