Genesee Valley Trust Co. Buys New Stake in PRA Group Inc. (PRAA)
Genesee Valley Trust Co. bought a new stake in PRA Group Inc. (NASDAQ:PRAA) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 37,292 shares of the company’s stock, valued at approximately $900,000. Genesee Valley Trust Co. owned 0.08% of PRA Group at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Capstone Asset Management Co. raised its stake in PRA Group by 1.4% in the second quarter. Capstone Asset Management Co. now owns 14,068 shares of the company’s stock valued at $340,000 after buying an additional 200 shares in the last quarter. Squarepoint Ops LLC raised its stake in PRA Group by 28.5% in the first quarter. Squarepoint Ops LLC now owns 8,095 shares of the company’s stock valued at $238,000 after buying an additional 1,795 shares in the last quarter. Ngam Advisors L.P. raised its stake in PRA Group by 14.3% in the first quarter. Ngam Advisors L.P. now owns 15,922 shares of the company’s stock valued at $468,000 after buying an additional 1,987 shares in the last quarter. Avalon Advisors LLC raised its stake in PRA Group by 13.8% in the first quarter. Avalon Advisors LLC now owns 17,344 shares of the company’s stock valued at $510,000 after buying an additional 2,106 shares in the last quarter. Finally, M&T Bank Corp raised its stake in PRA Group by 20.6% in the first quarter. M&T Bank Corp now owns 12,839 shares of the company’s stock valued at $377,000 after buying an additional 2,192 shares in the last quarter.
PRA Group Inc. (NASDAQ:PRAA) traded down 2.04% on Tuesday, reaching $33.59. The company’s stock had a trading volume of 397,143 shares. PRA Group Inc. has a 12-month low of $20.00 and a 12-month high of $56.00. The firm has a 50-day moving average of $30.00 and a 200 day moving average of $28.48. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 12.50 and a beta of 1.41.
PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.83 earnings per share for the quarter, hitting the consensus estimate of $0.83. The business earned $228.50 million during the quarter, compared to the consensus estimate of $227.92 million. PRA Group had a return on equity of 19.50% and a net margin of 13.89%. The company’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company earned $1.06 earnings per share. On average, equities research analysts anticipate that PRA Group Inc. will post $2.95 EPS for the current fiscal year.
Several equities research analysts recently issued reports on the stock. William Blair reissued an “outperform” rating on shares of PRA Group in a report on Tuesday. Zacks Investment Research raised shares of PRA Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 16th. Finally, First Analysis assumed coverage on shares of PRA Group in a report on Tuesday, June 7th. They issued an “overweight” rating for the company. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $32.25.
In related news, insider Michael J. Petit sold 8,300 shares of PRA Group stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $28.93, for a total transaction of $240,119.00. Following the completion of the sale, the insider now owns 116,857 shares of the company’s stock, valued at $3,380,673.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael J. Petit sold 3,000 shares of PRA Group stock in a transaction dated Friday, July 22nd. The stock was sold at an average price of $28.11, for a total value of $84,330.00. Following the sale, the insider now directly owns 125,157 shares of the company’s stock, valued at approximately $3,518,163.27. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
About PRA Group
PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.
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