Nexus Investment Management buys $9,391,442 stake in Pra Group Inc (PRAA)

Pra Group Inc (PRAA) : Nexus Investment Management scooped up 11,500 additional shares in Pra Group Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 6, 2016. The investment management firm now holds a total of 371,350 shares of Pra Group Inc which is valued at $9,391,442.Pra Group Inc makes up approximately 1.76% of Nexus Investment Management’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in PRAA in the latest quarter, The investment management firm added 7,427 additional shares and now holds a total of 14,861 shares of Pra Group Inc which is valued at $375,835.

Pra Group Inc opened for trading at $25.39 and hit $25.965 on the upside on Monday, eventually ending the session at $25.74, with a gain of 1.78% or 0.45 points. The heightened volatility saw the trading volume jump to 3,35,581 shares. Company has a market cap of $1,193 M.

On the company’s financial health, Pra Group Inc reported $0.85 EPS for the quarter, missing the analyst consensus estimate by $ -0.08 based on the information available during the earnings call on May 9, 2016. Analyst had a consensus of $0.93. The company had revenue of $224.88 million for the quarter, compared to analysts expectations of $236.03 million. The company’s revenue was down -8.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.19 EPS.

Many Wall Street Analysts have commented on Pra Group Inc. Pra Group Inc was Downgraded by Raymond James to ” Outperform” on May 10, 2016.

PRA Group Inc. (PRA Group) formerly Portfolio Recovery Associates Inc. and its subsidiaries is a financial and business service company. The Company’s 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).

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