Hsbc Holdings PLC Takes $2.27 Million Position in PRA Group, Inc. $PRAA

Hsbc Holdings PLC purchased a new position in shares of PRA Group, Inc. (NASDAQ:PRAA) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 123,822 shares of the business services provider’s stock, valued at approximately $2,275,000. Hsbc Holdings PLC owned about 0.33% of PRA Group at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PRAA. The Manufacturers Life Insurance Company grew its holdings in shares of PRA Group by 5.6% during the second quarter. The Manufacturers Life Insurance Company now owns 14,523 shares of the business services provider’s stock worth $214,000 after purchasing an additional 768 shares during the last quarter. Focus Partners Wealth grew its holdings in PRA Group by 1.0% during the 4th quarter. Focus Partners Wealth now owns 94,900 shares of the business services provider’s stock worth $1,679,000 after acquiring an additional 927 shares during the last quarter. Mariner LLC increased its position in PRA Group by 3.2% in the 3rd quarter. Mariner LLC now owns 31,045 shares of the business services provider’s stock valued at $479,000 after acquiring an additional 975 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of PRA Group by 4.6% during 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 in the last quarter. Finally, Federation des caisses Desjardins du Quebec grew its stake in shares of PRA Group by 1.4% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 77,216 shares of the business services provider’s stock valued at $1,366,000 after purchasing an additional 1,100 shares during the last quarter. Institutional investors own 97.22% of the company’s stock.

PRA Group Price Performance

PRAA stock opened at $19.14 on Monday. PRA Group, Inc. has a twelve month low of $10.25 and a twelve month high of $22.55. The company has a market cap of $720.58 million, a P/E ratio of -2.84 and a beta of 1.11. The business’s fifty day moving average is $18.40 and its 200-day moving average is $17.22.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.99. The business had revenue of $372.17 million during the quarter, compared to analysts’ expectations of $299.99 million. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%. Research analysts anticipate that PRA Group, Inc. will post 3.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PRAA has been the subject of several research analyst reports. Wall Street Zen upgraded shares of PRA Group from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Zacks Research upgraded PRA Group from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of PRA Group in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.00.

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.