Nexus Investment Management ULC Sells 125,883 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Nexus Investment Management ULC lessened its stake in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 95.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,450 shares of the business services provider's stock after selling 125,883 shares during the quarter. Nexus Investment Management ULC's holdings in PRA Group were worth $133,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Mackenzie Financial Corp purchased a new stake in PRA Group in the 4th quarter valued at $353,000. PharVision Advisers LLC purchased a new position in PRA Group during the 4th quarter worth $255,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in PRA Group by 11.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,994 shares of the business services provider's stock worth $2,193,000 after buying an additional 10,817 shares during the last quarter. Squarepoint Ops LLC raised its position in PRA Group by 50.3% during the 4th quarter. Squarepoint Ops LLC now owns 31,052 shares of the business services provider's stock worth $649,000 after buying an additional 10,388 shares during the last quarter. Finally, Two Sigma Investments LP purchased a new position in PRA Group during the fourth quarter worth about $276,000. Hedge funds and other institutional investors own 97.22% of the company's stock.

PRA Group Trading Up 1.5%

Shares of PRAA traded up $0.21 during trading hours on Tuesday, reaching $14.26. The company had a trading volume of 157,547 shares, compared to its average volume of 292,691. The firm has a 50 day simple moving average of $16.69 and a 200-day simple moving average of $19.64. The company has a market capitalization of $565.54 million, a price-to-earnings ratio of 7.97 and a beta of 1.70. PRA Group, Inc. has a 12-month low of $12.91 and a 12-month high of $27.54.

PRA Group (NASDAQ:PRAA - Get Free Report) last announced its quarterly earnings results on Monday, May 5th. The business services provider reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.41 by ($0.32). PRA Group had a net margin of 6.33% and a return on equity of 5.16%. The firm had revenue of $269.62 million during the quarter, compared to analysts' expectations of $288.63 million. During the same quarter in the prior year, the business earned $0.09 EPS. The company's quarterly revenue was up 5.5% compared to the same quarter last year. Sell-side analysts forecast 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 several analyst reports. Wall Street Zen cut shares of PRA Group from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd. JMP Securities cut their target price on PRA Group from $30.00 to $23.00 and set a "market outperform" rating for the company in a research note on Tuesday, May 6th.

Insider Buying and Selling

In other PRA Group news, Director Brett Lee Paschke bought 5,000 shares of the business's stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $13.39 per share, with a total value of $66,950.00. Following the transaction, the director now directly owns 30,056 shares in the company, valued at approximately $402,449.84. This trade represents a 19.96% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.00% of the company's stock.

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.