Chartwell Investment Partners LLC Sells 34,825 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Chartwell Investment Partners LLC lowered its stake in shares of PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 9.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 345,004 shares of the business services provider's stock after selling 34,825 shares during the quarter. Chartwell Investment Partners LLC owned about 0.88% of PRA Group worth $7,714,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Assenagon Asset Management S.A. raised its stake in PRA Group by 353.3% during the second quarter. Assenagon Asset Management S.A. now owns 194,235 shares of the business services provider's stock worth $3,819,000 after purchasing an additional 151,389 shares during the period. Pinnacle Associates Ltd. raised its position in shares of PRA Group by 86.3% in the 3rd quarter. Pinnacle Associates Ltd. now owns 297,545 shares of the business services provider's stock worth $6,653,000 after acquiring an additional 137,799 shares in the last quarter. ClariVest Asset Management LLC purchased a new position in shares of PRA Group during the second quarter worth about $1,343,000. Cubist Systematic Strategies LLC bought a new position in shares of PRA Group during the 2nd quarter valued at $1,142,000. Finally, State Board of Administration of Florida Retirement System lifted its holdings in shares of PRA Group by 389.5% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 53,977 shares of the business services provider's stock worth $1,408,000 after buying an additional 42,950 shares during the period. 97.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PRAA has been the subject of a number of research reports. Truist Financial boosted their target price 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 raised shares of PRA Group from a "hold" rating to a "buy" rating in a research note on Wednesday, October 16th.

PRA Group Price Performance

NASDAQ PRAA traded down $0.67 during trading hours on Tuesday, reaching $23.37. The company's stock had a trading volume of 172,448 shares, compared to its average volume of 210,578. The firm has a fifty day simple moving average of $21.45 and a 200-day simple moving average of $22.02. The stock has a market cap of $921.18 million, a P/E ratio of 21.85 and a beta of 1.50. PRA Group, Inc. has a 52 week low of $15.63 and a 52 week high of $31.43.

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

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.