1,498 Shares in PRA Group, Inc. (NASDAQ:PRAA) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. bought a new stake in PRA Group, Inc. (NASDAQ:PRAA) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,498 shares of the business services provider’s stock, valued at approximately $29,000.

Several other hedge funds also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of PRA Group by 353.3% during the second quarter. Assenagon Asset Management S.A. now owns 194,235 shares of the business services provider’s stock worth $3,819,000 after purchasing an additional 151,389 shares during the period. Redwood Investment Management LLC acquired a new stake in PRA Group during the 4th quarter worth approximately $3,268,000. Global Alpha Capital Management Ltd. raised its holdings in PRA Group by 5.4% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 1,708,015 shares of the business services provider’s stock worth $44,545,000 after buying an additional 86,800 shares during the period. ClariVest Asset Management LLC bought a new position in PRA Group in the second quarter valued at approximately $1,343,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of PRA Group in the second quarter valued at approximately $1,142,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PRAA shares. Truist Financial dropped their price objective on shares of PRA Group from $42.00 to $28.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. StockNews.com raised PRA Group from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th.

PRA Group Stock Performance

NASDAQ PRAA opened at $21.81 on Wednesday. The stock has a market capitalization of $858.27 million, a price-to-earnings ratio of -40.39 and a beta of 1.49. PRA Group, Inc. has a 52 week low of $11.85 and a 52 week high of $31.43. The stock’s 50 day moving average price is $22.68 and its two-hundred day moving average price is $22.76.

PRA Group (NASDAQ:PRAA) last announced its earnings results on Monday, August 5th. The business services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.08 by $0.46. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. The business had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $245.04 million. During the same quarter in the prior year, the company posted ($0.10) earnings per share. The firm’s revenue was up 35.9% on a year-over-year basis. On average, equities research analysts forecast that PRA Group, Inc. will post 1.33 EPS for the current year.

Insider Transactions at PRA Group

In related news, Director Geir Olsen bought 11,750 shares of the stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $21.39 per share, with a total value of $251,332.50. Following the completion of the transaction, the director now owns 11,750 shares in the company, valued at $251,332.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

About PRA Group

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.