PRA Group (NASDAQ:PRAA) Reaches New 12-Month Low – Here’s What Happened

Shares of PRA Group, Inc. (NASDAQ:PRAA) hit a new 52-week low during trading on Wednesday . The stock traded as low as $18.40 and last traded at $18.21, with a volume of 52172 shares traded. The stock had previously closed at $18.98.

PRA Group Price Performance

The firm’s 50-day moving average price is $21.45 and its 200-day moving average price is $21.50. The company has a market cap of $774.40 million, a price-to-earnings ratio of 10.95 and a beta of 1.64.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings data on Wednesday, February 19th. The business services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. PRA Group had a net margin of 6.33% and a return on equity of 5.16%. The company had revenue of $293.23 million during the quarter, compared to analyst estimates of $275.81 million. On average, sell-side analysts anticipate that PRA Group, Inc. will post 2.1 earnings per share for the current year.

Institutional Investors Weigh In On PRA Group

Large investors have recently made changes to their positions in the business. Wolverine Asset Management LLC purchased a new position in shares of PRA Group in the third quarter valued at $419,000. Global Alpha Capital Management Ltd. boosted its stake in shares of PRA Group by 2.9% in the third quarter. Global Alpha Capital Management Ltd. now owns 1,817,800 shares of the business services provider’s stock valued at $40,646,000 after purchasing an additional 51,085 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of PRA Group by 117.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 34,087 shares of the business services provider’s stock valued at $762,000 after purchasing an additional 18,407 shares during the period. Intech Investment Management LLC boosted its stake in shares of PRA Group by 69.0% in the third quarter. Intech Investment Management LLC now owns 20,211 shares of the business services provider’s stock valued at $452,000 after purchasing an additional 8,250 shares during the period. Finally, FMR LLC boosted its stake 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 valued at $38,000 after purchasing an additional 606 shares during the period. Institutional investors and hedge funds own 97.22% of the company’s stock.

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.