Geode Capital Management LLC Raises Stake in PRA Group, Inc. (PRAA)

Geode Capital Management LLC raised its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 6.1% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 383,914 shares of the business services provider’s stock after buying an additional 22,234 shares during the period. Geode Capital Management LLC owned about 0.83% of PRA Group worth $12,726,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in shares of PRA Group by 12.6% in the first quarter. Parkside Financial Bank & Trust now owns 3,243 shares of the business services provider’s stock worth $107,000 after buying an additional 364 shares during the period. Quantbot Technologies LP purchased a new stake in shares of PRA Group during the first quarter worth approximately $125,000. Ameritas Investment Partners Inc. purchased a new stake in shares of PRA Group during the first quarter worth approximately $132,000. State of Alaska Department of Revenue raised its stake in shares of PRA Group by 1.8% in the first quarter. State of Alaska Department of Revenue now owns 5,110 shares of the business services provider’s stock worth $169,000 after buying an additional 90 shares during the period. Finally, HighPoint Advisor Group LLC purchased a new stake in shares of PRA Group during the fourth quarter worth approximately $201,000.

PRA Group, Inc. (NASDAQ PRAA) traded down 1.14% during mid-day trading on Friday, reaching $30.35. The company had a trading volume of 650,479 shares. The stock has a 50 day moving average price of $37.21 and a 200 day moving average price of $36.05. The company has a market capitalization of $1.37 billion, a P/E ratio of 18.51 and a beta of 1.49. PRA Group, Inc. has a one year low of $23.15 and a one year high of $42.70.

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

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A number of analysts have recently commented on PRAA shares. BidaskClub upgraded PRA Group from a “hold” rating to a “buy” rating in a report on Thursday, June 29th. Zacks Investment Research upgraded PRA Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 2nd. Finally, Keefe, Bruyette & Woods started coverage on PRA Group in a report on Wednesday, May 24th. They issued an “outperform” rating and a $40.00 price target on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $38.00.

In related news, Director Geir Olsen purchased 142,000 shares of the business’s stock in a transaction on Tuesday, May 23rd. The stock was acquired at an average price of $34.55 per share, for a total transaction of $4,906,100.00. Following the purchase, the director now owns 27,162 shares of the company’s stock, valued at $938,447.10. The transaction was disclosed in a filing with the SEC, which is available at this link. 2.10% of the stock is currently owned by insiders.

About PRA Group

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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