145,489 Shares in PRA Group, Inc. $PRAA Purchased by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake in PRA Group, Inc., purchasing 145,489 shares valued at approximately $3 million, representing about 0.37% of the company's total shares.
• PRA Group reported strong earnings with an EPS of $1.08 for the last quarter, significantly exceeding the consensus estimate of $0.62.
• Multiple investment firms, including Vanguard Group and Royal Bank of Canada, have increased their holdings in PRA Group, which is predominantly owned (97.22%) by institutional investors.

Nuveen LLC bought a new stake in PRA Group, Inc. (NASDAQ:PRAA - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 145,489 shares of the business services provider's stock, valued at approximately $3,000,000. Nuveen LLC owned about 0.37% of PRA Group as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Global Alpha Capital Management Ltd. lifted its stake in PRA Group by 6.4% in the first quarter. Global Alpha Capital Management Ltd. now owns 2,018,200 shares of the business services provider's stock valued at $41,615,000 after buying an additional 122,200 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in PRA Group by 4.1% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 46,378 shares of the business services provider's stock valued at $956,000 after buying an additional 1,834 shares during the last quarter. Wolverine Asset Management LLC lifted its stake in PRA Group by 63.9% in the first quarter. Wolverine Asset Management LLC now owns 56,698 shares of the business services provider's stock valued at $1,169,000 after buying an additional 22,114 shares during the last quarter. Headlands Technologies LLC lifted its stake in PRA Group by 67.4% in the first quarter. Headlands Technologies LLC now owns 12,185 shares of the business services provider's stock valued at $251,000 after buying an additional 4,907 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in PRA Group by 156.1% in the first quarter. Deutsche Bank AG now owns 88,460 shares of the business services provider's stock valued at $1,824,000 after buying an additional 53,922 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on PRAA. Citigroup restated an "outperform" rating on shares of PRA Group in a research note on Tuesday, August 5th. Wall Street Zen upgraded shares of 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 objective on shares of PRA Group and gave the company 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 MarketBeat, the stock has an average rating of "Buy" and an average target price of $27.50.

PRA Group Trading Down 0.1%

NASDAQ:PRAA traded down $0.02 during mid-day trading on Wednesday, reaching $16.88. 164,322 shares of the stock were exchanged, compared to its average volume of 278,442. The business has a fifty day moving average price of $15.97 and a 200 day moving average price of $17.00. The firm has a market capitalization of $659.50 million, a PE ratio of 7.24 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.

PRA Group (NASDAQ:PRAA - Get Free Report) last released its earnings results 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 firm had revenue of $287.69 million for the quarter, compared to analyst estimates of $279.34 million. PRA Group had a return on equity of 6.52% and a net margin of 8.10%. On average, sell-side analysts forecast that PRA Group, Inc. will post 2.1 earnings per share for the current year.

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.