nVerses Capital LLC Raises Stock Position in PRA Group, Inc. (NASDAQ:PRAA)

nVerses Capital LLC raised its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA) by 168.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 4,300 shares of the business services provider’s stock after acquiring an additional 2,700 shares during the quarter. nVerses Capital LLC’s holdings in PRA Group were worth $96,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PRA Group during the 2nd quarter worth $29,000. Innealta Capital LLC purchased a new position in shares of PRA Group during the 2nd quarter worth $57,000. PNC Financial Services Group Inc. boosted its stake in shares of PRA Group by 11.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock worth $103,000 after acquiring an additional 419 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of PRA Group during the 1st quarter worth $103,000. Finally, Quest Partners LLC boosted its stake in shares of PRA Group by 14.2% during the 2nd quarter. Quest Partners LLC now owns 10,179 shares of the business services provider’s stock worth $200,000 after acquiring an additional 1,267 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Insider Buying and Selling at PRA Group

In related news, Director Geir Olsen purchased 11,750 shares of PRA Group stock in a transaction on Wednesday, August 7th. The shares were bought at an average cost of $21.39 per share, for a total transaction of $251,332.50. Following the acquisition, the director now owns 11,750 shares in the company, valued at approximately $251,332.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.00% of the stock is currently owned by insiders.

PRA Group Price Performance

Shares of PRAA stock opened at $21.30 on Monday. The company has a market capitalization of $838.20 million, a price-to-earnings ratio of -39.44 and a beta of 1.49. PRA Group, Inc. has a one year low of $11.85 and a one year high of $31.43. The company’s fifty day moving average price is $21.97 and its 200-day moving average price is $22.43.

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 company had revenue of $284.20 million for the quarter, compared to the consensus estimate of $245.04 million. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. PRA Group’s revenue for the quarter was up 35.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.10) EPS. Equities research analysts expect that PRA Group, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on PRAA shares. Truist Financial dropped their price target on shares of PRA Group from $42.00 to $28.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. StockNews.com upgraded shares of 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.