Encore Capital Group (NASDAQ:ECPG) Trading Up 6.4% on Earnings Beat

Encore Capital Group, Inc. (NASDAQ:ECPGGet Free Report) traded up 6.4% on Thursday after the company announced better than expected quarterly earnings. The stock traded as high as $47.86 and last traded at $46.00. 13,361 shares changed hands during trading, a decline of 92% from the average session volume of 165,224 shares. The stock had previously closed at $43.24.

The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.94 by $0.01. Encore Capital Group had a positive return on equity of 9.46% and a negative net margin of 16.89%. The firm had revenue of $328.39 million during the quarter, compared to the consensus estimate of $330.83 million. During the same period in the prior year, the company posted $0.94 earnings per share. The firm’s quarterly revenue was up 5.0% compared to the same quarter last year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ECPG. TheStreet cut Encore Capital Group from a “c-” rating to a “d+” rating in a report on Monday, March 18th. JMP Securities reiterated a “market outperform” rating and issued a $60.00 price target on shares of Encore Capital Group in a report on Monday, May 6th.

Check Out Our Latest Research Report on Encore Capital Group

Insiders Place Their Bets

In other news, insider Ryan B. Bell sold 5,500 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were 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 directly owns 42,404 shares of the company’s stock, valued at approximately $2,120,200. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Encore Capital Group

A number of institutional investors have recently bought and sold shares of the stock. Janney Capital Management LLC grew its stake in shares of Encore Capital Group by 3.0% during the 4th quarter. Janney Capital Management LLC now owns 7,808 shares of the asset manager’s stock valued at $396,000 after buying an additional 229 shares during the period. Assetmark Inc. increased its position in Encore Capital Group by 19.4% during the 4th quarter. Assetmark Inc. now owns 1,422 shares of the asset manager’s stock worth $72,000 after purchasing an additional 231 shares in the last quarter. Illinois Municipal Retirement Fund raised its holdings in Encore Capital Group by 2.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 13,683 shares of the asset manager’s stock valued at $694,000 after buying an additional 301 shares during the period. ProShare Advisors LLC lifted its position in Encore Capital Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,692 shares of the asset manager’s stock valued at $214,000 after buying an additional 323 shares in the last quarter. Finally, Rhumbline Advisers grew its stake in Encore Capital Group by 0.6% during the third quarter. Rhumbline Advisers now owns 75,412 shares of the asset manager’s stock worth $3,602,000 after buying an additional 469 shares during the period.

Encore Capital Group Trading Down 2.1 %

The business’s 50-day moving average is $44.66 and its two-hundred day moving average is $46.47. The stock has a market capitalization of $1.12 billion, a PE ratio of -5.37 and a beta of 1.38. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 3.54.

Encore Capital Group Company Profile

(Get Free Report)

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.

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