PRA Group, Inc. (NASDAQ:PRAA) Sees Significant Growth in Short Interest

PRA Group, Inc. (NASDAQ:PRAA - Get Free Report) was the recipient of a significant increase in short interest in March. As of March 31st, there was short interest totalling 701,100 shares, an increase of 22.4% from the March 15th total of 572,900 shares. Currently, 1.9% of the company's stock are short sold. Based on an average trading volume of 302,800 shares, the days-to-cover ratio is presently 2.3 days.

PRA Group Stock Performance

Shares of NASDAQ:PRAA traded down $0.08 on Friday, hitting $18.29. 86,907 shares of the company's stock were exchanged, compared to its average volume of 245,368. PRA Group has a 1-year low of $15.94 and a 1-year high of $28.64. The company has a market capitalization of $722.44 million, a PE ratio of 10.22 and a beta of 1.52. The firm's 50-day moving average is $19.55 and its 200 day moving average is $20.80.

PRA Group (NASDAQ:PRAA - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02. The company had revenue of $293.23 million during the quarter, compared to the consensus estimate of $275.81 million. PRA Group had a net margin of 6.33% and a return on equity of 5.16%. On average, analysts anticipate that PRA Group will post 2.1 EPS for the current fiscal year.

Institutional Trading of PRA Group

Hedge funds and other institutional investors have recently made changes to their positions in the company. Invesco Ltd. boosted its stake in shares of PRA Group by 195.7% in the fourth quarter. Invesco Ltd. now owns 799,307 shares of the business services provider's stock valued at $16,698,000 after buying an additional 529,041 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of PRA Group during the 4th quarter worth $7,657,000. JPMorgan Chase & Co. grew its stake in shares of PRA Group by 356.3% during the 4th quarter. JPMorgan Chase & Co. now owns 341,952 shares of the business services provider's stock worth $7,143,000 after purchasing an additional 267,015 shares during the period. Marshall Wace LLP boosted its holdings in PRA Group by 271.0% during the fourth quarter. Marshall Wace LLP now owns 337,166 shares of the business services provider's stock worth $7,043,000 after buying an additional 246,282 shares in the last quarter. Finally, Capital Management Corp VA purchased a new stake in PRA Group during the fourth quarter worth about $4,659,000. Hedge funds and other institutional investors own 97.22% of the company's stock.

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.