Dark Forest Capital Management LP Buys Shares of 10,981 PRA Group, Inc. (NASDAQ:PRAA)

Dark Forest Capital Management LP bought a new position in PRA Group, Inc. (NASDAQ:PRAA) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,981 shares of the business services provider’s stock, valued at approximately $216,000.

A number of other large investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PRA Group in the second quarter worth approximately $29,000. nVerses Capital LLC boosted its stake in shares of PRA Group by 700.0% during the 2nd quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock worth $31,000 after acquiring an additional 1,400 shares during the last quarter. Innealta Capital LLC bought a new stake in shares of PRA Group during the 2nd quarter valued at $57,000. PNC Financial Services Group Inc. increased its stake in shares of PRA Group by 11.9% in the 4th quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock worth $103,000 after purchasing an additional 419 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in PRA Group in the 1st quarter worth $103,000. 97.22% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Geir Olsen acquired 11,750 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $21.39 per share, with a total value of $251,332.50. Following the acquisition, the director now directly owns 11,750 shares in the company, valued at approximately $251,332.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 2.00% of the stock is owned by insiders.

PRA Group Price Performance

Shares of PRAA stock opened at $22.36 on Tuesday. The company has a market capitalization of $879.91 million, a price-to-earnings ratio of -41.41 and a beta of 1.49. The company’s fifty day moving average price is $22.68 and its 200-day moving average price is $22.76. PRA Group, Inc. has a one year low of $11.85 and a one year high of $31.43.

PRA Group (NASDAQ:PRAA) last posted its quarterly earnings results on Monday, August 5th. The business services provider reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.46. The business had revenue of $284.20 million for the quarter, compared to analysts’ expectations of $245.04 million. PRA Group had a return on equity of 0.33% and a net margin of 0.40%. The business’s quarterly revenue was up 35.9% on a year-over-year basis. During the same period last year, the firm earned ($0.10) earnings per share. Equities research analysts expect that PRA Group, Inc. will post 1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on PRAA. Truist Financial cut their price target on PRA Group from $42.00 to $28.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th.

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.