PRA Group Inc. (PRAA) Stake Lowered by New York State Teachers Retirement System
New York State Teachers Retirement System lowered its position in PRA Group Inc. (NASDAQ:PRAA) by 1.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,174 shares of the company’s stock after selling 1,700 shares during the period. New York State Teachers Retirement System’s holdings in PRA Group were worth $2,901,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of PRAA. Ngam Advisors L.P. raised its position in shares of PRA Group by 14.3% in the first quarter. Ngam Advisors L.P. now owns 15,922 shares of the company’s stock worth $468,000 after buying an additional 1,987 shares during the period. BlackRock Group LTD raised its position in shares of PRA Group by 7.6% in the first quarter. BlackRock Group LTD now owns 58,848 shares of the company’s stock worth $1,731,000 after buying an additional 4,180 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of PRA Group by 1.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,211,240 shares of the company’s stock worth $35,598,000 after buying an additional 21,785 shares during the period. M&T Bank Corp raised its position in shares of PRA Group by 20.6% in the first quarter. M&T Bank Corp now owns 12,839 shares of the company’s stock worth $377,000 after buying an additional 2,192 shares during the period. Finally, Huntington Asset Advisors Inc. acquired a new position in shares of PRA Group during the first quarter worth approximately $367,000.
Shares of PRA Group Inc. (NASDAQ:PRAA) traded down 1.92% during mid-day trading on Wednesday, reaching $33.15. The company’s stock had a trading volume of 301,670 shares. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 12.34 and a beta of 1.33. The firm has a 50 day moving average price of $32.79 and a 200 day moving average price of $29.01. PRA Group Inc. has a 52-week low of $20.00 and a 52-week high of $56.00.
PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Monday, August 8th. The company reported $0.83 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.83. The firm earned $228.50 million during the quarter, compared to the consensus estimate of $227.92 million. PRA Group had a return on equity of 19.50% and a net margin of 13.89%. The business’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the company earned $1.06 earnings per share. On average, equities analysts predict that PRA Group Inc. will post $2.95 EPS for the current fiscal year.
PRAA has been the subject of a number of research analyst reports. Zacks Investment Research upgraded PRA Group from a “sell” rating to a “hold” rating in a report on Tuesday, August 9th. William Blair restated an “outperform” rating on shares of PRA Group in a research note on Tuesday, September 20th. Finally, SunTrust Banks Inc. set a $42.00 target price on PRA Group and gave the company a “buy” rating in a research note on Tuesday. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $34.20.
In other PRA Group news, insider Michael J. Petit sold 8,300 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $28.93, for a total value of $240,119.00. Following the completion of the transaction, the insider now directly owns 116,857 shares in the company, valued at $3,380,673.01. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael J. Petit sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, October 7th. The shares were sold at an average price of $34.23, for a total value of $171,150.00. Following the completion of the transaction, the insider now owns 96,857 shares of the company’s stock, valued at $3,315,415.11. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.
PRA Group Company Profile
PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.
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