PRA Group, Inc. (NASDAQ:PRAA) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp trimmed its holdings in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 51.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 265,978 shares of the business services provider's stock after selling 280,419 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.67% of PRA Group worth $5,484,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of PRAA. HighTower Advisors LLC purchased a new stake in shares of PRA Group in the fourth quarter worth approximately $447,000. Quantbot Technologies LP grew its stake in PRA Group by 30.8% in the fourth quarter. Quantbot Technologies LP now owns 8,002 shares of the business services provider's stock worth $167,000 after purchasing an additional 1,885 shares in the last quarter. American Century Companies Inc. grew its stake in PRA Group by 49.6% in the fourth quarter. American Century Companies Inc. now owns 114,574 shares of the business services provider's stock worth $2,393,000 after purchasing an additional 37,969 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in PRA Group in the fourth quarter worth approximately $134,000. Finally, Vanguard Group Inc. grew its stake in PRA Group by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 4,300,675 shares of the business services provider's stock worth $89,841,000 after purchasing an additional 21,625 shares in the last quarter. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

PRA Group Price Performance

NASDAQ PRAA traded down $0.10 during midday trading on Monday, hitting $15.65. 245,754 shares of the company traded hands, compared to its average volume of 280,473. The company has a market cap of $620.68 million, a PE ratio of 8.74 and a beta of 1.52. The company's 50-day simple moving average is $14.98 and its 200-day simple moving average is $18.02. PRA Group, Inc. has a 52 week low of $12.91 and a 52 week high of $27.54.

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

Wall Street Analysts Forecast Growth

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

Insider Transactions at PRA Group

In related news, Director Brett Lee Paschke bought 5,000 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were acquired at an average price of $13.39 per share, with a total value of $66,950.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 2.00% of the company's stock.

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.