Wellington Management Group LLP Buys 77,188 Shares of PRA Group, Inc. $PRAA

Wellington Management Group LLP grew its stake in shares of PRA Group, Inc. (NASDAQ:PRAA) by 10.3% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 827,720 shares of the business services provider’s stock after purchasing an additional 77,188 shares during the period. Wellington Management Group LLP owned approximately 2.20% of PRA Group worth $15,718,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in PRA Group in the 2nd quarter valued at about $84,183,000. Topline Capital Management LLC boosted its holdings in PRA Group by 168.3% in the second quarter. Topline Capital Management LLC now owns 2,250,629 shares of the business services provider’s stock worth $33,197,000 after acquiring an additional 1,411,707 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in PRA Group by 401.6% in the second quarter. Assenagon Asset Management S.A. now owns 601,444 shares of the business services provider’s stock valued at $11,421,000 after acquiring an additional 481,538 shares during the period. Millennium Management LLC grew its stake in PRA Group by 242.6% in the fourth quarter. Millennium Management LLC now owns 464,320 shares of the business services provider’s stock valued at $8,214,000 after acquiring an additional 328,804 shares during the period. Finally, Jane Street Group LLC grew its stake in PRA Group by 256.7% in the fourth quarter. Jane Street Group LLC now owns 397,207 shares of the business services provider’s stock valued at $7,027,000 after acquiring an additional 285,858 shares during the period. Institutional investors own 97.22% of the company’s stock.

PRA Group Stock Performance

Shares of NASDAQ:PRAA opened at $19.02 on Tuesday. The company’s 50-day moving average is $18.52 and its 200 day moving average is $17.56. The company has a market capitalization of $716.10 million, a P/E ratio of -2.83 and a beta of 1.11. PRA Group, Inc. has a fifty-two week low of $10.25 and a fifty-two week high of $22.55.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.99. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. The company had revenue of $372.17 million during the quarter, compared to analyst estimates of $299.99 million. As a group, research analysts predict that PRA Group, Inc. will post 3.93 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently issued reports on PRAA. Weiss Ratings reissued a “sell (d)” rating on shares of PRA Group in a research report on Wednesday, June 24th. Wall Street Zen downgraded shares of PRA Group from a “strong-buy” rating to a “buy” rating in a report on Saturday. Finally, Zacks Research raised shares of PRA Group from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PRA Group currently has an average rating of “Hold” and a consensus target price of $26.00.

About PRA Group

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.