Nexus Investment Management ULC Sells 11,617 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Nexus Investment Management ULC lowered its position in PRA Group, Inc. (NASDAQ:PRAA) by 8.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 132,333 shares of the business services provider’s stock after selling 11,617 shares during the period. Nexus Investment Management ULC owned about 0.34% of PRA Group worth $2,764,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PRAA. FMR LLC raised its position in shares of PRA Group by 55.0% during the third quarter. FMR LLC now owns 1,707 shares of the business services provider’s stock valued at $38,000 after buying an additional 606 shares during the last quarter. Centiva Capital LP grew its stake 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 valued at $372,000 after acquiring an additional 701 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in PRA Group by 5.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,929 shares of the business services provider’s stock valued at $294,000 after acquiring an additional 712 shares during the last quarter. Sei Investments Co. lifted its stake in PRA Group by 0.9% in the 2nd quarter. Sei Investments Co. now owns 95,473 shares of the business services provider’s stock worth $1,877,000 after purchasing an additional 826 shares in the last quarter. Finally, Quarry LP boosted its holdings in shares of PRA Group by 282.6% during the 3rd quarter. Quarry LP now owns 1,316 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 972 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PRAA shares. 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, November 5th. StockNews.com raised PRA Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th.

PRA Group Stock Up 0.7 %

PRAA stock opened at $21.31 on Friday. PRA Group, Inc. has a 52 week low of $18.64 and a 52 week high of $31.43. The firm has a market capitalization of $840.25 million, a P/E ratio of 19.37 and a beta of 1.48. The company has a fifty day simple moving average of $21.22 and a two-hundred day simple moving average of $21.70.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, November 4th. The business services provider reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $262.20 million. During the same quarter last year, the firm earned ($0.31) EPS. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, analysts anticipate that PRA Group, Inc. will post 1.57 EPS for the current year.

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.