State Street Corp Purchases 14,758 Shares of PRA Group, Inc. (NASDAQ:PRAA)

State Street Corp grew its position in PRA Group, Inc. (NASDAQ:PRAA) by 1.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,502,427 shares of the business services provider’s stock after acquiring an additional 14,758 shares during the quarter. State Street Corp’s holdings in PRA Group were worth $33,594,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of PRAA. FMR LLC lifted its holdings in shares of PRA Group by 55.0% during the 3rd quarter. FMR LLC now owns 1,707 shares of the business services provider’s stock worth $38,000 after acquiring an additional 606 shares during the period. Centiva Capital LP raised its position in PRA Group by 4.4% in the third quarter. Centiva Capital LP now owns 16,618 shares of the business services provider’s stock worth $372,000 after purchasing an additional 701 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake 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 worth $294,000 after purchasing an additional 712 shares during the period. Sei Investments Co. boosted its holdings 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. Finally, Quarry LP grew its stake in shares of PRA Group by 282.6% in the 3rd quarter. Quarry LP now owns 1,316 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 972 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.

PRA Group Price Performance

NASDAQ PRAA opened at $20.84 on Friday. The stock’s 50 day simple moving average is $21.41 and its 200 day simple moving average is $21.61. PRA Group, Inc. has a one year low of $18.64 and a one year high of $31.43. The firm has a market cap of $821.66 million, a PE ratio of 18.95 and a beta of 1.49.

PRA Group (NASDAQ:PRAA) last announced its earnings results on Monday, November 4th. The business services provider reported $0.69 EPS for the quarter, topping 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 company had revenue of $281.48 million for the quarter, compared to analysts’ expectations of $262.20 million. During the same quarter in the prior year, the business earned ($0.31) earnings per share. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, equities analysts expect that PRA Group, Inc. will post 1.57 earnings per share for the current year.

Analysts Set New Price Targets

PRAA has been the subject of several analyst reports. Truist Financial raised their target price on PRA Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. StockNews.com raised shares of PRA Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th.

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.