Texas Permanent School Fund increased its stake in PRA Group, Inc. (NASDAQ:PRAA) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 33,836 shares of the business services provider’s stock after buying an additional 283 shares during the period. Texas Permanent School Fund’s holdings in PRA Group were worth $1,282,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. State of Alaska Department of Revenue increased its stake in PRA Group by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 5,110 shares of the business services provider’s stock valued at $169,000 after buying an additional 90 shares during the last quarter. Huntington National Bank increased its position in shares of PRA Group by 5.5% in the second quarter. Huntington National Bank now owns 3,084 shares of the business services provider’s stock worth $117,000 after buying an additional 162 shares in the last quarter. Bell Bank increased its position in shares of PRA Group by 3.0% in the first quarter. Bell Bank now owns 8,153 shares of the business services provider’s stock worth $270,000 after buying an additional 235 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of PRA Group by 1.6% in the first quarter. Louisiana State Employees Retirement System now owns 18,900 shares of the business services provider’s stock worth $627,000 after buying an additional 300 shares in the last quarter. Finally, Arizona State Retirement System increased its position in shares of PRA Group by 1.3% in the first quarter. Arizona State Retirement System now owns 24,159 shares of the business services provider’s stock worth $801,000 after buying an additional 300 shares in the last quarter.
PRA Group, Inc. (NASDAQ:PRAA) opened at 30.70 on Friday. The firm has a market cap of $1.39 billion, a P/E ratio of 18.72 and a beta of 1.49. The stock has a 50 day moving average price of $37.43 and a 200-day moving average price of $36.11. PRA Group, Inc. has a one year low of $23.15 and a one year high of $42.70.
PRA Group (NASDAQ:PRAA) last released its quarterly earnings data on Tuesday, August 8th. The business services provider reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.23. PRA Group had a net margin of 9.76% and a return on equity of 4.69%. The business had revenue of $200.30 million for the quarter, compared to the consensus estimate of $208.97 million. During the same quarter last year, the firm earned $0.83 EPS. The company’s revenue for the quarter was down 12.3% on a year-over-year basis. Analysts predict that PRA Group, Inc. will post $2.09 EPS for the current fiscal year.
PRAA has been the topic of a number of research reports. Keefe, Bruyette & Woods initiated coverage on PRA Group in a report on Wednesday, May 24th. They issued an “outperform” rating and a $40.00 target price on the stock. Zacks Investment Research upgraded PRA Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, BidaskClub upgraded PRA Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. PRA Group currently has a consensus rating of “Buy” and an average price target of $38.00.
In other PRA Group news, Director Geir Olsen acquired 142,000 shares of the business’s stock in a transaction dated Tuesday, May 23rd. The shares were acquired at an average price of $34.55 per share, for a total transaction of $4,906,100.00. Following the acquisition, the director now directly owns 27,162 shares of the company’s stock, valued at approximately $938,447.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.10% of the company’s stock.
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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