Assenagon Asset Management S.A. Sells 198,901 Shares of PRA Group, Inc. $PRAA

Key Points

• Assenagon Asset Management S.A. sold 198,901 shares of PRA Group, representing a 49.0% reduction in its holdings during the second quarter, leaving it with a total of 206,694 shares.
• PRA Group's stock is currently experiencing a decline of 3.5%, with a market capitalization of $620.04 million and a PE ratio of 6.81.
• The company reported earnings of $1.08 per share, significantly exceeding analyst estimates, and its average rating from analysts is currently a "Buy".

Assenagon Asset Management S.A. lessened its holdings in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 49.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 206,694 shares of the business services provider's stock after selling 198,901 shares during the quarter. Assenagon Asset Management S.A. owned 0.52% of PRA Group worth $3,049,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of PRA Group by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 4,322,609 shares of the business services provider's stock valued at $89,132,000 after purchasing an additional 21,934 shares during the last quarter. Wellington Management Group LLP lifted its stake in PRA Group by 3.2% in the 1st quarter. Wellington Management Group LLP now owns 3,881,917 shares of the business services provider's stock valued at $80,045,000 after purchasing an additional 120,965 shares during the last quarter. Global Alpha Capital Management Ltd. boosted its position in PRA Group by 6.4% in the first quarter. Global Alpha Capital Management Ltd. now owns 2,018,200 shares of the business services provider's stock valued at $41,615,000 after buying an additional 122,200 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its stake in shares of PRA Group by 1.2% during the first quarter. T. Rowe Price Investment Management Inc. now owns 1,883,567 shares of the business services provider's stock worth $38,840,000 after buying an additional 21,627 shares during the last quarter. Finally, Topline Capital Management LLC acquired a new position in shares of PRA Group during the first quarter worth $17,299,000. Institutional investors and hedge funds own 97.22% of the company's stock.

PRA Group Trading Down 3.5%

NASDAQ PRAA opened at $15.87 on Thursday. The firm has a market capitalization of $620.04 million, a PE ratio of 6.81 and a beta of 1.50. The business's 50-day moving average price is $16.35 and its two-hundred day moving average price is $16.50. 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 issued its quarterly earnings data on Monday, August 4th. The business services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.46. PRA Group had a return on equity of 6.52% and a net margin of 8.10%.The company had revenue of $287.69 million during the quarter, compared to the consensus estimate of $279.34 million. As a group, analysts forecast that PRA Group, Inc. will post 2.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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