JPMorgan Chase & Co. Has $2.39 Million Holdings in PRA Group, Inc. $PRAA

Key Points

• JPMorgan Chase & Co. reduced its stake in PRA Group by 28.9% in Q3, selling 62,960 shares and now owning 154,901 shares valued at about $2.39 million (~0.40% of the company).
• Multiple brokers have recently downgraded PRAA (Citigroup, Citizens Jmp, Zacks) and Weiss Ratings reissued a Sell, leaving a consensus rating of Hold with a $25.00 average price target.
• PRA Group beat estimates with $1.46 EPS vs. $0.50 expected and $333.4M revenue, but it still reported a negative net margin (-25.39%) and the stock trades around $18 with a market cap near $694M.

JPMorgan Chase & Co. lessened its stake in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 28.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 154,901 shares of the business services provider's stock after selling 62,960 shares during the quarter. JPMorgan Chase & Co. owned about 0.40% of PRA Group worth $2,392,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PRAA. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in PRA Group by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider's stock worth $476,000 after acquiring an additional 1,020 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in PRA Group by 3.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,004 shares of the business services provider's stock worth $2,248,000 after acquiring an additional 4,010 shares in the last quarter. Cetera Investment Advisers raised its stake in PRA Group by 28.8% during the second quarter. Cetera Investment Advisers now owns 14,446 shares of the business services provider's stock worth $213,000 after acquiring an additional 3,229 shares in the last quarter. Legal & General Group Plc raised its stake in PRA Group by 1.4% during the second quarter. Legal & General Group Plc now owns 105,951 shares of the business services provider's stock worth $1,563,000 after acquiring an additional 1,424 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in PRA Group by 3.7% during the second quarter. Rhumbline Advisers now owns 119,287 shares of the business services provider's stock worth $1,759,000 after acquiring an additional 4,277 shares in the last quarter. Institutional investors and hedge funds own 97.22% of the company's stock.

Analyst Ratings Changes

Several brokerages have commented on PRAA. Citigroup downgraded PRA Group from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 28th. Zacks Research downgraded PRA Group from a "strong-buy" rating to a "hold" rating in a research note on Monday, January 5th. Citizens Jmp downgraded PRA Group from a "market outperform" rating to a "market perform" rating in a research note on Wednesday, January 28th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of PRA Group in a research note on Friday, March 27th. One research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $25.00.

PRA Group Trading Up 1.5%

NASDAQ:PRAA opened at $18.04 on Tuesday. The stock has a market cap of $693.69 million, a P/E ratio of -2.31 and a beta of 1.14. The stock's 50-day moving average is $14.85 and its 200-day moving average is $15.52. PRA Group, Inc. has a 1-year low of $10.25 and a 1-year high of $19.83.

PRA Group (NASDAQ:PRAA - Get Free Report) last released its quarterly earnings results on Thursday, February 26th. The business services provider reported $1.46 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.96. The company had revenue of $333.39 million for the quarter, compared to analysts' expectations of $288.86 million. PRA Group had a positive return on equity of 10.50% and a negative net margin of 25.39%. As a group, equities analysts forecast that PRA Group, Inc. will post 2.1 EPS for the current year.

PRA Group Profile

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company's core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.

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