PNC Financial Services Group Inc. reduced its holdings in PRA Group, Inc. (NASDAQ:PRAA) by 1.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,139,184 shares of the business services provider’s stock after selling 33,727 shares during the period. PNC Financial Services Group Inc. owned approximately 4.61% of PRA Group worth $81,076,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PRA Group by 12.0% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,829 shares of the business services provider’s stock worth $107,000 after purchasing an additional 304 shares during the period. Huntington National Bank boosted its stake in shares of PRA Group by 5.5% during the 2nd quarter. Huntington National Bank now owns 3,084 shares of the business services provider’s stock worth $117,000 after purchasing an additional 162 shares during the period. Quantbot Technologies LP purchased a new position in shares of PRA Group during the 1st quarter worth about $125,000. Ameritas Investment Partners Inc. purchased a new position in shares of PRA Group during the 1st quarter worth about $132,000. Finally, UBS Group AG boosted its stake in shares of PRA Group by 101.1% during the 1st quarter. UBS Group AG now owns 5,172 shares of the business services provider’s stock worth $171,000 after purchasing an additional 2,600 shares during the period.
PRA Group, Inc. (PRAA) traded down 0.69% during trading on Friday, hitting $28.80. 854,470 shares of the company were exchanged. The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 17.56 and a beta of 1.50. PRA Group, Inc. has a 12 month low of $23.15 and a 12 month high of $42.70. The stock’s 50-day moving average is $32.10 and its 200-day moving average is $34.49.
PRA Group (NASDAQ:PRAA) last announced its earnings results on Tuesday, August 8th. The business services provider reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.23). PRA Group had a net margin of 9.76% and a return on equity of 4.69%. The firm had revenue of $200.30 million for the quarter, compared to the consensus estimate of $208.97 million. During the same period in the prior year, the business earned $0.83 EPS. The company’s quarterly revenue was down 12.3% compared to the same quarter last year. Equities research analysts anticipate that PRA Group, Inc. will post $2.09 earnings per share for the current year.
A number of research firms recently commented on PRAA. Zacks Investment Research cut shares of PRA Group from a “hold” rating to a “sell” rating in a research note on Thursday, July 13th. BidaskClub cut shares of PRA Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods began coverage on shares of PRA Group in a research note on Wednesday, May 24th. They set an “outperform” rating and a $40.00 price target for the company. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $38.00.
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About PRA Group
PRA Group, Inc (PRA Group) is a financial and business services company with operations in the Americas and Europe. The Company’s primary business is the purchase, collection and management of portfolios of nonperforming loans. The Company operates through the account receivables management segment. It also provides fee-based services, such as vehicle location, skip tracing and collateral recovery for auto lenders, government entities and law enforcement; revenue administration, audit and revenue discovery/recovery services for local government entities; class action claims recovery services and purchases; servicing of consumer bankruptcy accounts in the United States, and contingent collections of nonperforming loans in Europe and South America.
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