State Street Corp boosted its holdings in PRA Group, Inc. (NASDAQ:PRAA) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,143,509 shares of the business services provider’s stock after acquiring an additional 39,117 shares during the quarter. State Street Corp owned about 2.53% of PRA Group worth $43,341,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its position in PRA Group by 53,101.9% in the first quarter. BlackRock Inc. now owns 6,007,031 shares of the business services provider’s stock worth $199,134,000 after acquiring an additional 5,995,740 shares in the last quarter. Vanguard Group Inc. raised its position in PRA Group by 9.4% in the first quarter. Vanguard Group Inc. now owns 4,186,390 shares of the business services provider’s stock worth $138,779,000 after acquiring an additional 360,823 shares in the last quarter. Dimensional Fund Advisors LP raised its position in PRA Group by 14.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,744,664 shares of the business services provider’s stock worth $66,123,000 after acquiring an additional 218,409 shares in the last quarter. Cooke & Bieler LP raised its position in PRA Group by 0.8% in the second quarter. Cooke & Bieler LP now owns 1,136,490 shares of the business services provider’s stock worth $43,073,000 after acquiring an additional 9,400 shares in the last quarter. Finally, Oak Ridge Investments LLC raised its position in PRA Group by 0.9% in the second quarter. Oak Ridge Investments LLC now owns 1,077,845 shares of the business services provider’s stock worth $40,850,000 after acquiring an additional 9,745 shares in the last quarter.
Shares of PRA Group, Inc. (NASDAQ:PRAA) opened at $29.00 on Monday. The stock has a market capitalization of $1,309.85, a PE ratio of 29.59 and a beta of 1.51. PRA Group, Inc. has a twelve month low of $23.15 and a twelve month high of $42.70.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data 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). The company 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%. PRA Group’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.83 EPS. equities research analysts forecast that PRA Group, Inc. will post 1.22 earnings per share for the current year.
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PRAA has been the topic of several research reports. Raymond James Financial, Inc. reiterated an “underperform” rating on shares of PRA Group in a research report on Thursday, September 21st. Citigroup Inc. cut shares of PRA Group to an “underperform” rating in a research report on Thursday, September 21st. BidaskClub cut shares of PRA Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods cut shares of PRA Group from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $36.00 to $40.00 in a research report on Tuesday, October 10th. Finally, Zacks Investment Research cut shares of PRA Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Four research analysts have rated the stock with a sell rating and three have assigned a hold rating to the stock. The stock presently has a consensus rating of “Sell” and a consensus price target of $36.00.
About PRA Group
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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