Encore Capital Group (NASDAQ:ECPG) Upgraded at StockNews.com

StockNews.com upgraded shares of Encore Capital Group (NASDAQ:ECPG) from a sell rating to a hold rating in a report published on Tuesday morning.

Other analysts have also recently issued research reports about the stock. Northland Securities raised 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 note on Monday, December 23rd. 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 research report on Thursday, February 27th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Encore Capital Group presently has an average rating of “Buy” and a consensus price target of $62.67.

Encore Capital Group Stock Up 3.0 %

Shares of ECPG stock opened at $30.41 on Tuesday. Encore Capital Group has a 52-week low of $26.45 and a 52-week high of $51.77. The stock has a market cap of $720.44 million, a price-to-earnings ratio of -3.87 and a beta of 1.58. The firm’s 50-day moving average is $37.24 and its 200-day moving average is $44.17. 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 (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.55 by ($0.05). The business 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%. Sell-side analysts predict that Encore Capital Group will post 5.09 EPS for the current year.

Insider Buying and Selling at Encore Capital Group

In related news, Director Ashwini Gupta purchased 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $35.10 per share, for a total transaction of $1,404,000.00. Following the completion of the purchase, the director now owns 96,909 shares in the company, valued at approximately $3,401,505.90. This represents a 70.29 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ashish Masih purchased 20,000 shares of Encore Capital Group stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $35.14 per share, for a total transaction of $702,800.00. Following the transaction, the chief executive officer now directly owns 322,254 shares of the company’s stock, valued at $11,324,005.56. This represents a 6.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.63% of the company’s stock.

Institutional Investors Weigh In On Encore Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of ECPG. Nomura Asset Management Co. Ltd. raised its position in shares of Encore Capital Group by 120.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock valued at $25,000 after buying an additional 290 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in Encore Capital Group during the fourth quarter valued at approximately $28,000. Sterling Capital Management LLC lifted its stake in Encore Capital Group by 827.2% during the fourth quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock worth $36,000 after purchasing an additional 670 shares during the last quarter. Huntington National Bank boosted its holdings 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 valued at $64,000 after purchasing an additional 805 shares in the last quarter. Finally, R Squared Ltd bought a new position in shares of Encore Capital Group in the 4th quarter valued at $84,000.

Encore Capital Group Company 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.