Caxton Associates LLP Invests $419,000 in PRA Group, Inc. $PRAA

Key Points

• Caxton Associates LLP acquired 20,322 shares of PRA Group, Inc. during the 1st quarter, valued at approximately $419,000, bringing its ownership to about 0.05% of the company.
• Analysts have raised their ratings on PRA Group, with Wall Street Zen upgrading it from a "sell" to a "hold" and Citigroup maintaining an "outperform" rating; the stock has a consensus rating of "Buy".
• PRA Group reported better-than-expected earnings, with an EPS of $1.08, exceeding estimates by $0.46, and generated revenue of $287.69 million for the quarter.

Caxton Associates LLP acquired a new stake in PRA Group, Inc. (NASDAQ:PRAA - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 20,322 shares of the business services provider's stock, valued at approximately $419,000. Caxton Associates LLP owned 0.05% of PRA Group as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of 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 purchasing an additional 1,020 shares during the period. Federation des caisses Desjardins du Quebec boosted its stake in shares of 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 purchasing an additional 3,200 shares during the period. PDT Partners LLC boosted its stake in shares of 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 purchasing an additional 19,810 shares during the period. State of Wyoming boosted its stake in shares of 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 purchasing an additional 8,187 shares during the period. Finally, Topline Capital Management LLC purchased a new position in shares of PRA Group in the first quarter valued at approximately $17,299,000. Hedge funds and other institutional investors own 97.22% of the company's stock.

Wall Street Analysts Forecast Growth

PRAA has been the subject of several recent research reports. 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. Wall Street Zen upgraded shares of PRA Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Citigroup reiterated 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, According to MarketBeat, PRA Group presently has a consensus rating of "Buy" and an average price target of $27.50.

PRA Group Price Performance

Shares of NASDAQ:PRAA traded up $0.59 during trading on Thursday, hitting $17.29. 464,045 shares of the company were exchanged, compared to its average volume of 209,480. The stock has a market capitalization of $675.52 million, a P/E ratio of 7.42 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. The firm's 50 day moving average price is $16.29 and its 200-day moving average price is $16.60.

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