State of Alaska Department of Revenue Reduces Stock Holdings in PRA Group, Inc. (NASDAQ:PRAA)

State of Alaska Department of Revenue reduced its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 2.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 22,494 shares of the business services provider’s stock after selling 611 shares during the quarter. State of Alaska Department of Revenue’s holdings in PRA Group were worth $502,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Global Alpha Capital Management Ltd. increased its holdings in PRA Group by 5.4% in 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 acquiring an additional 86,800 shares in the last quarter. Hsbc Holdings PLC boosted its stake in PRA Group by 121.7% in the 2nd quarter. Hsbc Holdings PLC now owns 64,157 shares of the business services provider’s stock worth $1,247,000 after purchasing an additional 35,219 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in PRA Group by 389.5% during 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 buying an additional 42,950 shares in the last quarter. ClariVest Asset Management LLC bought a new stake in shares of PRA Group during the second quarter valued at approximately $1,343,000. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PRA Group by 353.3% in the second quarter. Assenagon Asset Management S.A. now owns 194,235 shares of the business services provider’s stock worth $3,819,000 after buying an additional 151,389 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

PRA Group Stock Performance

Shares of PRAA opened at $24.18 on Friday. The stock has a market capitalization of $953.18 million, a PE ratio of 21.98 and a beta of 1.50. The company’s fifty day moving average is $21.43 and its 200 day moving average is $22.06. PRA Group, Inc. has a fifty-two week low of $15.63 and a fifty-two week high of $31.43.

PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, November 4th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.37. PRA Group had a net margin of 4.16% and a return on equity of 2.90%. The firm had revenue of $281.48 million during the quarter, compared to analyst estimates of $262.20 million. During the same quarter last year, the business earned ($0.31) EPS. The business’s revenue was up 30.1% on a year-over-year basis. As a group, research analysts forecast that PRA Group, Inc. will post 1.57 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on PRAA shares. StockNews.com upgraded shares of PRA Group from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. Truist Financial lifted their target price on PRA Group from $28.00 to $31.00 and gave the stock a “buy” rating in a report 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.