Millennium Management LLC Purchases 49,623 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Millennium Management LLC lifted its stake in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 48.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,227 shares of the business services provider's stock after acquiring an additional 49,623 shares during the period. Millennium Management LLC owned approximately 0.38% of PRA Group worth $3,159,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Sterling Capital Management LLC grew its position in PRA Group by 805.8% in 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 in the last quarter. Quarry LP grew its position in PRA Group by 154.2% in 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 in the last quarter. KLP Kapitalforvaltning AS bought a new position in PRA Group in the fourth quarter valued at $134,000. Headlands Technologies LLC grew its position in PRA Group by 231.3% in the fourth quarter. Headlands Technologies LLC now owns 7,278 shares of the business services provider's stock valued at $152,000 after purchasing an additional 5,081 shares in the last quarter. Finally, AlphaQuest LLC grew its position in PRA Group by 24.5% in the fourth quarter. AlphaQuest LLC now owns 7,690 shares of the business services provider's stock valued at $161,000 after purchasing an additional 1,513 shares in the last quarter. Institutional investors own 97.22% of the company's stock.

Insider Transactions at PRA Group

In other PRA Group news, Director Brett Lee Paschke acquired 5,000 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was acquired at an average price of $13.39 per share, for a total transaction of $66,950.00. Following the purchase, the director now directly owns 30,056 shares of the company's stock, valued at $402,449.84. This trade represents a 19.96% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.00% of the stock is currently owned by corporate insiders.

PRA Group Trading Down 0.2%

Shares of PRAA traded down $0.03 during midday trading on Wednesday, reaching $14.39. The stock had a trading volume of 482,022 shares, compared to its average volume of 296,082. The firm has a 50 day simple moving average of $16.44 and a 200-day simple moving average of $19.57. PRA Group, Inc. has a one year low of $12.91 and a one year high of $27.54. The firm has a market cap of $570.69 million, a PE ratio of 8.04 and a beta of 1.70.

PRA Group (NASDAQ:PRAA - Get Free Report) last posted its earnings results on Monday, May 5th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.41 by ($0.32). The company had revenue of $269.62 million for the quarter, compared to analyst estimates of $288.63 million. PRA Group had a return on equity of 5.16% and a net margin of 6.33%. The business's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 EPS. As a group, research analysts forecast that PRA Group, Inc. will post 2.1 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on PRAA. Wall Street Zen downgraded shares of PRA Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JMP Securities decreased their target price on shares of PRA Group from $30.00 to $23.00 and set a "market outperform" rating for the company in a research report on Tuesday, May 6th.

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.