Wendell David Associates Inc. continued to hold its stake in PRA Group, Inc. (NASDAQ:PRAA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,175 shares of the business services provider’s stock at the end of the second quarter. Wendell David Associates Inc.’s holdings in PRA Group were worth $613,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in PRAA. Russell Investments Group Ltd. purchased a new position in shares of PRA Group during the fourth quarter worth approximately $1,578,000. State Street Corp raised its position in shares of PRA Group by 4.0% in the fourth quarter. State Street Corp now owns 1,033,702 shares of the business services provider’s stock worth $40,419,000 after buying an additional 39,398 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of PRA Group by 7.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 25,270 shares of the business services provider’s stock worth $988,000 after buying an additional 1,730 shares during the last quarter. Norges Bank purchased a new position in shares of PRA Group during the fourth quarter worth approximately $18,549,000. Finally, HighPoint Advisor Group LLC purchased a new position in shares of PRA Group during the fourth quarter worth approximately $201,000.
Shares of PRA Group, Inc. (NASDAQ:PRAA) opened at 38.70 on Friday. The company has a market capitalization of $1.80 billion, a price-to-earnings ratio of 17.81 and a beta of 1.49. PRA Group, Inc. has a 1-year low of $23.15 and a 1-year high of $42.70. The stock has a 50 day moving average price of $38.01 and a 200 day moving average price of $36.35.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings data on Tuesday, May 9th. The business services provider reported $0.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.44 by $0.06. PRA Group had a return on equity of 7.57% and a net margin of 12.47%. The firm had revenue of $206.56 million for the quarter, compared to analysts’ expectations of $198.48 million. During the same quarter last year, the firm posted $0.85 earnings per share. PRA Group’s quarterly revenue was down 8.1% on a year-over-year basis. On average, equities analysts anticipate that PRA Group, Inc. will post $2.05 EPS for the current fiscal year.
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A number of equities analysts recently commented on PRAA shares. Zacks Investment Research raised PRA Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Keefe, Bruyette & Woods started coverage on PRA Group in a research note on Wednesday, May 24th. They set an “outperform” rating and a $40.00 price target for the company. Finally, BidaskClub raised PRA Group from a “hold” rating to a “buy” rating in a research note on Thursday, June 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $38.00.
In other news, Director Geir Olsen acquired 142,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was bought at an average cost of $34.55 per share, for a total transaction of $4,906,100.00. Following the purchase, the director now owns 27,162 shares in the company, valued at $938,447.10. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.10% of the stock is currently owned by insiders.
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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