Louisiana State Employees Retirement System Has $427,000 Stock Position in PRA Group, Inc. (NASDAQ:PRAA)

Louisiana State Employees Retirement System lowered its stake in shares of PRA Group, Inc. (NASDAQ:PRAA) by 3.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,100 shares of the business services provider’s stock after selling 700 shares during the quarter. Louisiana State Employees Retirement System’s holdings in PRA Group were worth $427,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PRAA. Global Alpha Capital Management Ltd. increased its holdings in shares of PRA Group by 5.4% during the 1st quarter. Global Alpha Capital Management Ltd. now owns 1,708,015 shares of the business services provider’s stock worth $44,545,000 after purchasing an additional 86,800 shares during the period. Hsbc Holdings PLC increased its stake in PRA Group by 121.7% during the second quarter. Hsbc Holdings PLC now owns 64,157 shares of the business services provider’s stock valued at $1,247,000 after acquiring an additional 35,219 shares during the period. State Board of Administration of Florida Retirement System raised its holdings in PRA Group by 389.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 53,977 shares of the business services provider’s stock valued at $1,408,000 after acquiring an additional 42,950 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in shares of PRA Group in the 2nd quarter worth approximately $1,343,000. Finally, Assenagon Asset Management S.A. grew its holdings in shares of PRA Group by 353.3% during the 2nd quarter. Assenagon Asset Management S.A. now owns 194,235 shares of the business services provider’s stock worth $3,819,000 after purchasing an additional 151,389 shares in the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

PRA Group Trading Up 3.7 %

NASDAQ PRAA opened at $24.72 on Thursday. PRA Group, Inc. has a 1-year low of $15.63 and a 1-year high of $31.43. The company has a market capitalization of $974.46 million, a price-to-earnings ratio of 22.47 and a beta of 1.50. The stock’s 50 day moving average is $21.40 and its two-hundred day moving average is $22.04.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, November 4th. The business services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.32 by $0.37. PRA Group had a return on equity of 2.94% and a net margin of 4.16%. The business had revenue of $281.48 million for the quarter, compared to analyst estimates of $262.20 million. During the same quarter in the previous year, the firm earned ($0.31) EPS. PRA Group’s quarterly revenue was up 30.1% on a year-over-year basis. On average, analysts predict that PRA Group, Inc. will post 1.33 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PRAA. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Truist Financial increased their price objective on shares of PRA Group from $28.00 to $31.00 and gave the company a “buy” rating in a research note on Tuesday.

PRA Group 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.