Hsbc Holdings PLC Raises Position in PRA Group, Inc. $PRAA

Key Points

• Hsbc Holdings PLC increased its stake in PRA Group, Inc. by 110.5%, now owning 79,775 shares worth approximately $1.64 million.
• Multiple institutional investors are actively adjusting their positions in PRA Group, with 97.22% of the company's stock now owned by institutional investors.
• PRA Group reported strong earnings, with $1.08 EPS for the quarter, surpassing expectations and indicating a robust financial performance.

Hsbc Holdings PLC lifted its stake in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 110.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,775 shares of the business services provider's stock after purchasing an additional 41,875 shares during the quarter. Hsbc Holdings PLC owned about 0.20% of PRA Group worth $1,641,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP boosted its position in shares of PRA Group by 154.2% during the 4th quarter. Quarry LP now owns 3,345 shares of the business services provider's stock worth $70,000 after purchasing an additional 2,029 shares in the last quarter. Point72 Asset Management L.P. bought a new position in PRA Group in the 4th quarter valued at about $155,000. State of Wyoming lifted its position in PRA Group by 9.0% in the 4th quarter. State of Wyoming now owns 10,255 shares of the business services provider's stock valued at $214,000 after acquiring an additional 850 shares in the last quarter. Cetera Investment Advisers bought a new position in PRA Group in the 4th quarter valued at about $227,000. Finally, Mariner LLC lifted its position in PRA Group by 4.8% in the 4th quarter. Mariner LLC now owns 11,175 shares of the business services provider's stock valued at $233,000 after acquiring an additional 515 shares in the last quarter. Institutional investors own 97.22% of the company's stock.

PRA Group Stock Performance

NASDAQ:PRAA traded down $0.30 on Tuesday, hitting $16.80. The stock had a trading volume of 55,473 shares, compared to its average volume of 378,855. The stock has a market cap of $656.18 million, a P/E ratio of 7.21 and a beta of 1.50. PRA Group, Inc. has a 1 year low of $12.91 and a 1 year high of $25.43. The firm's fifty day simple moving average is $15.90 and its two-hundred day simple moving average is $17.00.

PRA Group (NASDAQ:PRAA - Get Free Report) last issued its quarterly earnings results on Monday, August 4th. The business services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.46. PRA Group had a net margin of 8.10% and a return on equity of 6.52%. The company had revenue of $287.69 million during the quarter, compared to analyst estimates of $279.34 million. Equities research analysts predict that PRA Group, Inc. will post 2.1 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on PRAA. Citigroup reaffirmed an "outperform" rating on shares of PRA Group in a research report on Tuesday, August 5th. JMP Securities set a $24.00 price target on shares of PRA Group and gave the company a "market outperform" rating in a research report on Tuesday, August 5th. Finally, Wall Street Zen raised shares of PRA Group from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, PRA Group has an average rating of "Buy" and a consensus price target of $27.50.

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.