Assenagon Asset Management S.A. Acquires 151,389 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Assenagon Asset Management S.A. raised its stake in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 353.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 194,235 shares of the business services provider's stock after acquiring an additional 151,389 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.49% of PRA Group worth $3,819,000 as of its most recent SEC filing.

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

Insider Buying and Selling

In other news, Director Geir Olsen purchased 11,750 shares of the business's stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $21.39 per share, with a total value of $251,332.50. Following the completion of the transaction, the director now owns 11,750 shares of the company's stock, valued at approximately $251,332.50. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. 2.00% of the stock is owned by insiders.

PRA Group Stock Performance

Shares of PRAA traded down $1.58 during mid-day trading on Tuesday, reaching $21.92. 111,706 shares of the company were exchanged, compared to its average volume of 200,674. The business has a 50 day simple moving average of $21.70 and a two-hundred day simple moving average of $23.34. The stock has a market capitalization of $862.60 million, a PE ratio of -42.00 and a beta of 1.48. PRA Group, Inc. has a 52 week low of $11.85 and a 52 week high of $31.43.

PRA Group (NASDAQ:PRAA - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.46. PRA Group had a net margin of 0.40% and a return on equity of 0.33%. The firm had revenue of $284.20 million during the quarter, compared to analyst estimates of $245.04 million. During the same quarter last year, the business earned ($0.10) EPS. The company's revenue was up 35.9% compared to the same quarter last year. On average, analysts predict that PRA Group, Inc. will post 1.33 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on PRAA shares. Truist Financial lowered their price objective on PRA Group from $42.00 to $28.00 and set a "buy" rating for the company in a research note on Tuesday. StockNews.com upgraded shares of PRA Group from a "hold" rating to a "buy" rating in a research report on Wednesday, August 7th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $33.00 price target on shares of PRA Group in a research note 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.