Global Alpha Capital Management Ltd. Grows Stock Holdings in PRA Group, Inc. (NASDAQ:PRAA)

Global Alpha Capital Management Ltd. grew its position in PRA Group, Inc. (NASDAQ:PRAA - Free Report) by 2.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,817,800 shares of the business services provider's stock after buying an additional 51,085 shares during the quarter. PRA Group accounts for approximately 2.6% of Global Alpha Capital Management Ltd.'s holdings, making the stock its 14th biggest holding. Global Alpha Capital Management Ltd. owned 4.61% of PRA Group worth $40,646,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its holdings in PRA Group by 353.3% during the 2nd 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 last quarter. Pinnacle Associates Ltd. raised its position in shares of PRA Group by 86.3% during 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 period. ClariVest Asset Management LLC acquired a new stake in shares of PRA Group during the second quarter worth $1,343,000. Cubist Systematic Strategies LLC acquired a new position in PRA Group during the second quarter valued at $1,142,000. Finally, State Board of Administration of Florida Retirement System increased its position in 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 purchasing an additional 42,950 shares during the last quarter. Hedge funds and other institutional investors own 97.22% of the company's stock.

PRA Group Stock Down 6.3 %

Shares of NASDAQ:PRAA traded down $1.40 during trading on Wednesday, hitting $20.92. 258,184 shares of the company were exchanged, compared to its average volume of 210,939. The company has a market capitalization of $824.88 million, a P/E ratio of 18.75 and a beta of 1.50. PRA Group, Inc. has a 1-year low of $17.34 and a 1-year high of $31.43. The business's 50 day moving average is $21.64 and its 200-day moving average is $21.97.

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Truist Financial increased their target price on PRA Group from $28.00 to $31.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. StockNews.com raised 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.