Wolverine Asset Management LLC Increases Position in PRA Group, Inc. (NASDAQ:PRAA)

Wolverine Asset Management LLC lifted its position in PRA Group, Inc. (NASDAQ:PRAA) by 84.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 34,584 shares of the business services provider’s stock after purchasing an additional 15,830 shares during the quarter. Wolverine Asset Management LLC’s holdings in PRA Group were worth $722,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Assenagon Asset Management S.A. boosted its position in shares of PRA Group by 14.7% during the third quarter. Assenagon Asset Management S.A. now owns 222,817 shares of the business services provider’s stock worth $4,982,000 after acquiring an additional 28,582 shares during the last quarter. Pinnacle Associates Ltd. boosted its position in shares of PRA Group by 86.3% during 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 during the last quarter. Global Alpha Capital Management Ltd. boosted its position in shares of PRA Group by 2.9% during the third quarter. Global Alpha Capital Management Ltd. now owns 1,817,800 shares of the business services provider’s stock worth $40,646,000 after acquiring an additional 51,085 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of PRA Group by 117.4% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,087 shares of the business services provider’s stock worth $762,000 after acquiring an additional 18,407 shares during the last quarter. Finally, Intech Investment Management LLC boosted its position in shares of PRA Group by 69.0% during the third quarter. Intech Investment Management LLC now owns 20,211 shares of the business services provider’s stock worth $452,000 after acquiring an additional 8,250 shares during the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

PRA Group Stock Down 0.4 %

PRAA stock opened at $22.57 on Friday. The firm has a 50 day moving average of $21.67 and a 200 day moving average of $21.71. The stock has a market capitalization of $889.87 million, a PE ratio of 12.61 and a beta of 1.49. PRA Group, Inc. has a 52 week low of $18.64 and a 52 week high of $28.64.

PRA Group (NASDAQ:PRAA) last released its earnings results on Wednesday, February 19th. The business services provider reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.02. PRA Group had a net margin of 6.33% and a return on equity of 5.16%. The company had revenue of $293.23 million during the quarter, compared to analysts’ expectations of $275.81 million. On average, equities research analysts expect that PRA Group, Inc. will post 2.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Truist Financial upped their target price on shares of PRA Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th.

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.