Comerica Bank Decreases Stake in PRA Group, Inc. (PRAA)

Comerica Bank decreased its position in PRA Group, Inc. (NASDAQ:PRAA) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,086 shares of the business services provider’s stock after selling 3,012 shares during the quarter. Comerica Bank owned 0.11% of PRA Group worth $1,905,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. grew its position in shares of PRA Group by 53,101.9% in the 1st quarter. BlackRock Inc. now owns 6,007,031 shares of the business services provider’s stock worth $199,134,000 after acquiring an additional 5,995,740 shares in the last quarter. Turtle Creek Asset Management Inc. grew its position in shares of PRA Group by 104.0% in the 1st quarter. Turtle Creek Asset Management Inc. now owns 4,303,119 shares of the business services provider’s stock worth $142,648,000 after acquiring an additional 2,194,100 shares in the last quarter. Vanguard Group Inc. grew its position in shares of PRA Group by 9.4% in the 1st quarter. Vanguard Group Inc. now owns 4,186,390 shares of the business services provider’s stock worth $138,779,000 after acquiring an additional 360,823 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of PRA Group by 16.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,526,255 shares of the business services provider’s stock worth $50,595,000 after acquiring an additional 215,028 shares in the last quarter. Finally, WS Management Lllp grew its position in shares of PRA Group by 12.3% in the 1st quarter. WS Management Lllp now owns 1,346,870 shares of the business services provider’s stock worth $44,649,000 after acquiring an additional 147,230 shares in the last quarter.

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Several research analysts have recently commented on the company. Zacks Investment Research lowered PRA Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. BidaskClub lowered PRA Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods assumed coverage on PRA Group in a research report on Wednesday, May 24th. They issued an “outperform” rating and a $40.00 target price for the company. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. PRA Group has an average rating of “Hold” and an average price target of $38.00.

PRA Group, Inc. (NASDAQ PRAA) opened at 28.30 on Monday. The stock has a 50 day moving average price of $33.52 and a 200 day moving average price of $34.94. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 17.26 and a beta of 1.50. PRA Group, Inc. has a 12 month low of $23.15 and a 12 month high of $42.70.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by $0.23. The company had revenue of $200.30 million during the quarter, compared to analysts’ expectations of $208.97 million. PRA Group had a return on equity of 4.69% and a net margin of 9.76%. The company’s quarterly revenue was down 12.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.83 EPS. On average, equities analysts expect that PRA Group, Inc. will post $2.09 earnings per share for the current fiscal year.

PRA Group 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.

Institutional Ownership by Quarter for PRA Group (NASDAQ:PRAA)

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