Invenomic Capital Management LP Has $6.42 Million Stock Position in PRA Group, Inc. $PRAA

Invenomic Capital Management LP boosted its stake in PRA Group, Inc. (NASDAQ:PRAA) by 14.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 415,481 shares of the business services provider’s stock after acquiring an additional 53,068 shares during the period. Invenomic Capital Management LP’s holdings in PRA Group were worth $6,415,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of PRA Group by 301.0% in the 3rd quarter. GAMMA Investing LLC now owns 1,684 shares of the business services provider’s stock worth $26,000 after purchasing an additional 1,264 shares during the period. CWM LLC lifted its holdings in PRA Group by 140.0% in the third quarter. CWM LLC now owns 4,618 shares of the business services provider’s stock valued at $71,000 after buying an additional 2,694 shares during the period. Tower Research Capital LLC TRC boosted its position in PRA Group by 375.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,784 shares of the business services provider’s stock valued at $71,000 after acquiring an additional 3,777 shares during the last quarter. Advent Capital Management DE acquired a new stake in PRA Group during the 2nd quarter worth about $84,000. Finally, Globeflex Capital L P acquired a new stake in PRA Group during the 2nd quarter worth about $102,000. Institutional investors and hedge funds own 97.22% of the company’s stock.

Wall Street Analysts Forecast Growth

PRAA has been the topic of a number of recent analyst reports. Citizens Jmp downgraded PRA Group from a “market outperform” rating to a “market perform” rating in a research note on Wednesday, January 28th. Citigroup cut PRA Group from an “outperform” rating to a “market perform” rating in a research note on Wednesday, January 28th. Zacks Research downgraded PRA Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of PRA Group in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.00.

PRA Group Trading Down 0.8%

Shares of NASDAQ PRAA opened at $16.73 on Monday. The firm has a market capitalization of $643.27 million, a P/E ratio of -2.14 and a beta of 1.23. The firm’s 50-day moving average price is $14.55 and its 200-day moving average price is $15.44. PRA Group, Inc. has a 1-year low of $10.25 and a 1-year high of $22.01.

PRA Group (NASDAQ:PRAA) last issued its earnings results on Thursday, February 26th. The business services provider reported $1.46 EPS for the quarter, beating the consensus estimate of $0.50 by $0.96. PRA Group had a positive return on equity of 10.50% and a negative net margin of 25.39%.The company had revenue of $333.39 million during the quarter, compared to the consensus estimate of $288.86 million. Equities research analysts forecast that PRA Group, Inc. will post 2.1 EPS for the current year.

PRA Group Profile

PRA Group, Inc is a global specialty finance company focused on the acquisition and management of nonperforming loans. Founded in 1996 as Portfolio Recovery Associates, the company purchases defaulted consumer and commercial receivables at discounted rates from financial institutions, utilities and other creditors. By combining rigorous analytics with a consumer-centric ethos, PRA Group seeks to maximize recoveries while maintaining respectful and compliant interactions with debtors.

The company’s core activities include first-party and third-party collections across a range of asset classes such as credit cards, auto loans and utility receivables.