Assenagon Asset Management S.A. Sells 88,653 Shares of PRA Group, Inc. $PRAA

Assenagon Asset Management S.A. decreased its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 42.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 118,041 shares of the business services provider’s stock after selling 88,653 shares during the period. Assenagon Asset Management S.A.’s holdings in PRA Group were worth $1,823,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its position 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 acquiring an additional 768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 worth $476,000 after purchasing an additional 1,020 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of PRA Group by 301.0% during the third quarter. GAMMA Investing LLC now owns 1,684 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 1,264 shares in the last quarter. Legal & General Group Plc boosted its position in shares of PRA Group by 1.4% during the second quarter. Legal & General Group Plc now owns 105,951 shares of the business services provider’s stock valued at $1,563,000 after buying an additional 1,424 shares during the last quarter. Finally, American Century Companies Inc. increased its holdings in PRA Group by 0.6% in the 2nd quarter. American Century Companies Inc. now owns 282,204 shares of the business services provider’s stock worth $4,163,000 after buying an additional 1,679 shares in the last quarter. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PRA Group news, Director Geir Olsen purchased 15,000 shares of the company’s stock in a transaction dated Thursday, November 6th. The shares were acquired at an average price of $14.15 per share, for a total transaction of $212,250.00. Following the purchase, the director directly owned 58,933 shares of the company’s stock, valued at $833,901.95. The trade was a 34.14% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on PRAA shares. Zacks Research upgraded shares of PRA Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, November 6th. Truist Financial decreased their price objective on shares of PRA Group from $33.00 to $26.00 and set a “buy” rating for the company in a report on Tuesday, November 4th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a report on Monday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $25.00.

PRA Group Stock Down 0.9%

PRA Group stock opened at $17.37 on Wednesday. PRA Group, Inc. has a 52-week low of $12.29 and a 52-week high of $23.97. The company has a market cap of $677.60 million, a P/E ratio of -1.98 and a beta of 1.32. The business has a 50-day simple moving average of $15.65 and a two-hundred day simple moving average of $15.71.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Monday, November 3rd. The business services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.03. The firm had revenue of $247.08 million for the quarter, compared to analysts’ expectations of $295.77 million. PRA Group had a negative net margin of 29.55% and a positive return on equity of 7.03%. Research analysts anticipate that PRA Group, Inc. will post 2.1 EPS for the current fiscal year.

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.