Quantinno Capital Management LP Trims Stock Holdings in PRA Group, Inc. $PRAA

Quantinno Capital Management LP lowered its stake in shares of PRA Group, Inc. (NASDAQ:PRAA) by 63.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,955 shares of the business services provider’s stock after selling 52,641 shares during the period. Quantinno Capital Management LP owned 0.08% of PRA Group worth $524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in PRA Group by 5.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,523 shares of the business services provider’s stock valued at $214,000 after purchasing an additional 768 shares in the last quarter. Focus Partners Wealth grew its holdings in shares of PRA Group by 1.0% during the fourth quarter. Focus Partners Wealth now owns 94,900 shares of the business services provider’s stock worth $1,679,000 after buying an additional 927 shares in the last quarter. Mariner LLC raised its position in shares of PRA Group by 3.2% in the third quarter. Mariner LLC now owns 31,045 shares of the business services provider’s stock valued at $479,000 after buying an additional 975 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of 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 valued at $476,000 after buying an additional 1,020 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec lifted its stake in shares of PRA Group by 1.4% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 77,216 shares of the business services provider’s stock valued at $1,366,000 after buying an additional 1,100 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PRAA. Zacks Research raised shares of PRA Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Weiss Ratings reissued a “sell (d)” rating on shares of PRA Group in a research note on Wednesday, June 24th. Finally, Wall Street Zen upgraded PRA Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $26.00.

PRA Group Price Performance

Shares of PRAA stock opened at $18.63 on Friday. The firm has a market cap of $701.42 million, a P/E ratio of -2.77 and a beta of 1.11. PRA Group, Inc. has a 1-year low of $10.25 and a 1-year high of $22.55. The firm’s 50-day simple moving average is $17.89 and its 200-day simple moving average is $16.89.

PRA Group (NASDAQ:PRAA) last released its earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.99. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. The firm had revenue of $372.17 million during the quarter, compared to the consensus estimate of $299.99 million. Analysts expect that PRA Group, Inc. will post 3.93 earnings per share for the current fiscal year.

PRA Group Profile

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.