Cubist Systematic Strategies LLC Trims Holdings in PRA Group, Inc. $PRAA

Key Points

• Cubist Systematic Strategies LLC has reduced its holdings in PRA Group, Inc. by 31.9%, selling 54,948 shares during the first quarter, and now holds 117,284 shares worth $2.4 million.
• Analysts have issued a consensus Buy rating for PRA Group with a target price of $27.50, following various upgrades and reissued ratings from firms including JMP Securities and Citigroup.
• PRA Group reported earnings of $1.08 EPS, significantly surpassing expectations, along with revenues of $287.69 million, reflecting strong performance relative to analyst forecasts.

Cubist Systematic Strategies LLC trimmed its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 31.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 117,284 shares of the business services provider's stock after selling 54,948 shares during the quarter. Cubist Systematic Strategies LLC owned 0.30% of PRA Group worth $2,418,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in PRAA. Virtus Advisers LLC purchased a new position in PRA Group in the 1st quarter worth about $147,000. Point72 Asset Management L.P. bought a new position in PRA Group in the 4th quarter worth about $155,000. State of Wyoming increased its position in shares of PRA Group by 9.0% during the fourth quarter. State of Wyoming now owns 10,255 shares of the business services provider's stock worth $214,000 after acquiring an additional 850 shares during the period. Cetera Investment Advisers bought a new stake in shares of PRA Group during the fourth quarter valued at approximately $227,000. Finally, AlphaQuest LLC raised its stake in shares of PRA Group by 43.4% during the first quarter. AlphaQuest LLC now owns 11,024 shares of the business services provider's stock valued at $227,000 after acquiring an additional 3,334 shares in the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PRAA shares. JMP Securities set a $24.00 price objective on PRA Group and gave the stock a "market outperform" rating in a research note on Tuesday, August 5th. Citigroup reissued an "outperform" rating on shares of PRA Group in a research report on Tuesday, August 5th. Finally, Wall Street Zen upgraded PRA Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $27.50.

PRA Group Trading Up 1.3%

Shares of NASDAQ PRAA opened at $17.18 on Friday. The stock has a market capitalization of $671.22 million, a PE ratio of 7.37 and a beta of 1.50. The stock's fifty day simple moving average is $16.05 and its two-hundred day simple moving average is $16.86. 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 released its quarterly earnings results on Monday, August 4th. The business services provider reported $1.08 EPS for the quarter, topping the consensus estimate of $0.62 by $0.46. The firm had revenue of $287.69 million during the quarter, compared to analyst estimates of $279.34 million. PRA Group had a return on equity of 6.52% and a net margin of 8.10%. On average, equities analysts predict that PRA Group, Inc. will post 2.1 earnings per share for the current fiscal year.

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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