Wolverine Asset Management LLC Increases Stock Holdings in PRA Group, Inc. (NASDAQ:PRAA)

Key Points

• Wolverine Asset Management LLC increased its stock holdings in PRA Group, Inc. by 63.9% during the first quarter, owning 56,698 shares now valued at approximately $1,169,000.
• A variety of institutional investors, including Vanguard Group Inc., Dimensional Fund Advisors LP, and Invesco Ltd., have also made significant adjustments to their positions in PRA Group, which now has 97.22% of its stock owned by institutions.
• PRA Group's recent earnings report indicated an EPS of $1.08, exceeding analysts' consensus estimates of $0.62, and the company also reported revenue of $287.69 million for the quarter.

Wolverine Asset Management LLC increased its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 63.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,698 shares of the business services provider's stock after buying an additional 22,114 shares during the period. Wolverine Asset Management LLC owned about 0.14% of PRA Group worth $1,169,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. lifted its position in shares of PRA Group by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 4,322,609 shares of the business services provider's stock valued at $89,132,000 after buying an additional 21,934 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in PRA Group by 6.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,934,124 shares of the business services provider's stock valued at $40,404,000 after purchasing an additional 121,109 shares during the last quarter. Royal Bank of Canada raised its stake in PRA Group by 15.6% in the 4th quarter. Royal Bank of Canada now owns 1,018,884 shares of the business services provider's stock valued at $21,284,000 after purchasing an additional 137,397 shares during the last quarter. Invesco Ltd. raised its stake in PRA Group by 195.7% in the 4th quarter. Invesco Ltd. now owns 799,307 shares of the business services provider's stock valued at $16,698,000 after purchasing an additional 529,041 shares during the last quarter. Finally, Northern Trust Corp raised its stake in PRA Group by 7.7% in the 4th quarter. Northern Trust Corp now owns 431,909 shares of the business services provider's stock valued at $9,023,000 after purchasing an additional 31,031 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PRAA shares. Citigroup reissued an "outperform" rating on shares of PRA Group in a research note on Tuesday. JMP Securities set a $24.00 price objective on PRA Group and gave the company a "market outperform" rating 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 research note on Saturday.

PRA Group Stock Down 1.6%

Shares of PRAA opened at $15.41 on Friday. PRA Group, Inc. has a 52-week low of $12.91 and a 52-week high of $25.43. The company has a market capitalization of $602.07 million, a PE ratio of 6.61 and a beta of 1.54. The stock has a fifty day simple moving average of $15.26 and a two-hundred day simple moving average of $17.71.

PRA Group (NASDAQ:PRAA - Get Free Report) last issued its earnings results on Monday, August 4th. The business services provider reported $1.08 earnings per share (EPS) for the quarter, topping 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 business had revenue of $287.69 million during the quarter, compared to the consensus estimate of $279.34 million. As a group, equities analysts anticipate that PRA Group, Inc. will post 2.1 earnings per share for the current fiscal year.

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.

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