JPMorgan Chase & Co. Sells 62,960 Shares of PRA Group, Inc. $PRAA

JPMorgan Chase & Co. reduced its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 28.9% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 154,901 shares of the business services provider’s stock after selling 62,960 shares during the quarter. JPMorgan Chase & Co.’s holdings in PRA Group were worth $2,392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in PRA Group by 301.0% in the third quarter. GAMMA Investing LLC now owns 1,684 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 1,264 shares during the last quarter. CWM LLC boosted its holdings in PRA Group by 140.0% in the third quarter. CWM LLC now owns 4,618 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 2,694 shares during the last quarter. Tower Research Capital LLC TRC boosted its holdings in PRA Group by 375.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 3,777 shares during the last quarter. Globeflex Capital L P bought a new stake in PRA Group in the second quarter valued at approximately $102,000. Finally, iSAM Funds UK Ltd bought a new stake in PRA Group in the third quarter valued at approximately $107,000. 97.22% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. Citizens Jmp cut PRA Group from a “market outperform” rating to a “market perform” rating in a report on Wednesday, January 28th. Weiss Ratings reiterated a “sell (d)” rating on shares of PRA Group in a report on Friday, March 27th. Citigroup cut PRA Group from an “outperform” rating to a “market perform” rating in a report on Wednesday, January 28th. Finally, Zacks Research cut PRA Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. One research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $25.00.

PRA Group Stock Performance

PRA Group stock opened at $18.04 on Tuesday. The stock has a market capitalization of $693.69 million, a price-to-earnings ratio of -2.31 and a beta of 1.14. PRA Group, Inc. has a 52-week low of $10.25 and a 52-week high of $19.83. The stock’s 50 day moving average price is $14.85 and its two-hundred day moving average price is $15.52.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Thursday, February 26th. The business services provider reported $1.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.96. The firm had revenue of $333.39 million for the quarter, compared to analysts’ expectations of $288.86 million. PRA Group had a positive return on equity of 10.50% and a negative net margin of 25.39%. On average, equities research analysts forecast that PRA Group, Inc. will post 2.1 EPS for the current year.

PRA Group 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.