Jacobs Levy Equity Management Inc. Sells 139,128 Shares of PRA Group, Inc. (NASDAQ:PRAA)

Jacobs Levy Equity Management Inc. cut its holdings in PRA Group, Inc. (NASDAQ:PRAA) by 32.7% in the first quarter, Holdings Channel.com reports. The fund owned 286,857 shares of the business services provider’s stock after selling 139,128 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in PRA Group were worth $7,481,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its position in PRA Group by 11.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 3,931 shares of the business services provider’s stock worth $103,000 after purchasing an additional 419 shares during the period. Texas Permanent School Fund Corp grew its stake in PRA Group by 1.5% in the 1st quarter. Texas Permanent School Fund Corp now owns 34,176 shares of the business services provider’s stock valued at $891,000 after buying an additional 504 shares during the last quarter. CWM LLC raised its holdings in PRA Group by 90.5% in the 4th quarter. CWM LLC now owns 1,189 shares of the business services provider’s stock worth $31,000 after acquiring an additional 565 shares during the period. Quadrature Capital Ltd lifted its position in PRA Group by 10.7% during the 1st quarter. Quadrature Capital Ltd now owns 19,167 shares of the business services provider’s stock worth $500,000 after acquiring an additional 1,846 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in PRA Group by 0.3% during the first quarter. William Blair Investment Management LLC now owns 1,061,093 shares of the business services provider’s stock valued at $27,673,000 after acquiring an additional 2,864 shares during the period. 97.22% of the stock is owned by institutional investors.

PRA Group Trading Up 2.7 %

PRAA stock traded up $0.69 during trading on Tuesday, reaching $25.83. 161,430 shares of the stock were exchanged, compared to its average volume of 198,296. The stock has a 50 day simple moving average of $21.17 and a 200-day simple moving average of $23.40. The company has a market capitalization of $1.02 billion, a P/E ratio of -47.83 and a beta of 1.48. PRA Group, Inc. has a twelve month low of $11.85 and a twelve month high of $31.43.

PRA Group (NASDAQ:PRAA) last issued its earnings results on Monday, May 6th. The business services provider reported $0.09 EPS for the quarter, topping the consensus estimate of ($0.15) by $0.24. The firm had revenue of $255.59 million during the quarter, compared to analysts’ expectations of $233.37 million. PRA Group had a negative return on equity of 1.76% and a negative net margin of 2.37%. PRA Group’s quarterly revenue was up 64.4% compared to the same quarter last year. During the same period last year, the business earned ($1.50) earnings per share. Equities analysts predict that PRA Group, Inc. will post 0.7 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on PRAA. JMP Securities restated a “market outperform” rating and set a $33.00 target price on shares of PRA Group in a research note on Tuesday, May 7th. StockNews.com cut PRA Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 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.