Riverbridge Partners LLC Sells 192,377 Shares of PRA Group, Inc. (PRAA)

Riverbridge Partners LLC cut its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA) by 6.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,801,854 shares of the business services provider’s stock after selling 192,377 shares during the period. PRA Group makes up approximately 1.6% of Riverbridge Partners LLC’s holdings, making the stock its 19th biggest position. Riverbridge Partners LLC owned about 6.20% of PRA Group worth $80,273,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PRAA. Amalgamated Bank lifted its position in shares of PRA Group by 2.5% in the 2nd quarter. Amalgamated Bank now owns 6,393 shares of the business services provider’s stock valued at $242,000 after acquiring an additional 154 shares in the last quarter. Huntington National Bank lifted its position in shares of PRA Group by 5.5% in the 2nd quarter. Huntington National Bank now owns 3,084 shares of the business services provider’s stock valued at $117,000 after acquiring an additional 162 shares in the last quarter. Advisor Group Inc. lifted its position in shares of PRA Group by 3.5% in the 2nd quarter. Advisor Group Inc. now owns 5,829 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 196 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of PRA Group by 0.8% in the 2nd quarter. Texas Permanent School Fund now owns 33,836 shares of the business services provider’s stock valued at $1,282,000 after acquiring an additional 283 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of 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 valued at $107,000 after acquiring an additional 304 shares in the last quarter.

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Shares of PRA Group, Inc. (PRAA) traded down $0.30 on Monday, hitting $28.70. 74,989 shares of the stock traded hands, compared to its average volume of 413,104. PRA Group, Inc. has a 52 week low of $23.15 and a 52 week high of $42.70. The firm has a market cap of $1,309.85, a price-to-earnings ratio of 29.59 and a beta of 1.51.

PRA Group (NASDAQ:PRAA) last posted its earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share (EPS) 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 analysts’ expectations of $208.97 million. During the same period last year, the firm posted $0.83 earnings per share. PRA Group’s quarterly revenue was down 12.3% on a year-over-year basis. equities research analysts forecast that PRA Group, Inc. will post 1.22 EPS for the current fiscal year.

Several research analysts have weighed in on PRAA shares. Zacks Investment Research lowered shares of PRA Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. BidaskClub lowered shares of PRA Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Janney Montgomery Scott lowered shares of PRA Group from a “neutral” rating to a “sell” rating in a research note on Wednesday, October 4th. Keefe, Bruyette & Woods lowered shares of PRA Group from an “outperform” rating to a “market perform” rating and upped their price objective for the company from $36.00 to $40.00 in a research note on Tuesday, October 10th. Finally, Raymond James Financial, Inc. reiterated an “underperform” rating on shares of PRA Group in a research note on Thursday, September 21st. Four research analysts have rated the stock with a sell rating and three have issued a hold rating to the company. PRA Group currently has an average rating of “Sell” and a consensus price target of $36.00.

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.

Institutional Ownership by Quarter for PRA Group (NASDAQ:PRAA)

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