Connor Clark & Lunn Investment Management Ltd. Boosts Stake in PRA Group, Inc. (NASDAQ:PRAA)

Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of PRA Group, Inc. (NASDAQ:PRAA) by 117.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 34,087 shares of the business services provider’s stock after buying an additional 18,407 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in PRA Group were worth $762,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company grew its stake in shares of PRA Group by 5.0% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 14,929 shares of the business services provider’s stock valued at $294,000 after acquiring an additional 712 shares during the period. Sei Investments Co. boosted its position in shares of PRA Group by 0.9% in the second quarter. Sei Investments Co. now owns 95,473 shares of the business services provider’s stock worth $1,877,000 after purchasing an additional 826 shares during the period. Quest Partners LLC increased its stake in shares of PRA Group by 14.2% in the second quarter. Quest Partners LLC now owns 10,179 shares of the business services provider’s stock worth $200,000 after purchasing an additional 1,267 shares in the last quarter. nVerses Capital LLC raised its position in shares of PRA Group by 700.0% during the 2nd quarter. nVerses Capital LLC now owns 1,600 shares of the business services provider’s stock valued at $31,000 after purchasing an additional 1,400 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of PRA Group during the 2nd quarter valued at $29,000. 97.22% of the stock is currently owned by hedge funds and other institutional investors.

PRA Group Stock Performance

Shares of NASDAQ:PRAA opened at $21.47 on Friday. The firm has a market cap of $846.56 million, a price-to-earnings ratio of 19.52 and a beta of 1.50. The firm has a fifty day moving average price of $21.66 and a 200 day moving average price of $21.81. PRA Group, Inc. has a fifty-two week low of $17.80 and a fifty-two week high of $31.43.

PRA Group (NASDAQ:PRAA) last announced its quarterly earnings results on Monday, November 4th. The business services provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.32 by $0.37. The business had revenue of $281.48 million for the quarter, compared to analysts’ expectations of $262.20 million. PRA Group had a net margin of 4.16% and a return on equity of 2.90%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.31) EPS. As a group, research analysts predict that PRA Group, Inc. will post 1.57 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on PRAA. StockNews.com upgraded PRA Group from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Truist Financial increased their target price on PRA Group from $28.00 to $31.00 and gave the stock a “buy” rating in a research report 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.