Intech Investment Management LLC Buys 8,250 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Intech Investment Management LLC lifted its stake in shares of PRA Group, Inc. (NASDAQ:PRAA) by 69.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,211 shares of the business services provider’s stock after purchasing an additional 8,250 shares during the period. Intech Investment Management LLC owned approximately 0.05% of PRA Group worth $452,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PRAA. Assenagon Asset Management S.A. raised its holdings in PRA Group by 353.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 194,235 shares of the business services provider’s stock worth $3,819,000 after buying an additional 151,389 shares during the period. Pinnacle Associates Ltd. boosted its holdings in shares of PRA Group by 86.3% during the 3rd quarter. Pinnacle Associates Ltd. now owns 297,545 shares of the business services provider’s stock worth $6,653,000 after buying an additional 137,799 shares during the period. ClariVest Asset Management LLC bought a new position in PRA Group in the 2nd quarter valued at about $1,343,000. Cubist Systematic Strategies LLC bought a new stake in shares of PRA Group during the second quarter worth approximately $1,142,000. Finally, Global Alpha Capital Management Ltd. grew its position in shares of PRA Group by 2.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 1,817,800 shares of the business services provider’s stock valued at $40,646,000 after purchasing an additional 51,085 shares during the last quarter. Institutional investors and hedge funds own 97.22% of the company’s stock.

PRA Group Stock Up 1.2 %

PRA Group stock opened at $21.46 on Tuesday. The company has a market capitalization of $846.10 million, a P/E ratio of 19.51 and a beta of 1.50. The firm has a 50 day moving average price of $21.61 and a 200-day moving average price of $21.72. PRA Group, Inc. has a twelve month low of $18.64 and a twelve month high of $31.43.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings results on Monday, November 4th. The business services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.37. PRA Group had a net margin of 4.16% and a return on equity of 2.90%. The firm had revenue of $281.48 million during the quarter, compared to analyst estimates of $262.20 million. During the same period in the previous year, the business earned ($0.31) EPS. The business’s revenue for the quarter was up 30.1% on a year-over-year basis. Equities analysts expect that PRA Group, Inc. will post 1.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PRAA. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Truist Financial boosted their target price on shares of PRA Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th.

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.