Encore Capital Group (NASDAQ:ECPG) Rating Increased to Hold at StockNews.com

StockNews.com upgraded shares of Encore Capital Group (NASDAQ:ECPG) from a sell rating to a hold rating in a report published on Tuesday.

A number of other equities research analysts also recently weighed in on ECPG. Truist Financial cut their price target on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Northland Securities increased their price target on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $62.67.

Encore Capital Group Trading Up 1.0 %

NASDAQ:ECPG opened at $29.92 on Tuesday. The stock has a market cap of $708.83 million, a PE ratio of -3.81 and a beta of 1.58. Encore Capital Group has a fifty-two week low of $26.45 and a fifty-two week high of $51.77. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. The stock’s 50-day moving average is $38.06 and its two-hundred day moving average is $44.38.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.05). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company had revenue of $265.62 million during the quarter, compared to analysts’ expectations of $373.40 million. As a group, equities research analysts forecast that Encore Capital Group will post 5.09 earnings per share for the current fiscal year.

Insider Activity at Encore Capital Group

In other news, CEO Ashish Masih purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was bought at an average cost of $35.14 per share, for a total transaction of $702,800.00. Following the completion of the acquisition, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ashwini Gupta acquired 40,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average price of $35.10 per share, for a total transaction of $1,404,000.00. Following the completion of the purchase, the director now directly owns 96,909 shares of the company’s stock, valued at $3,401,505.90. This trade represents a 70.29 % increase in their position. The disclosure for this purchase can be found here. 2.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Encore Capital Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nomura Asset Management Co. Ltd. raised its position in shares of Encore Capital Group by 120.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock valued at $25,000 after buying an additional 290 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Encore Capital Group in the 4th quarter valued at approximately $28,000. Sterling Capital Management LLC lifted its position in shares of Encore Capital Group by 827.2% in the 4th quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock worth $36,000 after acquiring an additional 670 shares during the period. Huntington National Bank grew its holdings in shares of Encore Capital Group by 152.5% during the 4th quarter. Huntington National Bank now owns 1,333 shares of the asset manager’s stock worth $64,000 after purchasing an additional 805 shares in the last quarter. Finally, R Squared Ltd bought a new stake in shares of Encore Capital Group during the fourth quarter valued at approximately $84,000.

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.