BNP Paribas Financial Markets Reduces Stake in PRA Group, Inc. (NASDAQ:PRAA)

BNP Paribas Financial Markets reduced its position in PRA Group, Inc. (NASDAQ:PRAA) by 35.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 50,115 shares of the business services provider’s stock after selling 27,559 shares during the period. BNP Paribas Financial Markets’ holdings in PRA Group were worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. FMR LLC lifted its position in PRA Group by 55.0% during the third quarter. FMR LLC now owns 1,707 shares of the business services provider’s stock valued at $38,000 after purchasing an additional 606 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in PRA Group by 5.0% during the second quarter. The Manufacturers Life Insurance Company now owns 14,929 shares of the business services provider’s stock valued at $294,000 after purchasing an additional 712 shares in the last quarter. Sei Investments Co. lifted its position in PRA Group by 0.9% during the second quarter. Sei Investments Co. now owns 95,473 shares of the business services provider’s stock valued at $1,877,000 after purchasing an additional 826 shares in the last quarter. Quest Partners LLC lifted its position in 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 purchasing an additional 1,267 shares in the last quarter. Finally, nVerses Capital LLC lifted its position in PRA Group by 700.0% during the second quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,400 shares in the last quarter. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

PRA Group Stock Down 1.0 %

Shares of PRA Group stock opened at $21.15 on Wednesday. The stock’s 50-day simple moving average is $21.40 and its 200-day simple moving average is $21.61. PRA Group, Inc. has a 52 week low of $18.64 and a 52 week high of $31.43. The company has a market capitalization of $833.88 million, a price-to-earnings ratio of 19.23 and a beta of 1.49.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Monday, November 4th. The business services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.32 by $0.37. PRA Group had a return on equity of 2.90% and a net margin of 4.16%. The business had revenue of $281.48 million for the quarter, compared to the consensus estimate of $262.20 million. During the same period in the previous year, the business earned ($0.31) earnings per share. The business’s revenue was up 30.1% on a year-over-year basis. On average, equities analysts expect that PRA Group, Inc. will post 1.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on PRAA shares. Truist Financial lifted their target price on PRA Group from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th.

PRA Group 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.