Connor Clark & Lunn Investment Management Ltd. Grows Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Connor Clark & Lunn Investment Management Ltd. boosted its position in Encore Capital Group, Inc. (NASDAQ:ECPG) by 177.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 22,550 shares of the asset manager’s stock after purchasing an additional 14,409 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Encore Capital Group were worth $1,066,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of ECPG. CANADA LIFE ASSURANCE Co boosted its position in Encore Capital Group by 9.7% in the first quarter. CANADA LIFE ASSURANCE Co now owns 25,553 shares of the asset manager’s stock worth $1,163,000 after purchasing an additional 2,265 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Encore Capital Group by 5.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 16,949 shares of the asset manager’s stock worth $774,000 after purchasing an additional 823 shares during the last quarter. Comerica Bank boosted its position in Encore Capital Group by 22.1% in the first quarter. Comerica Bank now owns 13,181 shares of the asset manager’s stock worth $601,000 after purchasing an additional 2,389 shares during the last quarter. Ogborne Capital Management LLC purchased a new position in Encore Capital Group in the first quarter worth about $2,073,000. Finally, SG Americas Securities LLC purchased a new position in Encore Capital Group in the second quarter worth about $416,000.

Encore Capital Group Stock Up 0.7 %

Shares of ECPG opened at $49.38 on Thursday. The business’s 50 day moving average is $47.00 and its 200 day moving average is $46.20. The company has a market capitalization of $1.17 billion, a PE ratio of -6.28 and a beta of 1.56. Encore Capital Group, Inc. has a 12-month low of $39.64 and a 12-month high of $54.55. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39.

Encore Capital Group (NASDAQ:ECPG) last issued its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.22). The business had revenue of $367.07 million for the quarter, compared to the consensus estimate of $360.70 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period last year, the business posted $0.79 EPS. Research analysts expect that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Insider Activity at Encore Capital Group

In other Encore Capital Group news, Director Laura Olle sold 1,340 shares of Encore Capital Group stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total value of $65,874.40. Following the sale, the director now owns 32,381 shares of the company’s stock, valued at $1,591,849.96. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.63% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ECPG has been the topic of several recent research reports. JMP Securities raised their price objective on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $55.00 to $58.00 in a research note on Thursday, October 17th. StockNews.com downgraded Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. Finally, Truist Financial decreased their price objective on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. One investment 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’s stock. According to data from MarketBeat.com, Encore Capital Group has an average rating of “Buy” and a consensus target price of $62.33.

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.