Pinnacle Associates Ltd. Has $741,000 Stock Position in PRA Group, Inc. (NASDAQ:PRAA)

Key Points

• Pinnacle Associates Ltd. reduced its stake in PRA Group, Inc. by 37.5%, owning 35,921 shares valued at $741,000 as of the last quarter.
• Institutional investors hold approximately 97.22% of PRA Group's stock, with notable increases in holdings from firms like American Century Companies Inc. and Vanguard Group Inc.
• PRA Group reported an EPS of $0.09 for the last quarter, missing estimates significantly while showing a year-over-year revenue increase of 5.5%.

Pinnacle Associates Ltd. lessened its holdings in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 37.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,921 shares of the business services provider's stock after selling 21,590 shares during the period. Pinnacle Associates Ltd. owned about 0.09% of PRA Group worth $741,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PRAA. HighTower Advisors LLC bought a new stake in PRA Group during the 4th quarter worth approximately $447,000. Quantbot Technologies LP boosted its position in shares of PRA Group by 30.8% during the fourth quarter. Quantbot Technologies LP now owns 8,002 shares of the business services provider's stock valued at $167,000 after buying an additional 1,885 shares during the last quarter. American Century Companies Inc. grew its holdings in PRA Group by 49.6% during the fourth quarter. American Century Companies Inc. now owns 114,574 shares of the business services provider's stock worth $2,393,000 after buying an additional 37,969 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in PRA Group during the 4th quarter valued at $134,000. Finally, Vanguard Group Inc. boosted its holdings in PRA Group by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 4,300,675 shares of the business services provider's stock worth $89,841,000 after acquiring an additional 21,625 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company's stock.

Analyst Upgrades and Downgrades

PRAA has been the topic 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 decreased their price target on 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.

Insider Activity at PRA Group

In other news, Director Brett Lee Paschke purchased 5,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was bought at an average price of $13.39 per share, for a total transaction of $66,950.00. Following the purchase, the director owned 30,056 shares of the company's stock, valued at $402,449.84. The trade was a 19.96% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.00% of the stock is owned by corporate insiders.

PRA Group Stock Performance

Shares of PRAA stock opened at $15.75 on Monday. The firm has a market cap of $624.65 million, a price-to-earnings ratio of 8.80 and a beta of 1.52. PRA Group, Inc. has a 52 week low of $12.91 and a 52 week high of $27.54. The firm's 50-day simple moving average is $14.97 and its two-hundred day simple moving average is $18.05.

PRA Group (NASDAQ:PRAA - Get Free Report) last posted its quarterly earnings results on Monday, May 5th. The business services provider reported $0.09 EPS for the quarter, missing analysts' consensus estimates of $0.41 by ($0.32). PRA Group had a return on equity of 5.09% and a net margin of 6.27%. The company had revenue of $269.62 million during the quarter, compared to the consensus estimate of $288.63 million. During the same period last year, the firm posted $0.09 EPS. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. Analysts forecast that PRA Group, Inc. will post 2.1 earnings per share for the current year.

PRA Group Company 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.

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