Assenagon Asset Management S.A. Increases Stock Position in PRA Group, Inc. (NASDAQ:PRAA)

Assenagon Asset Management S.A. increased its position in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 14.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 222,817 shares of the business services provider's stock after acquiring an additional 28,582 shares during the period. Assenagon Asset Management S.A. owned about 0.57% of PRA Group worth $4,982,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PRA Group in the 2nd quarter valued at approximately $29,000. nVerses Capital LLC boosted its position 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. Innealta Capital LLC acquired a new position in shares of PRA Group in the second quarter worth about $57,000. PNC Financial Services Group Inc. lifted its stake in shares of PRA Group by 11.9% in the fourth 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 in the last quarter. Finally, SG Americas Securities LLC acquired a new stake in PRA Group during the first quarter valued at approximately $103,000. Institutional investors and hedge funds own 97.22% of the company's stock.

Insider Activity

In other PRA Group news, Director Geir Olsen acquired 11,750 shares of PRA Group stock in a transaction dated Wednesday, August 7th. The stock was bought at an average cost of $21.39 per share, for a total transaction of $251,332.50. Following the purchase, the director now directly owns 11,750 shares in the company, valued at approximately $251,332.50. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 2.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

PRAA has been the subject of a number of recent analyst reports. Truist Financial decreased their price objective on PRA Group from $42.00 to $28.00 and set a "buy" rating for the company in a report on Tuesday, August 20th. StockNews.com upgraded PRA Group from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th.

PRA Group Trading Up 5.9 %

PRAA stock traded up $1.11 during trading on Wednesday, reaching $19.99. 362,226 shares of the stock were exchanged, compared to its average volume of 201,826. PRA Group, Inc. has a twelve month low of $11.85 and a twelve month high of $31.43. The company has a market capitalization of $788.01 million, a P/E ratio of 199.92 and a beta of 1.49. The stock has a 50 day simple moving average of $21.49 and a 200-day simple moving average of $22.11.

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

PRA Group Company 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.