11,961 Shares in PRA Group, Inc. (NASDAQ:PRAA) Purchased by Intech Investment Management LLC

Intech Investment Management LLC purchased a new position in PRA Group, Inc. (NASDAQ:PRAA) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 11,961 shares of the business services provider’s stock, valued at approximately $235,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC grew its position in PRA Group by 700.0% in the second quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,400 shares in the last quarter. Innealta Capital LLC purchased a new position in PRA Group in the second quarter worth about $57,000. PNC Financial Services Group Inc. boosted its position in shares of PRA Group by 11.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock valued at $103,000 after buying an additional 419 shares during the period. SG Americas Securities LLC purchased a new position in shares of PRA Group during the first quarter valued at approximately $103,000. Finally, Quest Partners LLC boosted its position in shares of PRA Group by 14.2% during the second quarter. Quest Partners LLC now owns 10,179 shares of the business services provider’s stock valued at $200,000 after buying an additional 1,267 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PRAA. Truist Financial dropped their target price on PRA Group from $42.00 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a research report on Tuesday, September 17th.

Insider Activity at PRA Group

In other PRA Group news, Director Geir Olsen acquired 11,750 shares of PRA Group stock in a transaction that occurred on Wednesday, August 7th. The stock was bought at an average price of $21.39 per share, with a total value of $251,332.50. Following the completion of the purchase, the director now directly owns 11,750 shares of the company’s stock, valued at approximately $251,332.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.00% of the stock is owned by company insiders.

PRA Group Stock Performance

Shares of NASDAQ PRAA opened at $22.65 on Friday. The firm has a market capitalization of $892.86 million, a price-to-earnings ratio of -41.94 and a beta of 1.49. The stock has a 50 day moving average price of $22.69 and a 200 day moving average price of $22.77. PRA Group, Inc. has a 52-week low of $11.85 and a 52-week high of $31.43.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, August 5th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.46. The firm had revenue of $284.20 million during the quarter, compared to analyst estimates of $245.04 million. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. PRA Group’s quarterly revenue was up 35.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.10) earnings per share. Analysts forecast that PRA Group, Inc. will post 1.33 earnings per share for the current 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 worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.