OP Asset Management Ltd Acquires New Stake in PRA Group, Inc. $PRAA

OP Asset Management Ltd acquired a new position in PRA Group, Inc. (NASDAQ:PRAA) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,620 shares of the business services provider’s stock, valued at approximately $483,000. OP Asset Management Ltd owned about 0.07% of PRA Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in PRAA. Los Angeles Capital Management LLC purchased a new position in PRA Group during the 4th quarter valued at about $27,000. EverSource Wealth Advisors LLC lifted its stake in PRA Group by 145.6% in the 4th quarter. EverSource Wealth Advisors LLC now owns 2,481 shares of the business services provider’s stock worth $44,000 after purchasing an additional 1,471 shares in the last quarter. Larson Financial Group LLC boosted its holdings in PRA Group by 146.8% in the 4th quarter. Larson Financial Group LLC now owns 2,848 shares of the business services provider’s stock valued at $50,000 after purchasing an additional 1,694 shares during the period. Tower Research Capital LLC TRC grew its position in shares of PRA Group by 375.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 3,777 shares in the last quarter. Finally, Globeflex Capital L P bought a new position in shares of PRA Group in the second quarter worth $102,000. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PRAA. Wall Street Zen lowered PRA Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, June 7th. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $25.00.

PRA Group Stock Performance

PRA Group stock opened at $18.99 on Wednesday. PRA Group, Inc. has a fifty-two week low of $10.25 and a fifty-two week high of $22.55. The stock has a market cap of $724.28 million, a P/E ratio of -2.65 and a beta of 1.14. The firm’s fifty day moving average price is $17.14 and its 200-day moving average price is $16.47.

PRA Group (NASDAQ:PRAA) last announced its earnings results on Thursday, May 7th. The business services provider reported $0.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.22. PRA Group had a negative net margin of 22.51% and a positive return on equity of 13.19%. The company had revenue of $314.53 million during the quarter, compared to analyst estimates of $295.90 million. On average, analysts predict that PRA Group, Inc. will post 2.52 earnings per share 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.