T. Rowe Price Investment Management Inc. Has $38.84 Million Stake in PRA Group, Inc. $PRAA

Key Points

• T. Rowe Price Investment Management Inc. has acquired an additional 21,627 shares of PRA Group, increasing its total ownership to approximately 1,883,567 shares, representing 4.75% of the company.
• The stock performance shows a market cap of $677.54 million and a recent earnings report where PRA Group exceeded expectations with an earnings per share of $1.08.
• Research analysts currently have a consensus rating of "Buy" for PRA Group, with an average target price of $27.50.

T. Rowe Price Investment Management Inc. increased its stake in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,883,567 shares of the business services provider's stock after purchasing an additional 21,627 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 4.75% of PRA Group worth $38,840,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of PRAA. Sterling Capital Management LLC lifted its holdings in PRA Group by 805.8% in the fourth quarter. Sterling Capital Management LLC now owns 1,241 shares of the business services provider's stock worth $26,000 after purchasing an additional 1,104 shares during the period. Quarry LP lifted its holdings in PRA Group by 154.2% in the fourth 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 during the period. Point72 Asset Management L.P. bought a new stake in PRA Group in the fourth quarter worth about $155,000. State of Wyoming raised its position in PRA Group by 9.0% in the fourth quarter. State of Wyoming now owns 10,255 shares of the business services provider's stock worth $214,000 after acquiring an additional 850 shares in the last quarter. Finally, Cetera Investment Advisers bought a new stake in PRA Group in the fourth quarter worth about $227,000. Institutional investors and hedge funds own 97.22% of the company's stock.

PRA Group Price Performance

NASDAQ PRAA traded up $0.02 on Friday, hitting $16.97. 21,825 shares of the company were exchanged, compared to its average volume of 379,970. The company's 50 day moving average price is $15.80 and its 200-day moving average price is $17.18. The firm has a market capitalization of $662.82 million, a P/E ratio of 7.28 and a beta of 1.54. PRA Group, Inc. has a twelve month low of $12.91 and a twelve month high of $25.43.

PRA Group (NASDAQ:PRAA - Get Free Report) last posted its quarterly earnings data on Monday, August 4th. The business services provider reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.46. The firm had revenue of $287.69 million for 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 expect that PRA Group, Inc. will post 2.1 EPS for the current year.

Analyst Ratings Changes

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

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.