Squarepoint Ops LLC Has $1.39 Million Position in PRA Group, Inc. $PRAA

Squarepoint Ops LLC increased its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA) by 437.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 93,999 shares of the business services provider’s stock after purchasing an additional 76,505 shares during the period. Squarepoint Ops LLC owned approximately 0.24% of PRA Group worth $1,386,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nomura Holdings Inc. acquired a new position in shares of PRA Group during the second quarter worth approximately $397,000. Public Sector Pension Investment Board increased its position in PRA Group by 8.1% during the second quarter. Public Sector Pension Investment Board now owns 135,212 shares of the business services provider’s stock worth $1,994,000 after acquiring an additional 10,129 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in PRA Group by 24.0% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 51,284 shares of the business services provider’s stock valued at $756,000 after purchasing an additional 9,912 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in PRA Group by 375.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider’s stock valued at $71,000 after purchasing an additional 3,777 shares during the last quarter. Finally, Topline Capital Management LLC boosted its holdings in PRA Group by 168.3% in the 2nd quarter. Topline Capital Management LLC now owns 2,250,629 shares of the business services provider’s stock valued at $33,197,000 after purchasing an additional 1,411,707 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.

Insider Activity at PRA Group

In related news, Director Geir Olsen purchased 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The shares were acquired at an average price of $14.15 per share, with a total value of $212,250.00. Following the purchase, the director directly owned 58,933 shares in the company, valued at $833,901.95. This represents a 34.14% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.00% of the stock is owned by company insiders.

PRA Group Stock Performance

Shares of PRA Group stock opened at $16.94 on Friday. The firm has a market cap of $660.83 million, a P/E ratio of -1.93 and a beta of 1.32. The firm’s 50-day simple moving average is $15.51 and its 200-day simple moving average is $15.65. PRA Group, Inc. has a twelve month low of $12.29 and a twelve month high of $23.97.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Monday, November 3rd. The business services provider reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.03. The firm had revenue of $247.08 million during the quarter, compared to analyst estimates of $295.77 million. PRA Group had a negative net margin of 29.55% and a positive return on equity of 7.03%. On average, equities analysts forecast that PRA Group, Inc. will post 2.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PRAA shares. Weiss Ratings restated a “sell (d)” rating on shares of PRA Group in a report on Monday. Truist Financial lowered their price target on PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a research note on Tuesday, November 4th. Finally, Zacks Research upgraded PRA Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $25.00.

PRA Group 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.