Tower Research Capital LLC TRC Sells 1,764 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

Tower Research Capital LLC TRC decreased its position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 71.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 714 shares of the asset manager’s stock after selling 1,764 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Encore Capital Group were worth $34,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ECPG. Nomura Asset Management Co. Ltd. raised its holdings in 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 acquiring an additional 290 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Encore Capital Group during the fourth quarter worth about $28,000. Sterling Capital Management LLC raised its stake in Encore Capital Group by 827.2% during the 4th quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 670 shares during the period. Huntington National Bank lifted its holdings in 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 in the last quarter. Finally, R Squared Ltd purchased a new position in Encore Capital Group in the 4th quarter worth approximately $84,000.

Insider Buying and Selling

In related news, CEO Ashish Masih bought 20,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The stock was purchased 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 in the company, valued at $11,324,005.56. This trade represents a 6.62% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Ashwini Gupta bought 40,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $35.10 per share, for a total transaction of $1,404,000.00. Following the transaction, the director now owns 96,909 shares in the company, valued at approximately $3,401,505.90. The trade was a 70.29% increase in their position. The disclosure for this purchase can be found here. 2.54% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ECPG shares. StockNews.com raised shares of Encore Capital Group from a “sell” rating to a “hold” rating in a report on Tuesday. Truist Financial cut their price objective on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $62.67.

Encore Capital Group Stock Up 1.5%

NASDAQ ECPG opened at $40.91 on Thursday. The stock has a 50 day moving average price of $33.66 and a 200-day moving average price of $42.86. Encore Capital Group, Inc. has a one year low of $26.45 and a one year high of $51.77. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. The company has a market capitalization of $955.21 million, a P/E ratio of -5.21 and a beta of 1.65.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, May 7th. The asset manager reported $1.93 EPS for the quarter, beating the consensus estimate of $1.24 by $0.69. 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 $392.78 million during the quarter, compared to analyst estimates of $374.49 million. During the same quarter last year, the business earned $0.95 earnings per share. Encore Capital Group’s quarterly revenue was up 19.6% compared to the same quarter last year. As a group, equities analysts predict that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

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.