Debt-buying giant PRA Group Inc.'s stock fell Wednesday to a 52-week low. After opening at $27.60, PRA Group dropped to $26.75. By the closing bell, the company's stock was at $27.72 a share for a loss of 0.89%.
PRA Group saw 568,362 shares of its stock trade hands out of 48.21 million shares. The stock has an average daily volume of 776,628 shares. After hitting the 52-week low, PRA Group entered the trading day Thursday with a market cap of 1.34 billion.
The Norfolk, Va.-based company acquires non-performing consumer debt, returns capital to banks and other creditors to help expand financial services for consumers in North America and Europe. It has 3,715 employees and is led by CEO Steven D. Fredrickson.
PRA Group also is a component of the Russell 2000 Index, which is generally viewed as the most reliable indicator of the health of the broader small-cap market. Using a rules-based methodology, it creates a simple, unbiased view of how America's stable of smaller publicly traded companies are performing in the stock markets. The index consists of the 2,000 smallest companies of the 3,000 largest publicly-traded companies in the country as judged by market cap. It's constructed by Russell Investments, which also builds and maintains the Russell 3000 (an index consisting of all 3,000 biggest companies by market cap) and the large-cap Russell 1000 (which has the 1,000 largest companies from the Russell 3000).