Wellington Management Group LLP Buys 120,965 Shares of PRA Group, Inc. $PRAA

Key Points

• Wellington Management Group LLP increased its stake in PRA Group, Inc. by 3.2% in the first quarter, owning approximately 9.79% of the company's stock worth $80 million.
• PRA Group reported $1.08 earnings per share (EPS) for its last quarter, significantly surpassing analysts' estimates of $0.62.
• Analysts have given PRA Group a consensus rating of "Buy" with an average price target of $27.50, indicating positive expectations for the stock's future performance.

Wellington Management Group LLP lifted its position in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,881,917 shares of the business services provider's stock after buying an additional 120,965 shares during the period. Wellington Management Group LLP owned about 9.79% of PRA Group worth $80,045,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN increased its stake in PRA Group by 27.3% in the 4th quarter. Wells Fargo & Company MN now owns 23,354 shares of the business services provider's stock worth $488,000 after purchasing an additional 5,008 shares during the period. Envestnet Asset Management Inc. increased its stake in PRA Group by 284.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 115,686 shares of the business services provider's stock worth $2,417,000 after purchasing an additional 85,593 shares during the period. Renaissance Technologies LLC increased its stake in PRA Group by 72.7% in the 4th quarter. Renaissance Technologies LLC now owns 104,797 shares of the business services provider's stock worth $2,189,000 after purchasing an additional 44,100 shares during the period. Sterling Capital Management LLC grew its position in shares of PRA Group by 805.8% in the 4th quarter. Sterling Capital Management LLC now owns 1,241 shares of the business services provider's stock worth $26,000 after buying an additional 1,104 shares during the last quarter. Finally, Barclays PLC grew its position in shares of PRA Group by 4.8% in the 4th quarter. Barclays PLC now owns 122,629 shares of the business services provider's stock worth $2,562,000 after buying an additional 5,576 shares during the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

PRA Group Trading Down 1.2%

PRA Group stock traded down $0.21 during mid-day trading on Thursday, hitting $16.88. The company had a trading volume of 46,163 shares, compared to its average volume of 381,008. The stock's 50 day moving average price is $15.76 and its two-hundred day moving average price is $17.22. PRA Group, Inc. has a 12 month low of $12.91 and a 12 month high of $25.43. The company has a market capitalization of $659.50 million, a PE ratio of 7.24 and a beta of 1.54.

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

Analysts Set New Price Targets

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

PRA Group Company 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.