Public Employees Retirement System of Ohio Makes New Investment in PRA Group, Inc. $PRAA

Public Employees Retirement System of Ohio acquired a new stake in shares of PRA Group, Inc. (NASDAQ:PRAA) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 57,434 shares of the business services provider’s stock, valued at approximately $1,091,000. Public Employees Retirement System of Ohio owned about 0.15% of PRA Group as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in PRA Group in the 2nd quarter valued at approximately $84,183,000. Topline Capital Management LLC raised its stake in shares of PRA Group by 168.3% in the second quarter. Topline Capital Management LLC now owns 2,250,629 shares of the business services provider’s stock valued at $33,197,000 after purchasing an additional 1,411,707 shares in the last quarter. State Street Corp lifted its position in PRA Group by 0.3% in the fourth quarter. State Street Corp now owns 1,499,488 shares of the business services provider’s stock worth $26,526,000 after purchasing an additional 4,895 shares during the period. Wellington Management Group LLP increased its holdings in PRA Group by 13.7% in the 4th quarter. Wellington Management Group LLP now owns 1,296,830 shares of the business services provider’s stock valued at $22,941,000 after buying an additional 156,520 shares during the period. Finally, Invesco Ltd. raised its stake in shares of PRA Group by 15.5% in the 2nd quarter. Invesco Ltd. now owns 819,742 shares of the business services provider’s stock valued at $12,091,000 after buying an additional 109,857 shares in the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

PRA Group Price Performance

NASDAQ PRAA opened at $19.11 on Wednesday. The firm has a market cap of $719.49 million, a PE ratio of -2.84 and a beta of 1.11. PRA Group, Inc. has a one year low of $10.25 and a one year high of $22.55. The stock’s 50 day simple moving average is $18.52 and its 200 day simple moving average is $17.61.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings results on Thursday, August 6th. The business services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.99. The firm had revenue of $372.17 million during the quarter, compared to analysts’ expectations of $299.99 million. PRA Group had a positive return on equity of 15.56% and a negative net margin of 19.91%. As a group, equities analysts expect that PRA Group, Inc. will post 3.93 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PRAA shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a report on Wednesday, June 24th. Wall Street Zen cut shares of PRA Group from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Finally, Zacks Research raised PRA Group from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.00.

About PRA Group

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.