Trading Report: The Tower Research Capital LLC TRC Raises its position in PRA Group Inc. (PRAA) as a favorable investment target.

The Tower Research Capital LLC TRC Raises its position in PRA Group Inc. (PRAA) as a favorable investment target.

Tower Research Capital LLC TRC boosted its position in shares of PRA Group Inc. (NASDAQ:PRAA) by 401.9% during the second quarter, Holdings Channel reports. The institutional investor owned 6,244 shares of the company’s stock after buying an additional 5,000 shares during the period. Tower Research Capital LLC TRC’s holdings in PRA Group were worth $151,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the stock. PineBridge Investments L.P. boosted its position in shares of PRA Group by 3.7% in the second quarter. PineBridge Investments L.P. now owns 5,876 shares of the company’s stock worth $141,000 after buying an additional 211 shares in the last quarter. Teacher Retirement System of Texas boosted its position in shares of PRA Group by 11.7% in the second quarter. Teacher Retirement System of Texas now owns 6,575 shares of the company’s stock worth $159,000 after buying an additional 688 shares in the last quarter. IMS Capital Management boosted its position in shares of PRA Group by 4.3% in the second quarter. IMS Capital Management now owns 8,524 shares of the company’s stock worth $206,000 after buying an additional 350 shares in the last quarter. Wedbush Securities Inc. boosted its position in shares of PRA Group by 10.6% in the second quarter. Wedbush Securities Inc. now owns 9,699 shares of the company’s stock worth $234,000 after buying an additional 926 shares in the last quarter. Finally, Bank of Montreal Can purchased a new position in shares of PRA Group during the second quarter worth $256,000.

PRA Group Inc. (NASDAQ:PRAA) opened at 34.20 on Friday. The stock has a market capitalization of $1.58 billion, a PE ratio of 12.73 and a beta of 1.33. The stock’s 50 day moving average price is $32.51 and its 200 day moving average price is $28.94. PRA Group Inc. has a 1-year low of $20.00 and a 1-year high of $56.00.

PRA Group (NASDAQ:PRAA) last released its quarterly earnings data on Monday, August 8th. The company reported $0.83 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.83. The firm earned $228.50 million during the quarter, compared to analyst estimates of $227.92 million. PRA Group had a return on equity of 19.50% and a net margin of 13.89%. The business’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.06 earnings per share. On average, equities research analysts predict that PRA Group Inc. will post $2.95 earnings per share for the current fiscal year.

A number of equities analysts have commented on the company. Zacks Investment Research raised PRA Group from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. William Blair reaffirmed an “outperform” rating on shares of PRA Group in a research note on Tuesday, September 20th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $32.25.

In related news, insider Michael J. Petit sold 15,000 shares of the stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $34.21, for a total transaction of $513,150.00. Following the completion of the transaction, the insider now directly owns 106,857 shares of the company’s stock, valued at $3,655,577.97. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael J. Petit sold 3,000 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $28.11, for a total value of $84,330.00. Following the transaction, the insider now directly owns 125,157 shares of the company’s stock, valued at $3,518,163.27. The disclosure for this sale can be found here. Corporate insiders own 1.70% of the company’s stock.

PRA Group Company Profile

PRA Group, Inc (PRA Group), formerly Portfolio Recovery Associates, Inc, is a financial and business services company with operations in the Americas and Europe. The Company is engaged in the acquisition and collection of nonperforming loans in the Americas and Europe. Its business focuses upon the acquisition, collection, and processing of both unpaid and normal-course accounts receivable originally owed to credit grantors, government entities and others.

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