Invenomic Capital Management LP Cuts Stake in PRA Group, Inc. (NASDAQ:PRAA)

Invenomic Capital Management LP lowered its position in shares of PRA Group, Inc. (NASDAQ:PRAAFree Report) by 13.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 220,228 shares of the business services provider’s stock after selling 35,168 shares during the quarter. Invenomic Capital Management LP owned 0.56% of PRA Group worth $5,770,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. CWM LLC increased its holdings in shares of PRA Group by 90.5% in the 4th quarter. CWM LLC now owns 1,189 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 565 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of PRA Group by 1,032.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,512 shares of the business services provider’s stock valued at $67,000 after purchasing an additional 3,202 shares in the last quarter. Jump Financial LLC purchased a new position in shares of PRA Group in the 3rd quarter valued at about $217,000. Graham Capital Management L.P. purchased a new position in shares of PRA Group in the 3rd quarter valued at about $303,000. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of PRA Group by 213.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 21,294 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 14,505 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

Insider Buying and Selling

In related news, CEO Vikram A. Atal sold 5,830 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The shares were sold at an average price of $24.39, for a total value of $142,193.70. Following the sale, the chief executive officer now directly owns 155,625 shares of the company’s stock, valued at $3,795,693.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.00% of the company’s stock.

PRA Group Stock Down 2.2 %

PRA Group stock opened at $19.84 on Tuesday. PRA Group, Inc. has a 12-month low of $11.85 and a 12-month high of $31.43. The firm’s 50-day moving average is $23.85 and its two-hundred day moving average is $23.80.

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the stock. StockNews.com raised shares of PRA Group from a “hold” rating to a “buy” rating in a research note on Friday, May 24th. JMP Securities reissued a “market outperform” rating and issued a $33.00 price objective on shares of PRA Group in a research note on Tuesday, May 7th.

View Our Latest Stock Analysis on PRAA

PRA Group Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PRA Group (NASDAQ:PRAA)

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