PRA Group, Inc. (NASDAQ:PRAA) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its holdings in shares of PRA Group, Inc. (NASDAQ:PRAA) by 32.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,857 shares of the business services provider’s stock after selling 139,128 shares during the period. Jacobs Levy Equity Management Inc. owned about 0.73% of PRA Group worth $7,481,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. CWM LLC grew its stake in PRA Group by 90.5% during the 4th quarter. CWM LLC now owns 1,189 shares of the business services provider’s stock worth $31,000 after purchasing an additional 565 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of PRA Group by 11.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock worth $103,000 after buying an additional 419 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of PRA Group during the first quarter worth approximately $103,000. ProShare Advisors LLC acquired a new stake in PRA Group in the first quarter valued at approximately $203,000. Finally, Quadrature Capital Ltd acquired a new stake in PRA Group in the fourth quarter valued at approximately $454,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

PRA Group Stock Up 2.7 %

PRA Group stock traded up $0.69 during mid-day trading on Tuesday, hitting $25.83. The company had a trading volume of 161,430 shares, compared to its average volume of 198,296. PRA Group, Inc. has a 1 year low of $11.85 and a 1 year high of $31.43. The business has a fifty day moving average of $21.17 and a 200 day moving average of $23.40. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -47.83 and a beta of 1.48.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, May 6th. The business services provider reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.24. The firm had revenue of $255.59 million during the quarter, compared to analysts’ expectations of $233.37 million. PRA Group had a negative net margin of 2.37% and a negative return on equity of 1.76%. PRA Group’s quarterly revenue was up 64.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.50) earnings per share. Equities analysts anticipate that PRA Group, Inc. will post 0.7 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PRAA. StockNews.com downgraded shares of PRA Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 16th. JMP Securities reissued a “market outperform” rating and issued a $33.00 target price on shares of PRA Group in a report on Tuesday, May 7th.

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.