Quest Partners LLC Cuts Stock Position in PRA Group, Inc. (NASDAQ:PRAA)

Quest Partners LLC decreased its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 39.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,177 shares of the business services provider’s stock after selling 4,002 shares during the period. Quest Partners LLC’s holdings in PRA Group were worth $138,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its position in shares of 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 purchasing an additional 151,389 shares in the last quarter. Pinnacle Associates Ltd. boosted its holdings in PRA Group by 86.3% in the third quarter. Pinnacle Associates Ltd. now owns 297,545 shares of the business services provider’s stock worth $6,653,000 after acquiring an additional 137,799 shares in the last quarter. ClariVest Asset Management LLC purchased a new stake in shares of PRA Group during the second quarter worth about $1,343,000. Cubist Systematic Strategies LLC acquired a new position in shares of PRA Group during the second quarter valued at about $1,142,000. Finally, Hsbc Holdings PLC raised its position in shares of PRA Group by 121.7% in the 2nd quarter. Hsbc Holdings PLC now owns 64,157 shares of the business services provider’s stock valued at $1,247,000 after purchasing an additional 35,219 shares during the last quarter. 97.22% of the stock is currently owned by institutional investors and hedge funds.

PRA Group Trading Up 0.1 %

PRAA opened at $21.47 on Friday. The firm has a 50 day moving average of $21.66 and a two-hundred day moving average of $21.81. The firm has a market capitalization of $846.56 million, a PE ratio of 19.52 and a beta of 1.50. PRA Group, Inc. has a 12-month low of $17.80 and a 12-month high of $31.43.

PRA Group (NASDAQ:PRAA) last posted 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. The company had revenue of $281.48 million for the quarter, compared to analyst estimates of $262.20 million. PRA Group had a net margin of 4.16% and a return on equity of 2.90%. The firm’s revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the company earned ($0.31) earnings per share. As a group, analysts predict that PRA Group, Inc. will post 1.57 EPS for the current fiscal year.

Analysts Set New Price Targets

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

About PRA Group

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.