PRA Group (NASDAQ:PRAA) reported a drop of 5.6% or 432,601 shares in its short interest. The short figure came in at 16.2% of the total floats. The average daily volume of 583,371 shares suggests that the days to cover 7,326,020 short positions, as on June 15,2016, will be 13. On May 31,2016, the short interest was 7,758,621 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
PRA Group (NASDAQ:PRAA): The stock opened at $24.96 on Friday but the bulls could not build on the opening and the stock topped out at $25.38 for the day. The stock traded down to $24.51 during the day, due to lack of any buying support eventually closed down at $25.24 with a loss of -2.40% for the day. The stock had closed at $25.86 on the previous day. The total traded volume was 2,301,846 shares.
The company shares have dropped -59.35% from its 1 Year high price. On Jul 14, 2015, the shares registered one year high at $64.82 and the one year low was seen on Feb 26, 2016. The 50-Day Moving Average price is $26.12 and the 200 Day Moving Average price is recorded at $29.60.
Stocks of PRA Group (NASDAQ:PRAA) rallied by 1.04% during the past week but lost 8.28% on a 4-week basis. The company has outperformed the S&P 500 by 2.72% in the past week but underperformed the index by 5.51% in the last 4 weeks.
PRA Group Inc. (PRA Group) formerly Portfolio Recovery Associates Inc. and its subsidiaries is a financial and business service company. The Companys primary business is the purchase collection and management of portfolios of defaulted consumer receivables. These are the unpaid obligations of individuals to credit originators which include banks credit unions consumer and auto finance companies and retail merchants. The Company also provides feebased services including vehicle location skip tracing and collateral recovery services for auto lenders Governments and law enforcement through PRA Location Services LLC (PLS) revenue administration audit and debt discovery or recovery services for local Government entities through PRA Government Services LLC and MuniServices LLC (PGS) and class action claims recovery services and related payment processing through Claims Compensation Bureau LLC (CCB).