Algert Global LLC Buys New Shares in PRA Group, Inc. $PRAA

Key Points

• Algert Global LLC acquired 14,974 shares of PRA Group, Inc. valued at approximately $309,000, marking a new position for the firm in the 1st quarter.
• PRA Group reported $1.08 earnings per share for the last quarter, exceeding consensus estimates by $0.46, along with a revenue of $287.69 million.
• Research analysts currently give PRA Group a consensus rating of "Buy" with a target price of $27.50, up from previous ratings.

Algert Global LLC purchased a new stake in PRA Group, Inc. (NASDAQ:PRAA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 14,974 shares of the business services provider's stock, valued at approximately $309,000.

A number of other large investors have also added to or reduced their stakes in the company. Quarry LP grew its holdings in PRA Group by 154.2% during the 4th quarter. Quarry LP now owns 3,345 shares of the business services provider's stock worth $70,000 after acquiring an additional 2,029 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in PRA Group during the 4th quarter worth $155,000. State of Wyoming grew its holdings in PRA Group by 9.0% during the 4th quarter. State of Wyoming now owns 10,255 shares of the business services provider's stock worth $214,000 after acquiring an additional 850 shares in the last quarter. Cetera Investment Advisers acquired a new position in PRA Group during the 4th quarter worth $227,000. Finally, Mariner LLC grew its holdings in PRA Group by 4.8% during the 4th quarter. Mariner LLC now owns 11,175 shares of the business services provider's stock worth $233,000 after acquiring an additional 515 shares in the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

PRA Group Trading Up 0.5%

Shares of NASDAQ PRAA traded up $0.09 during midday trading on Friday, reaching $17.04. The company's stock had a trading volume of 49,004 shares, compared to its average volume of 380,137. The company has a 50 day moving average price of $15.80 and a 200 day moving average price of $17.18. PRA Group, Inc. has a one year low of $12.91 and a one year high of $25.43. The company has a market cap of $665.75 million, a price-to-earnings ratio of 7.31 and a beta of 1.54.

PRA Group (NASDAQ:PRAA - Get Free Report) last released its earnings results on Monday, August 4th. The business services provider reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.46. The business had revenue of $287.69 million for the quarter, compared to the consensus estimate of $279.34 million. PRA Group had a net margin of 8.10% and a return on equity of 6.52%. Research analysts anticipate that PRA Group, Inc. will post 2.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on PRAA. Wall Street Zen upgraded shares of PRA Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Citigroup reiterated an "outperform" rating on shares of PRA Group in a research report on Tuesday, August 5th. Finally, JMP Securities set a $24.00 price target on shares of PRA Group and gave the stock a "market outperform" rating in a research report on Tuesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has an average rating of "Buy" and an average price target of $27.50.

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.