PRA Group, Inc. $PRAA Stock Position Decreased by Royal Bank of Canada

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

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Virtus Advisers LLC bought a new stake in PRA Group in the 1st quarter valued at about $147,000. Point72 Asset Management L.P. purchased a new position in PRA Group during the fourth quarter valued at approximately $155,000. State of Wyoming lifted its position in PRA Group by 9.0% during the fourth quarter. State of Wyoming now owns 10,255 shares of the business services provider's stock valued at $214,000 after purchasing an additional 850 shares during the last quarter. Cetera Investment Advisers bought a new stake in PRA Group during the 4th quarter valued at $227,000. Finally, AlphaQuest LLC increased its position in PRA Group by 43.4% during the 1st quarter. AlphaQuest LLC now owns 11,024 shares of the business services provider's stock valued at $227,000 after purchasing an additional 3,334 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

PRA Group Stock Down 2.9%

NASDAQ:PRAA traded down $0.50 during mid-day trading on Friday, reaching $16.82. 182,677 shares of the stock were exchanged, compared to its average volume of 201,905. The company has a 50 day simple moving average of $16.22 and a 200-day simple moving average of $16.68. PRA Group, Inc. has a 1 year low of $12.91 and a 1 year high of $25.43. The stock has a market capitalization of $657.16 million, a P/E ratio of 7.22 and a beta of 1.50.

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

Wall Street Analysts Forecast Growth

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

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.