Invesco Ltd. Sells 89,422 Shares of PRA Group, Inc. $PRAA

Key Points

• Invesco Ltd. reduced its holdings in PRA Group, Inc. by 11.2%, now owning 709,885 shares worth approximately $14.64 million as of the latest SEC filing.
• Several analysts have upgraded their ratings on PRA Group, with the consensus rating now at "Buy"** and a target price of $27.50.
• PRA Group reported a quarterly earnings surprise, with an EPS of $1.08, exceeding consensus estimates of $0.62, and revenue of $287.69 million against expectations of $279.34 million.

Invesco Ltd. lowered its position in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 11.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 709,885 shares of the business services provider's stock after selling 89,422 shares during the quarter. Invesco Ltd. owned approximately 1.79% of PRA Group worth $14,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Sterling Capital Management LLC boosted its stake in shares of PRA Group by 805.8% during the fourth quarter. Sterling Capital Management LLC now owns 1,241 shares of the business services provider's stock valued at $26,000 after purchasing an additional 1,104 shares during the period. Quarry LP boosted its stake in shares of PRA Group by 154.2% during the fourth quarter. Quarry LP now owns 3,345 shares of the business services provider's stock valued at $70,000 after purchasing an additional 2,029 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of PRA Group during the fourth quarter valued at approximately $155,000. State of Wyoming boosted its stake 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 valued at $214,000 after purchasing an additional 850 shares during the period. Finally, Cetera Investment Advisers purchased a new stake in shares of PRA Group during the fourth quarter valued at approximately $227,000. Hedge funds and other institutional investors own 97.22% of the company's stock.

PRA Group Trading Down 0.8%

PRAA traded down $0.14 during trading on Thursday, reaching $16.95. The stock had a trading volume of 230,714 shares, compared to its average volume of 314,081. The stock's 50 day moving average is $15.80 and its two-hundred day moving average is $17.18. The company has a market capitalization of $662.24 million, a price-to-earnings ratio of 7.27 and a beta of 1.54. PRA Group, Inc. has a one year low of $12.91 and a one year high of $25.43.

PRA Group (NASDAQ:PRAA - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The business services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 6.52% and a net margin of 8.10%. On average, equities research analysts predict that PRA Group, Inc. will post 2.1 earnings per share for the current year.

Analysts Set New Price Targets

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

PRA Group 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.