PRA Group, Inc. (NASDAQ:PRAA) Shares Bought by Northern Trust Corp

Northern Trust Corp boosted its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 431,909 shares of the business services provider's stock after purchasing an additional 31,031 shares during the period. Northern Trust Corp owned about 1.10% of PRA Group worth $9,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in shares of PRA Group in the fourth quarter worth about $753,000. Barclays PLC raised its position in shares of PRA Group by 55.0% in the third quarter. Barclays PLC now owns 117,053 shares of the business services provider's stock worth $2,618,000 after acquiring an additional 41,525 shares during the period. JPMorgan Chase & Co. raised its position in shares of PRA Group by 40.2% in the third quarter. JPMorgan Chase & Co. now owns 74,937 shares of the business services provider's stock worth $1,676,000 after acquiring an additional 21,476 shares during the period. Global Alpha Capital Management Ltd. raised its position in shares of PRA Group by 4.3% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,896,000 shares of the business services provider's stock worth $39,607,000 after acquiring an additional 78,200 shares during the period. Finally, Capital Management Corp VA acquired a new position in shares of PRA Group in the fourth quarter worth about $4,659,000. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PRA Group

In other PRA Group news, Director Brett Lee Paschke acquired 5,000 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was bought at an average price of $13.39 per share, with a total value of $66,950.00. Following the purchase, the director now owns 30,056 shares in the company, valued at approximately $402,449.84. The trade was a 19.96% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. StockNews.com downgraded shares of PRA Group from a "buy" rating to a "hold" rating in a research report on Wednesday, May 7th. JMP Securities reduced their price target 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.

PRA Group Stock Up 0.8%

PRAA opened at $15.49 on Monday. PRA Group, Inc. has a twelve month low of $12.91 and a twelve month high of $27.54. The company has a 50-day moving average price of $18.01 and a 200 day moving average price of $20.35. The company has a market cap of $614.32 million, a PE ratio of 8.65 and a beta of 1.70.

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

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.

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