Encore Capital Group, Inc. (NASDAQ:ECPG) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC increased its position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 57.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 20,029 shares of the asset manager’s stock after acquiring an additional 7,287 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.08% of Encore Capital Group worth $687,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of ECPG. Nomura Asset Management Co. Ltd. raised its stake 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 worth $25,000 after purchasing an additional 290 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Encore Capital Group during the 4th quarter valued at approximately $28,000. Sterling Capital Management LLC lifted its holdings in Encore Capital Group by 827.2% in the fourth quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 670 shares during the last quarter. Huntington National Bank grew its position in Encore Capital Group by 152.5% in the fourth quarter. Huntington National Bank now owns 1,333 shares of the asset manager’s stock worth $64,000 after acquiring an additional 805 shares during the period. Finally, Quantbot Technologies LP purchased a new position in Encore Capital Group in the fourth quarter worth approximately $150,000.

Encore Capital Group Stock Up 2.3%

Encore Capital Group stock opened at $39.85 on Thursday. The company has a market capitalization of $930.46 million, a PE ratio of -5.08 and a beta of 1.61. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. Encore Capital Group, Inc. has a fifty-two week low of $26.45 and a fifty-two week high of $51.77. The firm has a 50 day moving average price of $35.49 and a 200 day moving average price of $41.58.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Wednesday, May 7th. The asset manager reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.69. The business had revenue of $392.78 million during the quarter, compared to analysts’ expectations of $374.49 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company’s revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 earnings per share. Research analysts expect that Encore Capital Group, Inc. will post 5.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have commented on ECPG. Truist Financial reduced their target price on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Wall Street Zen raised Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Encore Capital Group presently has an average rating of “Buy” and an average target price of $62.67.

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.