PRA Group, Inc. (NASDAQ:PRAA) Short Interest Update

PRA Group, Inc. (NASDAQ:PRAA - Get Free Report) was the recipient of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 1,110,000 shares, an increase of 40.0% from the May 15th total of 793,100 shares. Approximately 2.9% of the shares of the company are short sold. Based on an average daily volume of 487,200 shares, the days-to-cover ratio is presently 2.3 days.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PRAA. JMP Securities lowered their price objective on PRA Group from $30.00 to $23.00 and set a "market outperform" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen downgraded shares of PRA Group from a "hold" rating to a "sell" rating in a report on Thursday, May 22nd.

PRA Group Price Performance

NASDAQ PRAA traded up $0.21 during trading on Thursday, reaching $14.64. The company's stock had a trading volume of 452,628 shares, compared to its average volume of 308,082. The firm has a fifty day moving average of $15.58 and a 200 day moving average of $19.10. PRA Group has a one year low of $12.91 and a one year high of $27.54. The stock has a market capitalization of $580.62 million, a PE ratio of 8.18 and a beta of 1.53.

PRA Group (NASDAQ:PRAA - Get Free Report) last announced its earnings results on Monday, May 5th. The business services provider reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.41 by ($0.32). PRA Group had a net margin of 6.27% and a return on equity of 5.09%. The company had revenue of $269.62 million for the quarter, compared to the consensus estimate of $288.63 million. During the same quarter in the previous year, the firm earned $0.09 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. Research analysts expect that PRA Group will post 2.1 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Brett Lee Paschke purchased 5,000 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were bought at an average price of $13.39 per share, with a total value of $66,950.00. Following the acquisition, the director now owns 30,056 shares of the company's stock, valued at $402,449.84. This trade represents a 19.96% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Voya Investment Management LLC lifted its stake in PRA Group by 31.0% during the first quarter. Voya Investment Management LLC now owns 33,028 shares of the business services provider's stock worth $681,000 after purchasing an additional 7,823 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of PRA Group by 3.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 109,004 shares of the business services provider's stock valued at $2,248,000 after buying an additional 4,010 shares in the last quarter. Aristeia Capital L.L.C. purchased a new position in shares of PRA Group during the 1st quarter valued at about $320,000. Caxton Associates LLP bought a new stake in PRA Group in the 1st quarter worth approximately $419,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in PRA Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider's stock worth $476,000 after buying an additional 1,020 shares in the last quarter. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

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.