BlackRock Inc. acquired a new stake in PRA Group, Inc. (NASDAQ:PRAA - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 4,433,001 shares of the business services provider's stock, valued at approximately $84,183,000. BlackRock Inc. owned approximately 11.62% of PRA Group at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in PRA Group in the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC boosted its stake in shares of PRA Group by 145.6% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider's stock valued at $44,000 after purchasing an additional 1,471 shares during the period. Larson Financial Group LLC grew its holdings in shares of PRA Group by 146.8% in the fourth quarter. Larson Financial Group LLC now owns 2,848 shares of the business services provider's stock valued at $50,000 after purchasing an additional 1,694 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in PRA Group by 375.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider's stock worth $71,000 after buying an additional 3,777 shares during the period. Finally, Globeflex Capital L P purchased a new stake in PRA Group during the 2nd quarter worth approximately $102,000. Institutional investors and hedge funds own 97.22% of the company's stock.
PRA Group Trading Down 0.8%
Shares of PRAA stock opened at $19.14 on Friday. The company has a market cap of $720.62 million, a P/E ratio of -2.84 and a beta of 1.11. The firm has a fifty day moving average price of $18.40 and a 200 day moving average price of $17.18. PRA Group, Inc. has a 12 month low of $10.25 and a 12 month high of $22.55.
PRA Group (NASDAQ:PRAA - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share for the quarter, beating analysts' consensus estimates of $0.52 by $0.99. The company had revenue of $372.17 million for the quarter, compared to analysts' expectations of $299.99 million. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%. On average, equities analysts forecast that PRA Group, Inc. will post 3.93 EPS for the current year.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on PRAA. Weiss Ratings reaffirmed a "sell (d)" rating on shares of PRA Group in a research report on Wednesday, June 24th. Zacks Research upgraded PRA Group from a "hold" rating to a "strong-buy" rating in a report on Monday, August 10th. Finally, Wall Street Zen raised PRA Group from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, PRA Group presently has a consensus rating of "Hold" and an average price target of $26.00.
Check Out Our Latest Report on PRAA
PRA Group Company Profile
(
Free Report)
PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.
The company's core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.
See Also
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