Encore Capital Group, Inc. (NASDAQ:ECPG) CEO Ashish Masih Acquires 20,000 Shares of Stock

Encore Capital Group, Inc. (NASDAQ:ECPG) CEO Ashish Masih purchased 20,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $35.14 per share, for a total transaction of $702,800.00. Following the completion of the acquisition, the chief executive officer now owns 322,254 shares in the company, valued at $11,324,005.56. This represents a 6.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Encore Capital Group Trading Down 0.1 %

NASDAQ:ECPG opened at $34.46 on Thursday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The business’s 50-day moving average price is $47.87 and its two-hundred day moving average price is $47.78. The firm has a market capitalization of $816.39 million, a price-to-earnings ratio of -4.39 and a beta of 1.55. Encore Capital Group, Inc. has a 1-year low of $32.99 and a 1-year high of $51.77.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.05). The company had revenue of $265.62 million for the quarter, compared to analyst estimates of $373.40 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. On average, equities analysts expect that Encore Capital Group, Inc. will post 5.09 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on ECPG. JMP Securities lifted their price objective on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Northland Securities upped their price target on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Truist Financial lowered their target price on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, StockNews.com downgraded Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $62.67.

Hedge Funds Weigh In On Encore Capital Group

Hedge funds have recently made changes to their positions in the stock. Mackenzie Financial Corp acquired a new position in Encore Capital Group during the 4th quarter worth approximately $322,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Encore Capital Group by 31.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,793 shares of the asset manager’s stock valued at $3,477,000 after purchasing an additional 17,470 shares during the period. Voloridge Investment Management LLC purchased a new position in shares of Encore Capital Group in the fourth quarter worth about $1,713,000. Squarepoint Ops LLC lifted its holdings in Encore Capital Group by 64.5% during the 4th quarter. Squarepoint Ops LLC now owns 42,095 shares of the asset manager’s stock worth $2,011,000 after purchasing an additional 16,507 shares in the last quarter. Finally, Two Sigma Advisers LP boosted its stake in Encore Capital Group by 75.4% during the fourth quarter. Two Sigma Advisers LP now owns 87,000 shares of the asset manager’s stock valued at $4,156,000 after buying an additional 37,400 shares during the period.

Encore Capital Group Company Profile

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across financial assets worldwide. The company purchases portfolios of defaulted consumer receivables at deep discounts to face value, as well as manages them by working with individuals as they repay their obligations and works toward financial recovery.