Assenagon Asset Management S.A. Lowers Stock Position in PRA Group, Inc. (NASDAQ:PRAA)

Assenagon Asset Management S.A. lessened its holdings in PRA Group, Inc. (NASDAQ:PRAA) by 1.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 218,871 shares of the business services provider’s stock after selling 3,946 shares during the period. Assenagon Asset Management S.A. owned about 0.56% of PRA Group worth $4,572,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PRA Group during the second quarter valued at approximately $29,000. Quarry LP lifted its position in PRA Group by 282.6% during the third quarter. Quarry LP now owns 1,316 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 972 shares during the last quarter. FMR LLC lifted its position in PRA Group by 55.0% during the third quarter. FMR LLC now owns 1,707 shares of the business services provider’s stock valued at $38,000 after acquiring an additional 606 shares during the last quarter. Point72 DIFC Ltd lifted its position in PRA Group by 388.6% during the third quarter. Point72 DIFC Ltd now owns 2,150 shares of the business services provider’s stock valued at $48,000 after acquiring an additional 1,710 shares during the last quarter. Finally, nVerses Capital LLC lifted its position in PRA Group by 168.8% during the third quarter. nVerses Capital LLC now owns 4,300 shares of the business services provider’s stock valued at $96,000 after acquiring an additional 2,700 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PRAA shares. Truist Financial increased their target price on shares of PRA Group from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. StockNews.com raised shares of PRA Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th.

PRA Group Trading Up 0.7 %

NASDAQ PRAA opened at $21.31 on Tuesday. The company has a fifty day simple moving average of $21.17 and a two-hundred day simple moving average of $21.72. The stock has a market cap of $840.25 million, a P/E ratio of 19.37 and a beta of 1.48. PRA Group, Inc. has a 12-month low of $18.64 and a 12-month high of $31.43.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Monday, November 4th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.37. The business had revenue of $281.48 million during the quarter, compared to analysts’ expectations of $262.20 million. PRA Group had a net margin of 4.16% and a return on equity of 2.90%. The business’s quarterly revenue was up 30.1% on a year-over-year basis. During the same quarter last year, the company posted ($0.31) earnings per share. As a group, sell-side analysts forecast that PRA Group, Inc. will post 1.57 earnings per share 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.