Point72 DIFC Ltd Acquires 1,710 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Point72 DIFC Ltd increased its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA) by 388.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,150 shares of the business services provider’s stock after acquiring an additional 1,710 shares during the quarter. Point72 DIFC Ltd’s holdings in PRA Group were worth $48,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PRAA. FMR LLC raised its stake in shares of PRA Group by 55.0% during the 3rd quarter. FMR LLC now owns 1,707 shares of the business services provider’s stock worth $38,000 after purchasing an additional 606 shares during the period. Centiva Capital LP increased its holdings in PRA Group by 4.4% during the third quarter. Centiva Capital LP now owns 16,618 shares of the business services provider’s stock worth $372,000 after buying an additional 701 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in PRA Group by 5.0% in the second quarter. The Manufacturers Life Insurance Company now owns 14,929 shares of the business services provider’s stock worth $294,000 after acquiring an additional 712 shares during the period. Sei Investments Co. boosted its stake in PRA Group by 0.9% in the second quarter. Sei Investments Co. now owns 95,473 shares of the business services provider’s stock valued at $1,877,000 after acquiring an additional 826 shares during the last quarter. Finally, Quest Partners LLC grew its position in shares of PRA Group by 14.2% during the 2nd quarter. Quest Partners LLC now owns 10,179 shares of the business services provider’s stock valued at $200,000 after acquiring an additional 1,267 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms 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 upped their price target on PRA Group from $28.00 to $31.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th.

PRA Group Trading Up 5.5 %

Shares of PRA Group stock opened at $21.37 on Tuesday. The firm has a market capitalization of $842.62 million, a PE ratio of 19.43 and a beta of 1.49. PRA Group, Inc. has a 12 month low of $18.64 and a 12 month high of $31.43. The business’s 50-day moving average price is $21.41 and its 200-day moving average price is $21.62.

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

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.