Wellington Management Group LLP Purchases 77,188 Shares of PRA Group, Inc. $PRAA

Wellington Management Group LLP grew its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 10.3% during the second quarter, Holdings Channel reports. The institutional investor owned 827,720 shares of the business services provider’s stock after purchasing an additional 77,188 shares during the quarter. Wellington Management Group LLP’s holdings in PRA Group were worth $15,718,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in PRA Group by 5.6% in the second quarter. The Manufacturers Life Insurance Company now owns 14,523 shares of the business services provider’s stock worth $214,000 after acquiring an additional 768 shares in the last quarter. Focus Partners Wealth raised its position in PRA Group by 1.0% during the fourth quarter. Focus Partners Wealth now owns 94,900 shares of the business services provider’s stock valued at $1,679,000 after purchasing an additional 927 shares in the last quarter. Mariner LLC lifted its stake in PRA Group by 3.2% during the third quarter. Mariner LLC now owns 31,045 shares of the business services provider’s stock worth $479,000 after purchasing an additional 975 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in PRA Group by 4.6% during 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 purchasing an additional 1,020 shares during the last quarter. Finally, Federation des caisses Desjardins du Quebec boosted its holdings in shares of PRA Group by 1.4% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 77,216 shares of the business services provider’s stock worth $1,366,000 after purchasing an additional 1,100 shares in the last quarter. Institutional investors own 97.22% of the company’s stock.

PRA Group Price Performance

Shares of PRA Group stock opened at $19.02 on Tuesday. The company’s fifty day simple moving average is $18.52 and its two-hundred day simple moving average is $17.56. PRA Group, Inc. has a 12-month low of $10.25 and a 12-month high of $22.55. The firm has a market cap of $716.10 million, a PE ratio of -2.83 and a beta of 1.11.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.51 EPS for the quarter, beating the consensus estimate 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. As a group, sell-side analysts expect that PRA Group, Inc. will post 3.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

PRA Group Company 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.