Texas Permanent School Fund Corp Purchases 7,158 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Texas Permanent School Fund Corp raised its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 20.9% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 41,334 shares of the business services provider’s stock after acquiring an additional 7,158 shares during the period. Texas Permanent School Fund Corp owned approximately 0.11% of PRA Group worth $813,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PRAA. Charles Schwab Investment Management Inc. boosted its holdings in shares of PRA Group by 13.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 666,396 shares of the business services provider’s stock worth $17,460,000 after acquiring an additional 77,819 shares during the period. BNP Paribas Financial Markets boosted its holdings in shares of PRA Group by 46.5% during the fourth quarter. BNP Paribas Financial Markets now owns 31,391 shares of the business services provider’s stock worth $822,000 after acquiring an additional 9,957 shares during the period. US Bancorp DE boosted its holdings in shares of PRA Group by 48.5% during the fourth quarter. US Bancorp DE now owns 44,237 shares of the business services provider’s stock worth $1,159,000 after acquiring an additional 14,453 shares during the period. Redwood Investment Management LLC bought a new stake in shares of PRA Group during the fourth quarter worth approximately $3,268,000. Finally, PNC Financial Services Group Inc. boosted its stake in shares of PRA Group by 11.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock valued at $103,000 after buying an additional 419 shares during the period. Institutional investors own 97.22% of the company’s stock.

Insider Buying and Selling at PRA Group

In other news, Director Geir Olsen acquired 11,750 shares of the stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $21.39 per share, for a total transaction of $251,332.50. Following the completion of the transaction, the director now directly owns 11,750 shares in the company, valued at $251,332.50. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.00% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PRAA shares. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Truist Financial cut their price target on PRA Group from $42.00 to $28.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th.

PRA Group Trading Down 3.9 %

Shares of PRAA stock opened at $22.10 on Friday. The stock has a market cap of $869.68 million, a P/E ratio of -40.93 and a beta of 1.49. The stock has a 50 day simple moving average of $22.72 and a 200 day simple moving average of $22.86. PRA Group, Inc. has a 1 year low of $11.85 and a 1 year high of $31.43.

PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Monday, August 5th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.46. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The business had revenue of $284.20 million during the quarter, compared to analysts’ expectations of $245.04 million. During the same period in the previous year, the company posted ($0.10) earnings per share. The firm’s revenue for the quarter was up 35.9% compared to the same quarter last year. Analysts forecast that PRA Group, Inc. will post 1.33 EPS for the current year.

PRA Group Company Profile

PRA Group, Inc, a financial and business services company, engages in the purchase, collection, and management of portfolios of nonperforming loans worldwide. It is involved in the purchase of accounts that are primarily the unpaid obligations of individuals owed to credit originators, which include banks and other types of consumer, retail, and auto finance companies.