Systematic Financial Management LP Makes New Investment in PRA Group, Inc. (NASDAQ:PRAA)

Systematic Financial Management LP acquired a new position in PRA Group, Inc. (NASDAQ:PRAA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 25,467 shares of the business services provider’s stock, valued at approximately $569,000. Systematic Financial Management LP owned approximately 0.06% of PRA Group as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Point72 Asia Singapore Pte. Ltd. purchased a new position in PRA Group in the second quarter valued at about $29,000. Quarry LP boosted its position 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 buying an additional 972 shares during the period. nVerses Capital LLC grew its stake in shares of PRA Group by 700.0% in the second quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock valued at $31,000 after buying an additional 1,400 shares in the last quarter. FMR LLC raised its holdings in shares of PRA Group by 55.0% during the 3rd quarter. FMR LLC now owns 1,707 shares of the business services provider’s stock valued at $38,000 after buying an additional 606 shares during the period. Finally, Point72 DIFC Ltd lifted its position 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 worth $48,000 after acquiring an additional 1,710 shares in the last quarter. Hedge funds and other institutional investors own 97.22% of the company’s stock.

PRA Group Stock Performance

NASDAQ:PRAA opened at $20.26 on Friday. The stock has a market cap of $798.85 million, a price-to-earnings ratio of 18.42 and a beta of 1.49. PRA Group, Inc. has a one year low of $18.64 and a one year high of $31.43. The business’s 50-day simple moving average is $21.43 and its 200 day simple moving average is $21.63.

PRA Group (NASDAQ:PRAA) last announced its earnings results on Monday, November 4th. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.37. PRA Group had a return on equity of 2.90% and a net margin of 4.16%. The company had revenue of $281.48 million for the quarter, compared to analyst estimates of $262.20 million. During the same period in the prior year, the company posted ($0.31) EPS. PRA Group’s quarterly revenue was up 30.1% on a year-over-year basis. On average, equities research analysts predict that PRA Group, Inc. will post 1.57 EPS for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on PRAA shares. 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 raised their price target on shares of PRA Group from $28.00 to $31.00 and gave the company a “buy” rating in a report on Tuesday, November 5th.

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 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.