Capital Management Corp VA Buys 198,152 Shares of PRA Group, Inc. $PRAA

Key Points

• Capital Management Corp VA increased its stake in PRA Group, Inc. by 56.1%, acquiring an additional 198,152 shares, which brings its total ownership to about 551,523 shares, valued at approximately $8.1 million.
• Shares of PRA Group experienced a 5.1% rise, opening at $14.31, while analysts have mixed ratings with three recommending a Buy and one a Sell, resulting in a consensus price target of $27.50.
• PRA Group reported earnings of $1.08 per share for the last quarter, significantly exceeding analysts' expectations of $0.62, alongside revenues of $287.69 million.

Capital Management Corp VA lifted its position in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 56.1% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 551,523 shares of the business services provider's stock after purchasing an additional 198,152 shares during the period. PRA Group accounts for about 1.4% of Capital Management Corp VA's investment portfolio, making the stock its 29th biggest position. Capital Management Corp VA owned approximately 1.39% of PRA Group worth $8,135,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC grew its holdings in PRA Group by 2,730.2% during the 1st quarter. GAMMA Investing LLC now owns 17,321 shares of the business services provider's stock worth $357,000 after acquiring an additional 16,709 shares in the last quarter. Janney Montgomery Scott LLC raised its holdings in PRA Group by 14.2% in the first quarter. Janney Montgomery Scott LLC now owns 41,182 shares of the business services provider's stock worth $849,000 after purchasing an additional 5,123 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of PRA Group by 2.7% during the first quarter. Principal Financial Group Inc. now owns 196,312 shares of the business services provider's stock valued at $4,048,000 after buying an additional 5,144 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of PRA Group by 3.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 119,502 shares of the business services provider's stock valued at $2,464,000 after buying an additional 3,816 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of PRA Group in the 1st quarter valued at about $294,000. Hedge funds and other institutional investors own 97.22% of the company's stock.

Analyst Upgrades and Downgrades

PRAA has been the topic of a number of recent analyst reports. Wall Street Zen raised PRA Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of PRA Group in a research report on Wednesday, October 8th. Citigroup reiterated an "outperform" rating on shares of PRA Group in a research note on Tuesday, August 5th. Finally, JMP Securities set a $24.00 target price on PRA Group and gave the company a "market outperform" rating in a research report on Tuesday, August 5th. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.50.

PRA Group Stock Up 5.1%

Shares of PRAA opened at $14.31 on Wednesday. PRA Group, Inc. has a 52 week low of $12.91 and a 52 week high of $25.43. The company has a market capitalization of $559.15 million, a price-to-earnings ratio of 6.14 and a beta of 1.45. The stock's 50-day moving average price is $16.08 and its 200-day moving average price is $15.97.

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, beating the consensus estimate of $0.62 by $0.46. The company had revenue of $287.69 million during the quarter, compared to analysts' expectations of $279.34 million. PRA Group had a return on equity of 6.52% and a net margin of 8.10%. As a group, equities analysts anticipate that PRA Group, Inc. will post 2.1 EPS for the current fiscal year.

PRA Group Company 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.

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