Connor Clark & Lunn Investment Management Ltd. Buys 18,407 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Connor Clark & Lunn Investment Management Ltd. increased its position in PRA Group, Inc. (NASDAQ:PRAA) by 117.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,087 shares of the business services provider’s stock after purchasing an additional 18,407 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.09% of PRA Group worth $762,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. SG Americas Securities LLC raised its holdings in PRA Group by 184.2% in the second quarter. SG Americas Securities LLC now owns 11,273 shares of the business services provider’s stock worth $222,000 after buying an additional 7,306 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in PRA Group by 353.3% in 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 acquiring an additional 151,389 shares during the last quarter. Innealta Capital LLC bought a new position in PRA Group in the 2nd quarter valued at approximately $57,000. nVerses Capital LLC boosted its stake in PRA Group by 700.0% during the 2nd quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Versor Investments LP bought a new stake in shares of PRA Group in the 2nd quarter worth $490,000. 97.22% of the stock is owned by hedge funds and other institutional investors.

PRA Group Trading Up 0.1 %

Shares of PRAA opened at $21.47 on Friday. The firm has a market cap of $846.56 million, a PE ratio of 19.52 and a beta of 1.50. PRA Group, Inc. has a 1-year low of $17.80 and a 1-year high of $31.43. The firm has a fifty day simple moving average of $21.66 and a two-hundred day simple moving average of $21.81.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PRAA. Truist Financial upped their price target on PRA Group from $28.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com upgraded shares of PRA Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th.

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.