American Century Companies Inc. Has $5.78 Million Stake in PRA Group, Inc. $PRAA

Key Points

• American Century Companies Inc. increased its stake in PRA Group, Inc. by 144.8% in the first quarter, now owning 280,525 shares valued at $5,784,000.
• Three investment analysts currently rate PRA Group's stock as a Buy, with an average target price of $27.50.
• PRA Group recently reported earnings of $1.08 per share, significantly surpassing expectations, with revenues of $287.69 million for the quarter.

American Century Companies Inc. grew its stake in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 144.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 280,525 shares of the business services provider's stock after purchasing an additional 165,951 shares during the period. American Century Companies Inc. owned about 0.71% of PRA Group worth $5,784,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Quarry LP increased its position in PRA Group by 154.2% during the 4th quarter. Quarry LP now owns 3,345 shares of the business services provider's stock worth $70,000 after purchasing an additional 2,029 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of PRA Group during the fourth quarter worth $155,000. State of Wyoming increased its holdings in shares of PRA Group by 9.0% during the fourth quarter. State of Wyoming now owns 10,255 shares of the business services provider's stock worth $214,000 after buying an additional 850 shares in the last quarter. Cetera Investment Advisers acquired a new position in shares of PRA Group during the fourth quarter worth $227,000. Finally, Mariner LLC lifted its stake in shares of PRA Group by 4.8% in the 4th quarter. Mariner LLC now owns 11,175 shares of the business services provider's stock valued at $233,000 after acquiring an additional 515 shares during the last quarter. 97.22% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on PRAA shares. Citigroup restated an "outperform" rating on shares of PRA Group in a research report on Tuesday, August 5th. Wall Street Zen raised PRA Group from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, JMP Securities set a $24.00 price target on PRA Group and gave the stock a "market outperform" rating in a report on Tuesday, August 5th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $27.50.

PRA Group Stock Down 0.3%

Shares of NASDAQ PRAA traded down $0.06 during trading on Wednesday, reaching $16.85. The company had a trading volume of 13,171 shares, compared to its average volume of 377,358. The company's fifty day moving average price is $15.93 and its 200-day moving average price is $17.00. PRA Group, Inc. has a 12 month low of $12.91 and a 12 month high of $25.43. The stock has a market cap of $658.13 million, a P/E ratio of 7.21 and a beta of 1.50.

PRA Group (NASDAQ:PRAA - Get Free Report) last issued its quarterly earnings data on Monday, August 4th. The business services provider reported $1.08 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.62 by $0.46. The company had revenue of $287.69 million during the quarter, compared to the consensus estimate of $279.34 million. PRA Group had a return on equity of 6.52% and a net margin of 8.10%. As a group, equities analysts predict that PRA Group, Inc. will post 2.1 earnings per share 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.