TIAA CREF Investment Management LLC cut its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 125,002 shares of the business services provider’s stock after selling 7,157 shares during the period. TIAA CREF Investment Management LLC owned approximately 0.27% of PRA Group worth $4,144,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in PRAA. Parkside Financial Bank & Trust boosted its position 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 last quarter. Quantbot Technologies LP purchased a new position in shares of PRA Group during the first quarter worth approximately $125,000. Ameritas Investment Partners Inc. purchased a new position in shares of PRA Group during the first quarter worth approximately $132,000. State of Alaska Department of Revenue boosted its position 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 last quarter. Finally, HighPoint Advisor Group LLC purchased a new position in shares of PRA Group during the fourth quarter worth approximately $201,000.
Shares of PRA Group, Inc. (PRAA) traded down 1.14% on Friday, reaching $30.35. The company had a trading volume of 650,479 shares. The company’s 50-day moving average is $37.21 and its 200-day moving average is $36.05. PRA Group, Inc. has a one year low of $23.15 and a one year high of $42.70. The company has a market capitalization of $1.37 billion, a PE ratio of 18.51 and a beta of 1.49.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.48 by $0.23. The business had revenue of $200.30 million during the quarter, compared to the consensus estimate of $208.97 million. PRA Group had a return on equity of 4.69% and a net margin of 9.76%. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.83 earnings per share. Equities research analysts predict that PRA Group, Inc. will post $2.09 earnings per share for the current year.
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Several research analysts recently issued reports on the company. BidaskClub lowered PRA Group from a “buy” rating to a “hold” rating in a research report on Friday. Zacks Investment Research lowered PRA Group from a “hold” rating to a “sell” rating in a research report on Thursday, July 13th. Finally, Keefe, Bruyette & Woods assumed coverage on PRA Group in a research report on Wednesday, May 24th. They set an “outperform” rating and a $40.00 target price for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $38.00.
In other PRA Group news, Director Geir Olsen purchased 142,000 shares of the stock in a transaction on Tuesday, May 23rd. The stock was acquired at an average cost of $34.55 per share, with a total value of $4,906,100.00. Following the completion of the purchase, the director now directly owns 27,162 shares of the company’s stock, valued at approximately $938,447.10. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.10% of the company’s stock.
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.
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