Topline Capital Management LLC Purchases Shares of 838,922 PRA Group, Inc. $PRAA

Key Points

• Topline Capital Management LLC acquired a new stake in PRA Group, purchasing 838,922 shares valued at approximately $17.3 million, making it the fund’s 10th largest position.
• PRA Group reported earnings of $1.08 per share for the last quarter, significantly exceeding analyst expectations of $0.62, alongside revenues of $287.69 million.
• Analysts have a consensus “Buy” rating on PRA Group, with an average target price of $27.50, indicating confidence in the stock's potential growth.

Topline Capital Management LLC purchased a new stake in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 838,922 shares of the business services provider's stock, valued at approximately $17,299,000. PRA Group accounts for 3.9% of Topline Capital Management LLC's portfolio, making the stock its 10th biggest holding. Topline Capital Management LLC owned 2.12% of PRA Group as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Quarry LP increased its stake in PRA Group by 154.2% in the 4th quarter. Quarry LP now owns 3,345 shares of the business services provider's stock valued at $70,000 after buying an additional 2,029 shares during the period. Virtus Advisers LLC acquired a new position in PRA Group in the 1st quarter valued at approximately $147,000. Point72 Asset Management L.P. acquired a new position in PRA Group in the 4th quarter valued at approximately $155,000. State of Wyoming increased its stake in PRA Group by 9.0% in the 4th quarter. State of Wyoming now owns 10,255 shares of the business services provider's stock valued at $214,000 after buying an additional 850 shares during the period. Finally, Cetera Investment Advisers acquired a new position in PRA Group in the 4th quarter valued at approximately $227,000. Institutional investors and hedge funds own 97.22% of the company's stock.

PRA Group Price Performance

Shares of NASDAQ PRAA traded up $0.14 during trading hours on Monday, hitting $17.09. 163,539 shares of the stock were exchanged, compared to its average volume of 296,966. The company's 50 day moving average is $15.85 and its 200 day moving average is $17.05. The firm has a market capitalization of $667.71 million, a P/E ratio of 7.33 and a beta of 1.50. PRA Group, Inc. has a one year low of $12.91 and a one year 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 business had revenue of $287.69 million during the quarter, compared to the consensus estimate of $279.34 million. PRA Group had a net margin of 8.10% and a return on equity of 6.52%. Research analysts anticipate that PRA Group, Inc. will post 2.1 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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