American Century Companies Inc. Sells 88,795 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

American Century Companies Inc. decreased its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 49.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,390 shares of the asset manager’s stock after selling 88,795 shares during the period. American Century Companies Inc. owned 0.39% of Encore Capital Group worth $4,413,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ECPG. Norges Bank bought a new position in Encore Capital Group during the 4th quarter valued at approximately $10,468,000. Invesco Ltd. raised its position in shares of Encore Capital Group by 84.9% in the 1st quarter. Invesco Ltd. now owns 385,572 shares of the asset manager’s stock worth $24,187,000 after acquiring an additional 177,084 shares in the last quarter. Stephens Investment Management Group LLC raised its position in shares of Encore Capital Group by 37.3% in the 2nd quarter. Stephens Investment Management Group LLC now owns 316,172 shares of the asset manager’s stock worth $15,372,000 after acquiring an additional 85,893 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Encore Capital Group by 69.1% in the 1st quarter. Renaissance Technologies LLC now owns 155,905 shares of the asset manager’s stock worth $7,865,000 after acquiring an additional 63,700 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Encore Capital Group by 13.5% in the 4th quarter. Bank of America Corp DE now owns 415,753 shares of the asset manager’s stock worth $19,931,000 after acquiring an additional 49,544 shares in the last quarter.

Insider Activity at Encore Capital Group

In related news, insider Ryan B. Bell sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $50.00, for a total transaction of $275,000.00. Following the completion of the transaction, the insider now owns 42,404 shares of the company’s stock, valued at approximately $2,120,200. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.90% of the stock is owned by corporate insiders.

Encore Capital Group Stock Up 2.4 %

Shares of NASDAQ:ECPG opened at $46.06 on Thursday. Encore Capital Group, Inc. has a 52-week low of $34.74 and a 52-week high of $54.73. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a market capitalization of $1.08 billion, a P/E ratio of -5.25 and a beta of 1.36. The stock has a 50 day moving average price of $49.33 and a 200-day moving average price of $47.32.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data on Wednesday, February 21st. The asset manager reported $1.25 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.03. Encore Capital Group had a positive return on equity of 9.46% and a negative net margin of 16.89%. The company had revenue of $277.39 million during the quarter, compared to analyst estimates of $330.77 million. As a group, equities research analysts anticipate that Encore Capital Group, Inc. will post 5.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, TheStreet lowered Encore Capital Group from a “c-” rating to a “d+” rating in a research report on Monday, March 18th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Encore Capital Group has a consensus rating of “Moderate Buy” and an average price target of $64.50.

Encore Capital Group 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.