PRA Group, Inc. (NASDAQ:PRAA) Stock Holdings Decreased by Pinnacle Associates Ltd.

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 position in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 37.5% during the first quarter, according to its most recent 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 0.09% of PRA Group worth $741,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Man Group plc purchased a new position in shares of PRA Group in the 4th quarter valued at approximately $868,000. Assenagon Asset Management S.A. lifted its position in shares of PRA Group by 85.3% in the first quarter. Assenagon Asset Management S.A. now owns 405,595 shares of the business services provider's stock worth $8,363,000 after buying an additional 186,724 shares in the last quarter. Northern Trust Corp increased its stake in PRA Group by 7.7% during the fourth quarter. Northern Trust Corp now owns 431,909 shares of the business services provider's stock worth $9,023,000 after acquiring an additional 31,031 shares during the last quarter. Millennium Management LLC grew its stake in shares of PRA Group by 48.8% during the fourth quarter. Millennium Management LLC now owns 151,227 shares of the business services provider's stock valued at $3,159,000 after buying an additional 49,623 shares during the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in shares of PRA Group during the fourth quarter valued at approximately $1,676,000. Hedge funds and other institutional investors own 97.22% of the company's stock.

Insiders Place Their Bets

In other PRA Group news, Director Brett Lee Paschke purchased 5,000 shares of the stock in a transaction dated Wednesday, May 7th. The shares were acquired at an average cost of $13.39 per share, for a total transaction of $66,950.00. Following the completion of the transaction, the director directly owned 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 purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 2.00% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on PRAA. Wall Street Zen cut PRA Group from a "hold" rating to a "sell" rating in a research report on Thursday, May 22nd. JMP Securities decreased their price objective on PRA Group from $30.00 to $23.00 and set a "market outperform" rating for the company in a report on Tuesday, May 6th.

PRA Group Stock Down 1.2%

Shares of NASDAQ:PRAA traded down $0.18 during trading on Thursday, reaching $15.36. 81,179 shares of the company's stock traded hands, compared to its average volume of 390,503. PRA Group, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $27.54. The firm has a market cap of $609.18 million, a PE ratio of 8.58 and a beta of 1.52. The company has a 50-day simple moving average of $15.04 and a 200-day simple moving average of $17.99.

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 the consensus estimate of $0.41 by ($0.32). PRA Group had a return on equity of 5.09% and a net margin of 6.27%. The business had revenue of $269.62 million during the quarter, compared to analyst estimates of $288.63 million. During the same quarter last year, the firm earned $0.09 EPS. The business's revenue was up 5.5% on a year-over-year basis. On average, equities research analysts forecast that PRA Group, Inc. will post 2.1 EPS 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.