ClearAlpha Technologies LP Makes New Investment in PRA Group, Inc. (NASDAQ:PRAA)

ClearAlpha Technologies LP acquired a new stake in PRA Group, Inc. (NASDAQ:PRAA) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 13,143 shares of the business services provider’s stock, valued at approximately $294,000.

Other institutional investors have also modified their holdings of the company. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PRA Group during the 2nd quarter worth $29,000. nVerses Capital LLC lifted its stake in shares of PRA Group by 700.0% during the second quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock worth $31,000 after purchasing an additional 1,400 shares in the last quarter. FMR LLC boosted its position in shares of PRA Group by 55.0% in the third quarter. FMR LLC now owns 1,707 shares of the business services provider’s stock worth $38,000 after buying an additional 606 shares during the period. Innealta Capital LLC acquired a new stake in shares of PRA Group in the second quarter valued at about $57,000. Finally, Quest Partners LLC raised its holdings in shares of PRA Group by 14.2% during the 2nd quarter. Quest Partners LLC now owns 10,179 shares of the business services provider’s stock valued at $200,000 after buying an additional 1,267 shares during the period. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com raised shares of PRA Group from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Truist Financial raised their price target on shares of PRA Group from $28.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, November 5th.

PRA Group Stock Performance

NASDAQ:PRAA opened at $21.46 on Tuesday. PRA Group, Inc. has a one year low of $18.64 and a one year high of $31.43. The business’s 50-day simple moving average is $21.61 and its 200 day simple moving average is $21.72. The stock has a market cap of $846.17 million, a price-to-earnings ratio of 19.51 and a beta of 1.49.

PRA Group (NASDAQ:PRAA) last released its earnings results on Monday, November 4th. The business services provider reported $0.69 EPS for the quarter, beating the consensus estimate of $0.32 by $0.37. PRA Group had a return on equity of 2.90% and a net margin of 4.16%. The company had revenue of $281.48 million during the quarter, compared to analysts’ expectations of $262.20 million. During the same period in the prior year, the business posted ($0.31) EPS. The business’s revenue was up 30.1% on a year-over-year basis. On average, equities research analysts predict that PRA Group, Inc. will post 1.57 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.