Assenagon Asset Management S.A. Boosts Stock Holdings in PRA Group, Inc. (NASDAQ:PRAA)

Assenagon Asset Management S.A. boosted its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA) by 14.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,817 shares of the business services provider’s stock after purchasing an additional 28,582 shares during the period. Assenagon Asset Management S.A. owned about 0.57% of PRA Group worth $4,982,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC lifted its holdings in shares of PRA Group by 168.8% during the third quarter. nVerses Capital LLC now owns 4,300 shares of the business services provider’s stock valued at $96,000 after purchasing an additional 2,700 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of PRA Group by 101.8% in the 3rd quarter. SG Americas Securities LLC now owns 22,754 shares of the business services provider’s stock worth $509,000 after buying an additional 11,481 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in PRA Group during the second quarter valued at approximately $29,000. The Manufacturers Life Insurance Company raised its stake in shares of PRA Group by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,929 shares of the business services provider’s stock worth $294,000 after buying an additional 712 shares during the period. Finally, Dark Forest Capital Management LP purchased a new position in shares of PRA Group during the 2nd quarter valued at $216,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at PRA Group

In related news, Director Geir Olsen purchased 11,750 shares of the company’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $21.39 per share, for a total transaction of $251,332.50. Following the completion of the transaction, the director now directly owns 11,750 shares in the company, valued at approximately $251,332.50. The acquisition was disclosed in a document filed with the SEC, which is available at this link. 2.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Truist Financial reduced their price target on shares of PRA Group from $42.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 20th.

PRA Group Price Performance

Shares of PRA Group stock opened at $18.88 on Wednesday. The stock’s 50 day simple moving average is $21.49 and its 200-day simple moving average is $22.11. The stock has a market cap of $744.25 million, a P/E ratio of 188.82 and a beta of 1.49. PRA Group, Inc. has a 1-year low of $11.85 and a 1-year high of $31.43.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Monday, August 5th. The business services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.46. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The company had revenue of $284.20 million during the quarter, compared to analyst estimates of $245.04 million. During the same period in the prior year, the business posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. As a group, research analysts expect that PRA Group, Inc. will post 1.33 EPS for the current fiscal year.

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.