Wolverine Asset Management LLC Purchases 22,114 Shares of 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 grew its position in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 63.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,698 shares of the business services provider's stock after purchasing an additional 22,114 shares during the quarter. Wolverine Asset Management LLC owned approximately 0.14% of PRA Group worth $1,169,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of PRAA. JPMorgan Chase & Co. raised its position in shares of PRA Group by 356.3% in the fourth quarter. JPMorgan Chase & Co. now owns 341,952 shares of the business services provider's stock valued at $7,143,000 after purchasing an additional 267,015 shares during the period. Franklin Resources Inc. bought a new position in shares of PRA Group in the fourth quarter valued at approximately $303,000. Wells Fargo & Company MN raised its position in shares of PRA Group by 27.3% in the fourth quarter. Wells Fargo & Company MN now owns 23,354 shares of the business services provider's stock valued at $488,000 after purchasing an additional 5,008 shares during the period. Envestnet Asset Management Inc. increased its position in PRA Group by 284.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 115,686 shares of the business services provider's stock worth $2,417,000 after acquiring an additional 85,593 shares during the period. Finally, Russell Investments Group Ltd. increased its position in PRA Group by 65.5% during the fourth quarter. Russell Investments Group Ltd. now owns 202,046 shares of the business services provider's stock worth $4,221,000 after acquiring an additional 79,987 shares during the period. Institutional investors own 97.22% of the company's stock.

PRA Group Stock Down 2.2%

PRAA traded down $0.37 during trading on Thursday, reaching $16.26. 71,007 shares of the company's stock were exchanged, compared to its average volume of 390,549. PRA Group, Inc. has a fifty-two week low of $12.91 and a fifty-two week high of $25.43. The business has a 50 day moving average price of $15.36 and a 200 day moving average price of $17.62. The company has a market capitalization of $635.43 million, a P/E ratio of 6.95 and a beta of 1.54.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on PRAA shares. Wall Street Zen raised shares of 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 target on shares of PRA Group and gave the stock 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.

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.