Commerce Bank maintained its stake in PRA Group, Inc. (NASDAQ:PRAA) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,530 shares of the business services provider’s stock at the close of the second quarter. Commerce Bank’s holdings in PRA Group were worth $248,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Scout Investments Inc. grew its position in shares of PRA Group by 4.0% during the 2nd quarter. Scout Investments Inc. now owns 80,560 shares of the business services provider’s stock worth $3,053,000 after purchasing an additional 3,075 shares in the last quarter. Cim Investment Mangement Inc. acquired a new position in shares of PRA Group during the 2nd quarter worth approximately $358,000. Principal Financial Group Inc. grew its position in shares of PRA Group by 1.8% during the 2nd quarter. Principal Financial Group Inc. now owns 358,589 shares of the business services provider’s stock worth $13,591,000 after purchasing an additional 6,339 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of PRA Group by 12.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,829 shares of the business services provider’s stock worth $107,000 after purchasing an additional 304 shares in the last quarter. Finally, Tygh Capital Management Inc. grew its position in shares of PRA Group by 40.0% during the 2nd quarter. Tygh Capital Management Inc. now owns 124,475 shares of the business services provider’s stock worth $4,718,000 after purchasing an additional 35,568 shares in the last quarter.
PRA Group, Inc. (NASDAQ PRAA) opened at 29.35 on Wednesday. The firm’s 50 day moving average is $33.22 and its 200-day moving average is $34.75. PRA Group, Inc. has a 12 month low of $23.15 and a 12 month high of $42.70. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of 17.90 and a beta of 1.50.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.23). PRA Group had a net margin of 9.76% and a return on equity of 4.69%. The business had revenue of $200.30 million during the quarter, compared to the consensus estimate of $208.97 million. During the same period last year, the firm earned $0.83 EPS. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. On average, equities analysts forecast that PRA Group, Inc. will post $2.09 EPS for the current year.
PRAA has been the topic of a number of analyst reports. BidaskClub upgraded shares of PRA Group from a “hold” rating to a “buy” rating in a research report on Thursday, August 10th. Zacks Investment Research lowered shares of PRA Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Finally, Keefe, Bruyette & Woods initiated coverage on shares of PRA Group in a research report on Wednesday, May 24th. They set an “outperform” rating and a $40.00 target price on the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. PRA Group presently has a consensus rating of “Hold” and a consensus price target of $38.00.
PRA Group Company Profile
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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