BNP Paribas Financial Markets Decreases Position in PRA Group, Inc. (NASDAQ:PRAA)

BNP Paribas Financial Markets cut its stake in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 35.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,115 shares of the business services provider's stock after selling 27,559 shares during the period. BNP Paribas Financial Markets owned 0.13% of PRA Group worth $1,121,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PRA Group in the second quarter worth approximately $29,000. nVerses Capital LLC raised its holdings in shares of PRA Group by 700.0% in the second quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider's stock worth $31,000 after buying an additional 1,400 shares during the period. FMR LLC raised its holdings in shares of PRA Group by 55.0% in the third quarter. FMR LLC now owns 1,707 shares of the business services provider's stock worth $38,000 after buying an additional 606 shares during the period. Innealta Capital LLC purchased a new stake in shares of PRA Group in the second quarter worth approximately $57,000. Finally, Quest Partners LLC raised its holdings in shares of PRA Group by 14.2% in the second quarter. Quest Partners LLC now owns 10,179 shares of the business services provider's stock worth $200,000 after buying an additional 1,267 shares during the period. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

PRA Group Stock Up 1.3 %

NASDAQ:PRAA traded up $0.28 during midday trading on Wednesday, hitting $21.43. The stock had a trading volume of 183,364 shares, compared to its average volume of 211,882. PRA Group, Inc. has a one year low of $18.64 and a one year high of $31.43. The company has a market capitalization of $844.92 million, a price-to-earnings ratio of 19.23 and a beta of 1.49. The stock has a 50-day moving average of $21.40 and a 200 day moving average of $21.61.

PRA Group (NASDAQ:PRAA - Get Free Report) last announced its earnings results on Monday, November 4th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.37. The business had revenue of $281.48 million for the quarter, compared to analysts' expectations of $262.20 million. PRA Group had a return on equity of 2.90% and a net margin of 4.16%. The business's revenue for the quarter was up 30.1% on a year-over-year basis. During the same quarter last year, the firm earned ($0.31) EPS. On average, sell-side analysts anticipate that PRA Group, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PRAA has been the topic of several recent analyst reports. Truist Financial increased their price target 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 upgraded PRA Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th.

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.