Encore Capital Group, Inc. (NASDAQ:ECPG) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in Encore Capital Group, Inc. (NASDAQ:ECPG) by 26.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 49,008 shares of the asset manager’s stock after selling 17,381 shares during the period. Russell Investments Group Ltd. owned approximately 0.21% of Encore Capital Group worth $2,341,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ECPG. Wells Fargo & Company MN boosted its stake in Encore Capital Group by 23.9% during the fourth quarter. Wells Fargo & Company MN now owns 15,321 shares of the asset manager’s stock valued at $732,000 after buying an additional 2,953 shares in the last quarter. Huntington National Bank grew its stake in shares of Encore Capital Group by 152.5% in 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 during the last quarter. Franklin Resources Inc. acquired a new stake in Encore Capital Group during the fourth quarter valued at approximately $252,000. Meeder Asset Management Inc. bought a new stake in Encore Capital Group during the fourth quarter worth approximately $28,000. Finally, Clearbridge Investments LLC grew its position in Encore Capital Group by 0.5% in the fourth quarter. Clearbridge Investments LLC now owns 387,550 shares of the asset manager’s stock worth $18,513,000 after buying an additional 1,968 shares during the last quarter.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ECPG. Truist Financial decreased their target price on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. StockNews.com raised shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research note on Tuesday. Finally, Northland Securities lifted their target price on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. One equities 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $62.67.

Insider Activity at Encore Capital Group

In other Encore Capital Group news, CEO Ashish Masih purchased 20,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $35.14 per share, for a total transaction of $702,800.00. Following the acquisition, the chief executive officer now owns 322,254 shares of the company’s stock, valued at $11,324,005.56. This trade represents a 6.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ashwini Gupta acquired 40,000 shares of the firm’s stock in a transaction that occurred 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. This represents a 70.29 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.63% of the company’s stock.

Encore Capital Group Trading Up 3.0 %

NASDAQ:ECPG opened at $30.41 on Friday. The stock’s 50-day moving average is $36.83 and its two-hundred day moving average is $44.06. 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 has a market cap of $720.44 million, a PE ratio of -3.87 and a beta of 1.58. Encore Capital Group, Inc. has a fifty-two week low of $26.45 and a fifty-two week high of $51.77.

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

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.