Encore Capital Group Inc (NASDAQ:ECPG - Get Free Report) Director Laura Olle sold 10,493 shares of the company's stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $112.93, for a total transaction of $1,184,974.49. Following the transaction, the director owned 26,675 shares of the company's stock, valued at approximately $3,012,407.75. This represents a 28.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Encore Capital Group Trading Down 2.2%
ECPG opened at $109.86 on Friday. The company has a debt-to-equity ratio of 3.93, a current ratio of 0.62 and a quick ratio of 0.62. Encore Capital Group Inc has a fifty-two week low of $47.49 and a fifty-two week high of $126.74. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 7.04 and a beta of 1.29. The company's 50 day moving average price is $100.98 and its two-hundred day moving average price is $85.31.
Encore Capital Group (NASDAQ:ECPG - Get Free Report) last released its quarterly earnings results on Wednesday, November 4th. The asset manager reported $5.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.35 by $2.22. Encore Capital Group had a net margin of 17.67% and a return on equity of 33.67%. The firm had revenue of $544.54 million during the quarter, compared to analyst estimates of $466.80 million. During the same quarter last year, the business earned $3.17 EPS. The company's revenue was up 18.3% compared to the same quarter last year. As a group, research analysts predict that Encore Capital Group Inc will post 16.11 earnings per share for the current year.
Institutional Investors Weigh In On Encore Capital Group
Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of Encore Capital Group during the second quarter valued at approximately $343,229,000. Heartland Advisors Inc. lifted its holdings in shares of Encore Capital Group by 1.2% in the 3rd quarter. Heartland Advisors Inc. now owns 367,300 shares of the asset manager's stock worth $34,688,000 after purchasing an additional 4,475 shares in the last quarter. Amundi lifted its holdings in shares of Encore Capital Group by 3,134.1% in the 2nd quarter. Amundi now owns 304,202 shares of the asset manager's stock worth $28,379,000 after purchasing an additional 294,796 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in Encore Capital Group by 658.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 334,018 shares of the asset manager's stock valued at $23,421,000 after purchasing an additional 289,964 shares during the period. Finally, First Trust Advisors LP increased its stake in Encore Capital Group by 8.2% during the 3rd quarter. First Trust Advisors LP now owns 174,568 shares of the asset manager's stock valued at $16,486,000 after purchasing an additional 13,291 shares in the last quarter.
Analyst Ratings Changes
Several research analysts recently issued reports on ECPG shares. Northland Securities set a $124.00 target price on shares of Encore Capital Group in a research note on Tuesday, October 13th. Zacks Research raised shares of Encore Capital Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, November 6th. Wall Street Zen raised shares of Encore Capital Group from a "hold" rating to a "buy" rating in a research note on Saturday, November 7th. Citizens Jmp upped their price objective on shares of Encore Capital Group from $115.00 to $140.00 and gave the company a "market outperform" rating in a report on Thursday, November 5th. Finally, Truist Financial increased their price objective on shares of Encore Capital Group from $112.00 to $122.00 and gave the stock a "buy" rating in a research report on Thursday, November 5th. One investment analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $128.67.
View Our Latest Stock Analysis on Encore Capital Group
Encore Capital Group Company Profile
(
Get Free Report)
Encore Capital Group (NASDAQ: ECPG) is a specialty finance company that purchases portfolios of charged-off consumer debt and works to recover amounts owed. Its activities include managing repayment arrangements and providing customer support through its own operations and service providers. The company operates through businesses including Midland Credit Management in the United States and Cabot Credit Management in the United Kingdom and other European markets. Its operations also include customer-service and support functions in India.
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