Synovus Financial Corp boosted its position in Pra Group Inc (NASDAQ:PRAA) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 31,747 shares of the business services provider’s stock after acquiring an additional 401 shares during the quarter. Synovus Financial Corp owned 0.07% of Pra Group worth $1,069,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. Ladenburg Thalmann Financial Services Inc. increased its stake in Pra Group by 279.9% in the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 927 shares of the business services provider’s stock valued at $25,000 after purchasing an additional 683 shares during the last quarter. Marshall Wace North America L.P. increased its stake in Pra Group by 32.9% in the first quarter. Marshall Wace North America L.P. now owns 1,655 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 410 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Pra Group in the third quarter valued at approximately $200,000. Chicago Capital LLC purchased a new position in Pra Group in the third quarter valued at approximately $224,000. Finally, Wendell David Associates Inc. purchased a new position in Pra Group in the third quarter valued at approximately $231,000.
Shares of PRAA traded up $1.18 during mid-day trading on Friday, reaching $36.18. 6,495 shares of the company’s stock were exchanged, compared to its average volume of 184,945. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.20 and a quick ratio of 1.20. The stock has a market capitalization of $1.57 billion, a PE ratio of 24.80 and a beta of 1.56. The business’s fifty day simple moving average is $34.06 and its 200-day simple moving average is $31.11. Pra Group Inc has a 52-week low of $22.62 and a 52-week high of $35.60.
Pra Group (NASDAQ:PRAA) last announced its earnings results on Thursday, November 7th. The business services provider reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.09. The business had revenue of $250.01 million for the quarter, compared to analyst estimates of $256.18 million. Pra Group had a net margin of 6.11% and a return on equity of 5.16%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $0.22 earnings per share. Equities research analysts predict that Pra Group Inc will post 1.71 earnings per share for the current year.
PRAA has been the topic of several recent analyst reports. BidaskClub lowered shares of Pra Group from a “buy” rating to a “hold” rating in a research note on Friday, November 1st. ValuEngine lowered shares of Pra Group from a “buy” rating to a “hold” rating in a research note on Tuesday, October 1st. Finally, Buckingham Research increased their price target on shares of Pra Group from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Five research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $32.00.
In other news, EVP Christopher B. Graves sold 2,500 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $35.06, for a total transaction of $87,650.00. Following the transaction, the executive vice president now directly owns 74,180 shares in the company, valued at $2,600,750.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.68% of the company’s stock.
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 in the Americas and Europe. It is involved in the acquisition of accounts that are primarily the unpaid obligations of individuals owed to credit grantors, which include banks and other types of consumer, retail, and auto finance companies.
Further Reading: Strangles
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