Nexus Investment Management ULC Reduces Position in PRA Group, Inc. (NASDAQ:PRAA)

Nexus Investment Management ULC trimmed its position in shares of PRA Group, Inc. (NASDAQ:PRAA) by 8.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 132,333 shares of the business services provider’s stock after selling 11,617 shares during the quarter. Nexus Investment Management ULC’s holdings in PRA Group were worth $2,764,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PRAA. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PRA Group in the second quarter worth $29,000. Quarry LP grew its holdings in shares of PRA Group by 282.6% in the third quarter. Quarry LP now owns 1,316 shares of the business services provider’s stock worth $29,000 after purchasing an additional 972 shares during the last quarter. FMR LLC increased its stake in PRA Group by 55.0% in the 3rd 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. Point72 DIFC Ltd lifted its holdings in PRA Group by 388.6% during the 3rd quarter. Point72 DIFC Ltd now owns 2,150 shares of the business services provider’s stock valued at $48,000 after buying an additional 1,710 shares in the last quarter. Finally, nVerses Capital LLC boosted its position in PRA Group by 168.8% in the 3rd quarter. nVerses Capital LLC now owns 4,300 shares of the business services provider’s stock valued at $96,000 after buying an additional 2,700 shares during the period. 97.22% of the stock is owned by hedge funds and other institutional investors.

PRA Group Price Performance

PRAA stock opened at $21.31 on Friday. PRA Group, Inc. has a 1-year low of $18.64 and a 1-year high of $31.43. The business has a 50-day moving average price of $21.22 and a 200 day moving average price of $21.70. The company has a market capitalization of $840.25 million, a P/E ratio of 19.37 and a beta of 1.48.

PRA Group (NASDAQ:PRAA) last posted its quarterly 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 net margin of 4.16% and a return on equity of 2.90%. The business had revenue of $281.48 million during the quarter, compared to analyst estimates of $262.20 million. During the same quarter in the previous year, the business posted ($0.31) EPS. The company’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, analysts anticipate that PRA Group, Inc. will post 1.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PRAA has been the topic of a number of research reports. 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 increased their price objective on PRA Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th.

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.