Advent Capital Management DE Acquires New Shares in PRA Group, Inc. $PRAA

Advent Capital Management DE bought a new position in shares of PRA Group, Inc. (NASDAQ:PRAA) during the second quarter, HoldingsChannel reports. The fund bought 5,682 shares of the business services provider’s stock, valued at approximately $84,000.

Several other institutional investors also recently modified their holdings of PRAA. Topline Capital Management LLC acquired a new stake in PRA Group during the 1st quarter worth approximately $17,299,000. Capital Management Corp VA grew its stake in shares of PRA Group by 56.1% in the second quarter. Capital Management Corp VA now owns 551,523 shares of the business services provider’s stock worth $8,135,000 after purchasing an additional 198,152 shares during the last quarter. American Century Companies Inc. increased its holdings in PRA Group by 144.8% in the first quarter. American Century Companies Inc. now owns 280,525 shares of the business services provider’s stock valued at $5,784,000 after purchasing an additional 165,951 shares during the period. Nuveen LLC bought a new position in PRA Group during the 1st quarter worth $3,000,000. Finally, Global Alpha Capital Management Ltd. lifted its holdings in PRA Group by 6.4% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 2,018,200 shares of the business services provider’s stock worth $41,615,000 after buying an additional 122,200 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently commented on PRAA. Truist Financial reduced their target price on PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. Citigroup reaffirmed an “outperform” rating on shares of PRA Group in a research note on Tuesday, August 5th. JMP Securities set a $24.00 target price on shares of PRA Group and gave the stock a “market outperform” rating in a research note on Tuesday, August 5th. Zacks Research upgraded shares of PRA Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Wall Street Zen raised shares of PRA Group from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $25.00.

Insider Buying and Selling at PRA Group

In other news, Director Geir Olsen purchased 15,000 shares of PRA Group stock in a transaction that occurred on Thursday, November 6th. The shares were bought at an average cost of $14.15 per share, with a total value of $212,250.00. Following the completion of the purchase, the director directly owned 58,933 shares in the company, valued at approximately $833,901.95. This trade represents a 34.14% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.00% of the company’s stock.

PRA Group Price Performance

NASDAQ:PRAA opened at $16.20 on Friday. The company has a market cap of $631.85 million, a P/E ratio of 6.95 and a beta of 1.41. PRA Group, Inc. has a 1 year low of $12.29 and a 1 year high of $23.97. The stock’s fifty day moving average price is $14.91 and its two-hundred day moving average price is $15.37.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Monday, November 3rd. The business services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $247.08 million for the quarter, compared to analyst estimates of $295.77 million. PRA Group had a net margin of 8.10% and a return on equity of 6.52%. On average, analysts expect that PRA Group, Inc. will post 2.1 earnings per share for the current fiscal year.

PRA Group Company Profile

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.