Charles Schwab Investment Management Inc. Sells 77,324 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Charles Schwab Investment Management Inc. trimmed its stake in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 12.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 547,751 shares of the business services provider's stock after selling 77,324 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.39% of PRA Group worth $12,248,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of PRAA. Intech Investment Management LLC lifted its stake in shares of PRA Group by 69.0% in the third quarter. Intech Investment Management LLC now owns 20,211 shares of the business services provider's stock worth $452,000 after buying an additional 8,250 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in PRA Group by 117.4% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,087 shares of the business services provider's stock valued at $762,000 after acquiring an additional 18,407 shares in the last quarter. Global Alpha Capital Management Ltd. lifted its position in PRA Group by 2.9% in the 3rd quarter. Global Alpha Capital Management Ltd. now owns 1,817,800 shares of the business services provider's stock valued at $40,646,000 after acquiring an additional 51,085 shares in the last quarter. Wolverine Asset Management LLC purchased a new stake in PRA Group during the 3rd quarter valued at $419,000. Finally, Pinnacle Associates Ltd. raised its stake in shares of PRA Group by 86.3% in the third quarter. Pinnacle Associates Ltd. now owns 297,545 shares of the business services provider's stock worth $6,653,000 after purchasing an additional 137,799 shares during the last quarter. 97.22% of the stock is owned by hedge funds and other institutional investors.

PRA Group Stock Performance

Shares of NASDAQ PRAA traded up $1.11 during midday trading on Monday, hitting $21.37. 413,598 shares of the stock traded hands, compared to its average volume of 211,858. The firm has a market capitalization of $842.62 million, a P/E ratio of 18.42 and a beta of 1.49. PRA Group, Inc. has a one year low of $18.64 and a one year high of $31.43. The firm has a 50-day moving average of $21.43 and a two-hundred day moving average of $21.62.

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

Wall Street Analyst Weigh In

Several research firms recently commented on PRAA. Truist Financial increased their price objective on PRA Group from $28.00 to $31.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. StockNews.com upgraded shares of PRA Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th.

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.