PRA Group, Inc. (PRAA) Shares Sold by Credit Suisse AG
Credit Suisse AG cut its stake in PRA Group, Inc. (NASDAQ:PRAA) by 28.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 40,719 shares of the business services provider’s stock after selling 16,315 shares during the period. Credit Suisse AG’s holdings in PRA Group were worth $1,350,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of PRAA. BlackRock Inc. raised its stake in shares of PRA Group by 53,101.9% in the first quarter. BlackRock Inc. now owns 6,007,031 shares of the business services provider’s stock valued at $199,134,000 after buying an additional 5,995,740 shares during the period. Turtle Creek Asset Management Inc. raised its stake in shares of PRA Group by 104.0% in the first quarter. Turtle Creek Asset Management Inc. now owns 4,303,119 shares of the business services provider’s stock valued at $142,648,000 after buying an additional 2,194,100 shares during the period. Vanguard Group Inc. raised its stake in shares of PRA Group by 9.4% in the first quarter. Vanguard Group Inc. now owns 4,186,390 shares of the business services provider’s stock valued at $138,779,000 after buying an additional 360,823 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of PRA Group by 16.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,526,255 shares of the business services provider’s stock valued at $50,595,000 after buying an additional 215,028 shares during the period. Finally, WS Management Lllp raised its stake in shares of PRA Group by 12.3% in the first quarter. WS Management Lllp now owns 1,346,870 shares of the business services provider’s stock valued at $44,649,000 after buying an additional 147,230 shares during the period.
PRA Group, Inc. (NASDAQ:PRAA) traded down 0.407% during trading on Wednesday, hitting $30.575. 97,808 shares of the stock traded hands. PRA Group, Inc. has a 12 month low of $23.15 and a 12 month high of $42.70. The firm has a 50-day moving average price of $37.82 and a 200 day moving average price of $36.19. The firm has a market cap of $1.38 billion, a PE ratio of 18.643 and a beta of 1.49.
PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.48 by $0.23. PRA Group had a return on equity of 4.69% and a net margin of 9.76%. The business had revenue of $200.30 million during the quarter, compared to analysts’ expectations of $208.97 million. During the same period in the previous year, the company posted $0.83 EPS. PRA Group’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, equities analysts forecast that PRA Group, Inc. will post $2.09 EPS for the current fiscal year.
PRAA has been the subject of several research analyst reports. Keefe, Bruyette & Woods initiated coverage on shares of PRA Group in a report on Wednesday, May 24th. They issued an “outperform” rating and a $40.00 price objective for the company. Zacks Investment Research upgraded shares of PRA Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, BidaskClub upgraded shares of PRA Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $38.00.
In other PRA Group news, Director Geir Olsen purchased 142,000 shares of the stock in a transaction dated Tuesday, May 23rd. The stock was purchased at an average price of $34.55 per share, with a total value of $4,906,100.00. Following the transaction, the director now owns 27,162 shares of the company’s stock, valued at $938,447.10. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.10% of the stock is currently owned by corporate insiders.
About PRA Group
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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