Capital Management Corp VA Acquires 130,360 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Capital Management Corp VA lifted its position in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 58.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 353,371 shares of the business services provider's stock after purchasing an additional 130,360 shares during the quarter. Capital Management Corp VA owned 0.89% of PRA Group worth $7,287,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PRAA. Invesco Ltd. raised its stake in shares of PRA Group by 195.7% in the fourth quarter. Invesco Ltd. now owns 799,307 shares of the business services provider's stock valued at $16,698,000 after purchasing an additional 529,041 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of PRA Group in the fourth quarter valued at $7,657,000. JPMorgan Chase & Co. grew its position in PRA Group by 356.3% in the fourth quarter. JPMorgan Chase & Co. now owns 341,952 shares of the business services provider's stock valued at $7,143,000 after acquiring an additional 267,015 shares during the period. Marshall Wace LLP grew its position in PRA Group by 271.0% in the fourth quarter. Marshall Wace LLP now owns 337,166 shares of the business services provider's stock valued at $7,043,000 after acquiring an additional 246,282 shares during the period. Finally, Hillsdale Investment Management Inc. grew its position in PRA Group by 75,251.9% in the fourth quarter. Hillsdale Investment Management Inc. now owns 203,450 shares of the business services provider's stock valued at $4,250,000 after acquiring an additional 203,180 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

PRA Group Stock Down 1.8%

NASDAQ:PRAA traded down $0.29 during trading hours on Friday, reaching $15.58. The company had a trading volume of 296,569 shares, compared to its average volume of 327,752. The stock has a 50-day moving average of $14.90 and a two-hundred day moving average of $18.24. PRA Group, Inc. has a one year low of $12.91 and a one year high of $27.54. The firm has a market capitalization of $617.90 million, a PE ratio of 8.70 and a beta of 1.52.

PRA Group (NASDAQ:PRAA - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The business services provider reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.32). The company had revenue of $269.62 million during the quarter, compared to the consensus estimate of $288.63 million. PRA Group had a net margin of 6.27% and a return on equity of 5.09%. The business's revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the company earned $0.09 earnings per share. As a group, sell-side analysts expect that PRA Group, Inc. will post 2.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PRAA. JMP Securities lowered their price target on PRA Group from $30.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen cut PRA Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd.

Insider Activity at PRA Group

In other PRA Group news, Director Brett Lee Paschke bought 5,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were bought at an average price of $13.39 per share, for a total transaction of $66,950.00. Following the completion of the acquisition, the director owned 30,056 shares of the company's stock, valued at approximately $402,449.84. This trade represents a 19.96% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company's stock.

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.