Clearbridge Investments LLC Boosts Stock Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Clearbridge Investments LLC grew its stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 387,550 shares of the asset manager’s stock after buying an additional 1,968 shares during the quarter. Clearbridge Investments LLC owned 1.64% of Encore Capital Group worth $18,513,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. boosted its position in Encore Capital Group by 120.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 290 shares in the last quarter. R Squared Ltd purchased a new stake in Encore Capital Group during the 4th quarter valued at $84,000. Quantbot Technologies LP bought a new position in Encore Capital Group during the 4th quarter valued at about $150,000. Systematic Financial Management LP purchased a new stake in Encore Capital Group in the third quarter worth approximately $156,000. Finally, Inceptionr LLC bought a new stake in Encore Capital Group in the 4th quarter worth approximately $202,000.

Encore Capital Group Stock Performance

Shares of Encore Capital Group stock opened at $35.59 on Thursday. Encore Capital Group, Inc. has a 12 month low of $31.54 and a 12 month high of $51.77. 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 firm has a market cap of $843.16 million, a P/E ratio of -4.53 and a beta of 1.73. The stock’s fifty day moving average price is $42.40 and its 200-day moving average price is $45.73.

Encore Capital Group (NASDAQ:ECPG) last announced its earnings results 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). Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The business had revenue of $265.62 million for the quarter, compared to analyst estimates of $373.40 million. On average, equities research analysts expect that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Insider Activity at Encore Capital Group

In other news, Director Ashwini Gupta bought 40,000 shares of Encore Capital Group stock in a transaction on Wednesday, March 5th. The stock was acquired at an average price of $35.10 per share, with a total value of $1,404,000.00. Following the completion of the acquisition, the director now directly owns 96,909 shares of the company’s stock, valued at $3,401,505.90. The trade was a 70.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashish Masih bought 20,000 shares of Encore Capital Group stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $35.14 per share, with a total value of $702,800.00. Following the completion of the transaction, the chief executive officer now directly owns 322,254 shares of the company’s stock, valued at approximately $11,324,005.56. The trade was a 6.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.63% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on ECPG shares. Truist Financial reduced their target price on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Northland Securities upped their price objective 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. Finally, StockNews.com lowered Encore Capital Group from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One investment 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’s stock. Based on data from MarketBeat.com, Encore Capital Group presently has a consensus rating of “Buy” and a consensus price target of $62.67.

About Encore Capital Group

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.