Stoneridge Investment Partners LLC Takes Position in Pra Group Inc (PRAA)
Stoneridge Investment Partners LLC acquired a new stake in Pra Group Inc (NASDAQ:PRAA) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 11,865 shares of the business services provider’s stock, valued at approximately $394,000.
Other hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its stake in shares of Pra Group by 10.7% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 3,150 shares of the business services provider’s stock valued at $119,000 after purchasing an additional 305 shares during the period. Zions Bancorporation bought a new stake in shares of Pra Group in the 3rd quarter valued at approximately $121,000. SG Americas Securities LLC bought a new stake in shares of Pra Group in the 3rd quarter valued at approximately $189,000. Advisor Group Inc. grew its stake in shares of Pra Group by 3.5% in the 2nd quarter. Advisor Group Inc. now owns 5,829 shares of the business services provider’s stock valued at $221,000 after purchasing an additional 196 shares during the period. Finally, Amalgamated Bank grew its stake in shares of Pra Group by 2.5% in the 2nd quarter. Amalgamated Bank now owns 6,393 shares of the business services provider’s stock valued at $242,000 after purchasing an additional 154 shares during the period.
Several research firms have recently weighed in on PRAA. BidaskClub upgraded Pra Group from a “hold” rating to a “buy” rating in a research note on Wednesday. Zacks Investment Research upgraded Pra Group from a “sell” rating to a “hold” rating in a research note on Wednesday, January 31st. UBS Group started coverage on Pra Group in a research note on Monday, January 8th. They issued a “market perform” rating on the stock. Janney Montgomery Scott raised Pra Group from a “sell” rating to a “neutral” rating in a report on Thursday, November 9th. Finally, Oppenheimer started coverage on Pra Group in a report on Monday, January 8th. They issued a “hold” rating on the stock. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Pra Group presently has an average rating of “Hold” and an average price target of $40.00.
Pra Group (NASDAQ:PRAA) last announced its earnings results on Wednesday, November 8th. The business services provider reported $0.34 EPS for the quarter, missing the consensus estimate of $0.38 by ($0.04). The business had revenue of $201.00 million during the quarter, compared to analyst estimates of $196.96 million. Pra Group had a return on equity of 2.98% and a net margin of 7.57%. The firm’s revenue was down 9.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.68 earnings per share. equities research analysts anticipate that Pra Group Inc will post 1.38 EPS for the current year.
In other news, Director Penelope W. Kyle sold 1,975 shares of the business’s stock in a transaction that occurred on Saturday, December 29th. The stock was sold at an average price of $33.45, for a total value of $66,063.75. Following the transaction, the director now directly owns 36,425 shares of the company’s stock, valued at approximately $1,218,416.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.10% of the stock is owned by insiders.
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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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