Hedge Funds Are Betting On Portfolio PRA Group, Inc. (PRAA)

As aggregate interest increased, some big names have been driving this bullishness. D E Shaw created the largest position in PRA Group, Inc. (NASDAQ:PRAA). D E Shaw had $0.9 million invested in the company at the end of the quarter. Ken Griffin’s Citadel Investment Group also made a $0.7 million investment in the stock during the quarter. The only other fund with a new position in the stock is Sharif Siddiqui’s Alpenglow Capital.

Let’s check out hedge fund activity in other stocks – not necessarily in the same industry as PRA Group, Inc. (NASDAQ:PRAA) but similarly valued. We will take a look at Eaton Vance Ltd Duration Income Fund (NYSEMKT:EVV), Amedisys Inc (NASDAQ:AMED), FBL Financial Group (NYSE:FFG), and MRC Global Inc (NYSE:MRC). This group of stocks’ market valuations match PRAA’s market valuation.

As you can see these stocks had an average of 11 hedge funds with bullish positions and the average amount invested in these stocks was $81 million. That figure was $115 million in PRAA’s case. MRC Global Inc (NYSE:MRC) is the most popular stock in this table. On the other hand Eaton Vance Ltd Duration Income Fund (NYSEMKT:EVV) is the least popular one with only 3 bullish hedge fund positions. PRA Group, Inc. (NASDAQ:PRAA) is not the least popular stock in this group but hedge fund interest is still below average. This is a slightly negative signal and we’d rather spend our time researching stocks that hedge funds are piling on. In this regard MRC might be a better candidate to consider taking a long position in.

Disclosure: None