PRA Group Inc. (PRAA) Shares Bought by Cooke & Bieler LP
Cooke & Bieler LP increased its stake in PRA Group Inc. (NASDAQ:PRAA) by 70.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,132,117 shares of the company’s stock after buying an additional 466,228 shares during the period. Cooke & Bieler LP’s holdings in PRA Group were worth $27,329,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Global Alpha Capital Management Ltd. increased its position in PRA Group by 46.1% in the first quarter. Global Alpha Capital Management Ltd. now owns 143,900 shares of the company’s stock valued at $4,229,000 after buying an additional 45,400 shares during the period. Envestnet Asset Management Inc. increased its position in PRA Group by 33.2% in the first quarter. Envestnet Asset Management Inc. now owns 171,847 shares of the company’s stock valued at $5,051,000 after buying an additional 42,800 shares during the period. Genesee Valley Trust Co. bought a new position in PRA Group during the second quarter valued at approximately $900,000. BloombergSen Inc. increased its position in PRA Group by 1.6% in the second quarter. BloombergSen Inc. now owns 1,948,627 shares of the company’s stock valued at $47,040,000 after buying an additional 30,567 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in 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 valued at $35,598,000 after buying an additional 21,785 shares during the period.
PRA Group Inc. (NASDAQ:PRAA) traded down 0.62% during midday trading on Tuesday, reaching $32.10. The company had a trading volume of 98,010 shares. The stock has a market cap of $1.49 billion, a P/E ratio of 11.95 and a beta of 1.32. PRA Group Inc. has a 12 month low of $20.00 and a 12 month high of $56.00. The firm has a 50-day moving average of $33.12 and a 200-day moving average of $29.11.
PRA Group (NASDAQ:PRAA) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.83 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.83. The business earned $228.50 million during the quarter, compared to analysts’ expectations of $227.92 million. PRA Group had a return on equity of 19.50% and a net margin of 13.89%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.06 earnings per share. On average, equities analysts expect that PRA Group Inc. will post $2.95 EPS for the current fiscal year.
PRAA has been the subject of several analyst reports. Zacks Investment Research upgraded PRA Group from a “sell” rating to a “hold” rating in a research report on Tuesday, August 23rd. William Blair reaffirmed an “outperform” rating on shares of PRA Group in a report on Tuesday, September 20th. Finally, SunTrust Banks Inc. set a $42.00 price target on PRA Group and gave the company a “buy” rating in a report on Tuesday, October 11th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $34.20.
In related news, insider Michael J. Petit sold 8,300 shares of the business’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 sale, the insider now directly owns 116,857 shares in the company, valued at $3,380,673.01. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Michael J. Petit sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $34.21, for a total value of $513,150.00. Following the completion of the sale, the insider now owns 106,857 shares of the company’s stock, valued at $3,655,577.97. The disclosure for this sale can be found here. 1.70% of the stock is owned by corporate insiders.
About PRA Group
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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