Assenagon Asset Management S.A. Boosts Stock Position in PRA Group, Inc. (NASDAQ:PRAA)

Assenagon Asset Management S.A. grew its stake in shares of PRA Group, Inc. (NASDAQ:PRAAFree Report) by 85.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 405,595 shares of the business services provider’s stock after buying an additional 186,724 shares during the period. Assenagon Asset Management S.A. owned 1.03% of PRA Group worth $8,363,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sterling Capital Management LLC raised its holdings in shares of PRA Group by 805.8% during the 4th quarter. Sterling Capital Management LLC now owns 1,241 shares of the business services provider’s stock worth $26,000 after acquiring an additional 1,104 shares in the last quarter. Quarry LP grew its position in PRA Group by 154.2% in the 4th quarter. Quarry LP now owns 3,345 shares of the business services provider’s stock valued at $70,000 after acquiring an additional 2,029 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in PRA Group in the 4th quarter valued at $134,000. Headlands Technologies LLC grew its position in PRA Group by 231.3% in the 4th quarter. Headlands Technologies LLC now owns 7,278 shares of the business services provider’s stock valued at $152,000 after acquiring an additional 5,081 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in PRA Group in the 4th quarter valued at $155,000. 97.22% of the stock is currently owned by institutional investors.

PRA Group Stock Down 2.5%

Shares of NASDAQ:PRAA opened at $14.55 on Friday. PRA Group, Inc. has a 52-week low of $12.91 and a 52-week high of $27.54. The stock has a market cap of $577.04 million, a price-to-earnings ratio of 8.13 and a beta of 1.54. The business has a 50-day moving average price of $15.75 and a 200-day moving average price of $19.22.

PRA Group (NASDAQ:PRAAGet Free Report) last announced its quarterly earnings results on Monday, May 5th. The business services provider reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.32). The company had revenue of $269.62 million for the quarter, compared to analysts’ expectations of $288.63 million. PRA Group had a net margin of 6.33% and a return on equity of 5.16%. The firm’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.09 earnings per share. As a group, equities analysts anticipate that PRA Group, Inc. will post 2.1 EPS for the current fiscal year.

Insider Activity at PRA Group

In other PRA Group news, Director Brett Lee Paschke acquired 5,000 shares of the company’s stock in a transaction on Wednesday, May 7th. The shares were bought at an average cost of $13.39 per share, with a total value of $66,950.00. Following the completion of the acquisition, the director now owns 30,056 shares in the company, valued at approximately $402,449.84. This trade represents a 19.96% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PRAA has been the topic of a number of recent research reports. JMP Securities dropped their price target on PRA Group from $30.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen cut PRA Group from a “hold” rating to a “sell” rating in a research note on Thursday, May 22nd.

Get Our Latest Stock Report on PRAA

PRA Group Company Profile

(Free Report)

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.

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Institutional Ownership by Quarter for PRA Group (NASDAQ:PRAA)

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