Verition Fund Management LLC Invests $303,000 in PRA Group, Inc. (NASDAQ:PRAA)

Verition Fund Management LLC purchased a new stake in PRA Group, Inc. (NASDAQ:PRAA) in the third quarter, HoldingsChannel reports. The institutional investor purchased 13,564 shares of the business services provider’s stock, valued at approximately $303,000.

Other institutional investors have also recently bought and sold shares of the company. Global Alpha Capital Management Ltd. boosted its stake in shares of PRA Group by 2.9% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 1,817,800 shares of the business services provider’s stock valued at $40,646,000 after purchasing an additional 51,085 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in PRA Group by 1.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,743,076 shares of the business services provider’s stock worth $34,268,000 after purchasing an additional 20,519 shares during the last quarter. Pinnacle Associates Ltd. lifted its holdings in PRA Group by 86.3% during the third quarter. Pinnacle Associates Ltd. now owns 297,545 shares of the business services provider’s stock worth $6,653,000 after acquiring an additional 137,799 shares during the period. Assenagon Asset Management S.A. grew its position in PRA Group by 14.7% during the third quarter. Assenagon Asset Management S.A. now owns 222,817 shares of the business services provider’s stock valued at $4,982,000 after buying an additional 28,582 shares during the period. Finally, Sei Investments Co. increased its stake in shares of PRA Group by 0.9% during the 2nd quarter. Sei Investments Co. now owns 95,473 shares of the business services provider’s stock worth $1,877,000 after purchasing an additional 826 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Truist Financial boosted their target price on shares of PRA Group from $28.00 to $31.00 and gave the company a “buy” rating in a 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 Trading Down 1.8 %

PRAA opened at $21.11 on Friday. The stock has a fifty day simple moving average of $21.38 and a two-hundred day simple moving average of $21.60. PRA Group, Inc. has a 12-month low of $18.64 and a 12-month high of $31.43. The company has a market cap of $832.30 million, a price-to-earnings ratio of 19.19 and a beta of 1.49.

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

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.