PDT Partners LLC Takes $531,000 Position in PRA Group, Inc. $PRAA

PDT Partners LLC purchased a new stake in PRA Group, Inc. (NASDAQ:PRAA) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 27,961 shares of the business services provider’s stock, valued at approximately $531,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. grew its position 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 worth $11,421,000 after acquiring an additional 481,538 shares in the last quarter. OP Asset Management Ltd acquired a new position in shares of PRA Group during the 1st quarter worth $483,000. Walleye Capital LLC bought a new position in shares of PRA Group during the 1st quarter valued at $731,000. UBS Group AG lifted its stake in shares of PRA Group by 87.2% in the 4th quarter. UBS Group AG now owns 346,436 shares of the business services provider’s stock valued at $6,128,000 after purchasing an additional 161,407 shares during the last quarter. Finally, GSA Capital Partners LLP acquired a new stake in shares of PRA Group in the 2nd quarter valued at $951,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

PRAA has been the subject of a number of recent research reports. Zacks Research upgraded shares of PRA Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Wall Street Zen upgraded PRA Group from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 15th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, PRA Group presently has a consensus rating of “Hold” and a consensus price target of $26.00.

PRA Group Stock Down 0.8%

NASDAQ:PRAA opened at $19.29 on Friday. PRA Group, Inc. has a 12 month low of $10.25 and a 12 month high of $22.55. The firm has a market cap of $726.23 million, a price-to-earnings ratio of -2.87 and a beta of 1.11. The company’s 50 day moving average is $18.32 and its 200-day moving average is $17.17.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings data on Thursday, August 6th. The business services provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.99. The business had revenue of $372.17 million during the quarter, compared to analysts’ expectations of $299.99 million. PRA Group had a negative net margin of 19.91% and a positive return on equity of 15.56%. Research analysts predict that PRA Group, Inc. will post 3.93 EPS for the current fiscal year.

PRA Group Company 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.