Royal Bank of Canada Sells 45,189 Shares of PRA Group, Inc. $PRAA

Royal Bank of Canada trimmed its position in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 4.4% in the first quarter, according to its most recent filing with the SEC. The fund owned 973,695 shares of the business services provider's stock after selling 45,189 shares during the period. Royal Bank of Canada owned 2.46% of PRA Group worth $20,078,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. State of Wyoming increased its holdings in PRA Group by 79.8% in the first quarter. State of Wyoming now owns 18,442 shares of the business services provider's stock valued at $380,000 after purchasing an additional 8,187 shares during the period. Topline Capital Management LLC acquired a new stake in PRA Group in the first quarter valued at $17,299,000. Trexquant Investment LP acquired a new stake in PRA Group in the first quarter valued at $1,173,000. Virtus Advisers LLC acquired a new stake in PRA Group in the first quarter valued at $147,000. Finally, Jump Financial LLC increased its holdings in PRA Group by 27.6% in the first quarter. Jump Financial LLC now owns 76,038 shares of the business services provider's stock valued at $1,568,000 after purchasing an additional 16,438 shares during the period. 97.22% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on PRAA shares. Wall Street Zen upgraded PRA Group from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Citigroup reiterated an "outperform" rating on shares of PRA Group in a report on Tuesday, August 5th. 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 investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $27.50.

PRA Group Price Performance

Shares of PRAA traded down $0.50 during trading hours on Friday, hitting $16.82. The stock had a trading volume of 182,677 shares, compared to its average volume of 201,905. The firm has a 50 day simple moving average of $16.22 and a 200-day simple moving average of $16.71. The firm has a market capitalization of $657.16 million, a P/E ratio of 7.22 and a beta of 1.50. PRA Group, Inc. has a 1-year low of $12.91 and a 1-year high of $25.43.

PRA Group (NASDAQ:PRAA - Get Free Report) last issued its earnings results on Monday, August 4th. The business services provider reported $1.08 EPS for the quarter, beating the consensus estimate 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%. Equities analysts predict that PRA Group, Inc. will post 2.1 EPS 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.