Squarepoint Ops LLC Purchases 76,505 Shares of PRA Group, Inc. $PRAA

Squarepoint Ops LLC grew its position in PRA Group, Inc. (NASDAQ:PRAA) by 437.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 93,999 shares of the business services provider’s stock after acquiring an additional 76,505 shares during the period. Squarepoint Ops LLC’s holdings in PRA Group were worth $1,386,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of PRAA. The Manufacturers Life Insurance Company increased its holdings in PRA Group by 5.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,523 shares of the business services provider’s stock valued at $214,000 after purchasing an additional 768 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of PRA Group by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 23,081 shares of the business services provider’s stock valued at $476,000 after buying an additional 1,020 shares in the last quarter. Legal & General Group Plc increased its stake in shares of PRA Group by 1.4% in the second quarter. Legal & General Group Plc now owns 105,951 shares of the business services provider’s stock valued at $1,563,000 after buying an additional 1,424 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of PRA Group by 0.6% in the second quarter. American Century Companies Inc. now owns 282,204 shares of the business services provider’s stock valued at $4,163,000 after buying an additional 1,679 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in PRA Group by 8.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 23,622 shares of the business services provider’s stock worth $347,000 after buying an additional 1,775 shares in the last quarter. 97.22% of the stock is owned by institutional investors and hedge funds.

PRA Group Price Performance

PRAA opened at $16.94 on Friday. The firm has a 50 day simple moving average of $15.51 and a 200 day simple moving average of $15.65. PRA Group, Inc. has a fifty-two week low of $12.29 and a fifty-two week high of $23.97. The company has a market cap of $660.83 million, a price-to-earnings ratio of -1.93 and a beta of 1.32.

PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, November 3rd. The business services provider reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.03. The firm had revenue of $247.08 million during the quarter, compared to analyst estimates of $295.77 million. PRA Group had a negative net margin of 29.55% and a positive return on equity of 7.03%. As a group, analysts expect that PRA Group, Inc. will post 2.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on PRAA shares. Weiss Ratings reaffirmed a “sell (d)” rating on shares of PRA Group in a research note on Monday. Zacks Research raised shares of PRA Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, November 6th. Finally, Truist Financial reduced their price objective on PRA Group from $33.00 to $26.00 and set a “buy” rating on the stock in a report on Tuesday, November 4th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $25.00.

Insider Buying and Selling

In related news, Director Geir Olsen acquired 15,000 shares of the company’s stock in a transaction that occurred on Thursday, November 6th. The stock was acquired at an average price of $14.15 per share, for a total transaction of $212,250.00. Following the completion of the acquisition, the director owned 58,933 shares of the company’s stock, valued at $833,901.95. This trade represents a 34.14% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.00% of the company’s stock.

PRA Group Company Profile

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.