Aristeia Capital L.L.C. Acquires New Stake in PRA Group, Inc. $PRAA

Key Points

• Aristeia Capital has invested approximately $320,000 in PRA Group, Inc., acquiring 15,534 shares during the first quarter.
• PRA Group reported earnings of $1.08 per share, exceeding expectations by $0.46, with revenues of $287.69 million for the latest quarter.
• The stock has received positive analyst ratings, with an average target price of $27.50 and recommendations ranging from "buy" to "market outperform."

Aristeia Capital L.L.C. purchased a new stake in PRA Group, Inc. (NASDAQ:PRAA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 15,534 shares of the business services provider's stock, valued at approximately $320,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Caxton Associates LLP acquired a new stake in shares of PRA Group in the first quarter valued at approximately $419,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in PRA Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider's stock valued at $476,000 after acquiring an additional 1,020 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in PRA Group by 5.1% in the first quarter. Federation des caisses Desjardins du Quebec now owns 66,416 shares of the business services provider's stock valued at $1,374,000 after acquiring an additional 3,200 shares during the last quarter. PDT Partners LLC boosted its stake in PRA Group by 42.3% in the first quarter. PDT Partners LLC now owns 66,613 shares of the business services provider's stock valued at $1,374,000 after acquiring an additional 19,810 shares during the last quarter. Finally, State of Wyoming boosted its stake in PRA Group by 79.8% in the first quarter. State of Wyoming now owns 18,442 shares of the business services provider's stock valued at $380,000 after acquiring an additional 8,187 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. Wall Street Zen raised shares of PRA Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. JMP Securities set a $24.00 price objective on shares of PRA Group and gave the company a "market outperform" rating in a research note on Tuesday, August 5th. Finally, Citigroup reaffirmed an "outperform" rating on shares of PRA Group in a research note on Tuesday, August 5th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, PRA Group presently has an average rating of "Buy" and a consensus price target of $27.50.

PRA Group Price Performance

Shares of NASDAQ PRAA traded down $0.50 during midday trading on Friday, reaching $16.82. 182,677 shares of the stock were exchanged, compared to its average volume of 192,357. The business has a 50-day simple moving average of $16.22 and a two-hundred day simple moving average of $16.65. The company has a market capitalization of $657.22 million, a price-to-earnings ratio of 7.22 and a beta of 1.50. PRA Group, Inc. has a 12 month low of $12.91 and a 12 month high of $25.43.

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