PRA Group, Inc. $PRAA Stock Holdings Trimmed by Royal Bank of Canada

Key Points

• Royal Bank of Canada reduced its PRA Group stake by 14.8% in the first quarter, selling 139,063 shares and retaining 798,049 shares worth approximately $14.0 million. Institutional investors collectively own 97.22% of the company.
• Analyst sentiment remains cautious, with PRA Group carrying a consensus “Hold” rating and a $26 price target; ratings include one Buy, three Holds and one Sell.
• PRAA shares rose 9.0% to $19.79, while the company reported quarterly EPS of $1.51—well above the $0.52 consensus estimate—and revenue of $372.17 million versus expectations of $299.99 million.

Royal Bank of Canada lessened its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 14.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 798,049 shares of the business services provider's stock after selling 139,063 shares during the quarter. Royal Bank of Canada owned about 2.09% of PRA Group worth $13,966,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PRAA. Topline Capital Management LLC increased its holdings in shares of PRA Group by 168.3% during the second quarter. Topline Capital Management LLC now owns 2,250,629 shares of the business services provider's stock valued at $33,197,000 after purchasing an additional 1,411,707 shares during the period. State Street Corp grew its position in PRA Group by 0.3% in the 4th quarter. State Street Corp now owns 1,499,488 shares of the business services provider's stock valued at $26,526,000 after buying an additional 4,895 shares in the last quarter. Wellington Management Group LLP increased its stake in PRA Group by 13.7% during the 4th quarter. Wellington Management Group LLP now owns 1,296,830 shares of the business services provider's stock valued at $22,941,000 after buying an additional 156,520 shares during the period. Invesco Ltd. raised its position in shares of PRA Group by 15.5% during the 2nd quarter. Invesco Ltd. now owns 819,742 shares of the business services provider's stock worth $12,091,000 after buying an additional 109,857 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of PRA Group by 14.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 752,064 shares of the business services provider's stock worth $13,304,000 after buying an additional 95,179 shares in the last quarter. Institutional investors own 97.22% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Weiss Ratings reiterated a "sell (d)" rating on shares of PRA Group in a report on Wednesday, June 24th. Wall Street Zen cut PRA Group from a "strong-buy" rating to a "buy" rating in a report on Sunday, June 7th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, PRA Group has an average rating of "Hold" and a consensus price target of $26.00.

PRA Group Stock Up 9.0%

Shares of PRAA stock opened at $19.79 on Friday. The stock has a 50-day simple moving average of $17.09 and a 200 day simple moving average of $16.60. The stock has a market capitalization of $754.79 million, a P/E ratio of -2.94 and a beta of 1.11. PRA Group, Inc. has a fifty-two week low of $10.25 and a fifty-two week high of $22.55.

PRA Group (NASDAQ:PRAA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $0.52 by $0.99. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.86%. The firm had revenue of $372.17 million for the quarter, compared to analysts' expectations of $299.99 million. On average, sell-side analysts anticipate that PRA Group, Inc. will post 2.52 earnings per share for the current year.

About PRA Group

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company's core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.

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