First Mercantile Trust Co. raised its stake in shares of Pra Group Inc (NASDAQ:PRAA) by 9.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,482 shares of the business services provider’s stock after buying an additional 545 shares during the quarter. First Mercantile Trust Co.’s holdings in Pra Group were worth $219,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Stephens Investment Management Group LLC grew its holdings in Pra Group by 8.1% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,887,407 shares of the business services provider’s stock valued at $63,775,000 after buying an additional 141,241 shares during the last quarter. Pitcairn Co. boosted its holdings in shares of Pra Group by 11.7% during the second quarter. Pitcairn Co. now owns 15,678 shares of the business services provider’s stock worth $441,000 after purchasing an additional 1,641 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Pra Group by 3.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 450,791 shares of the business services provider’s stock worth $12,686,000 after purchasing an additional 13,043 shares during the last quarter. Morgan Stanley boosted its holdings in shares of Pra Group by 1,166.7% during the second quarter. Morgan Stanley now owns 202,131 shares of the business services provider’s stock worth $5,689,000 after purchasing an additional 186,174 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in shares of Pra Group by 2.2% during the second quarter. Northern Trust Corp now owns 703,259 shares of the business services provider’s stock worth $19,789,000 after purchasing an additional 15,118 shares during the last quarter.
PRAA has been the topic of several analyst reports. ValuEngine cut Pra Group from a “buy” rating to a “hold” rating in a report on Tuesday, October 1st. Buckingham Research raised their price objective on Pra Group from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Finally, BidaskClub cut Pra Group from a “buy” rating to a “hold” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Pra Group currently has a consensus rating of “Hold” and a consensus target price of $32.00.
Pra Group (NASDAQ:PRAA) last issued its earnings results on Thursday, November 7th. The business services provider reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.46 by $0.09. Pra Group had a return on equity of 5.16% and a net margin of 6.11%. The company had revenue of $250.01 million during the quarter, compared to the consensus estimate of $256.18 million. During the same period in the previous year, the firm posted $0.22 earnings per share. Pra Group’s quarterly revenue was up 10.7% compared to the same quarter last year. Sell-side analysts predict that Pra Group Inc will post 1.71 earnings per share for the current year.
In other Pra Group news, EVP Christopher B. Graves sold 2,500 shares of Pra Group stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $35.06, for a total value of $87,650.00. Following the completion of the transaction, the executive vice president now directly owns 74,180 shares in the company, valued at $2,600,750.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.68% of the company’s stock.
Pra Group Profile
PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans in the Americas and Europe. It is involved in the acquisition of accounts that are primarily the unpaid obligations of individuals owed to credit grantors, which include banks and other types of consumer, retail, and auto finance companies.
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