Northern Trust Corp Buys 31,031 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Northern Trust Corp grew its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 7.7% during the fourth quarter, according to its most recent Form 13F filing with the 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 approximately 1.10% of PRA Group worth $9,023,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of the stock. Invesco Ltd. lifted its holdings in shares of PRA Group by 195.7% in the fourth quarter. Invesco Ltd. now owns 799,307 shares of the business services provider's stock valued at $16,698,000 after buying an additional 529,041 shares during the period. Raymond James Financial Inc. acquired a new position in PRA Group during the fourth quarter worth about $7,657,000. JPMorgan Chase & Co. raised its position in PRA Group by 356.3% in the fourth quarter. JPMorgan Chase & Co. now owns 341,952 shares of the business services provider's stock worth $7,143,000 after acquiring an additional 267,015 shares in the last quarter. Marshall Wace LLP lifted its holdings in PRA Group by 271.0% in the 4th quarter. Marshall Wace LLP now owns 337,166 shares of the business services provider's stock valued at $7,043,000 after acquiring an additional 246,282 shares during the last quarter. Finally, Capital Management Corp VA bought a new position in shares of PRA Group during the 4th quarter valued at about $4,659,000. Institutional investors and hedge funds own 97.22% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wall Street Zen cut shares of PRA Group from a "hold" rating to a "sell" rating in a research note on Thursday. JMP Securities decreased their price target on shares of PRA Group from $30.00 to $23.00 and set a "market outperform" rating on the stock in a research report on Tuesday, May 6th.

Insider Buying and Selling at PRA Group

In other 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, for a total transaction of $66,950.00. Following the completion of the acquisition, the director now owns 30,056 shares in the company, valued at approximately $402,449.84. This trade represents a 19.96% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company's stock.

PRA Group Trading Down 1.3%

Shares of PRAA traded down $0.18 during midday trading on Friday, hitting $13.63. The stock had a trading volume of 453,362 shares, compared to its average volume of 287,795. The business has a 50-day simple moving average of $17.48 and a two-hundred day simple moving average of $20.07. The firm has a market cap of $540.55 million, a P/E ratio of 7.61 and a beta of 1.70. PRA Group, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $27.54.

PRA Group (NASDAQ:PRAA - Get Free Report) last announced its quarterly earnings data 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 5.16% and a net margin of 6.33%. The business had revenue of $269.62 million for the quarter, compared to analyst estimates of $288.63 million. During the same quarter in the previous year, the business posted $0.09 earnings per share. The company's revenue was up 5.5% compared to the same quarter last year. On average, analysts expect that PRA Group, Inc. will post 2.1 earnings per share for the current fiscal 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.