Encore Capital Group (NASDAQ:ECPG) Rating Increased to Hold at StockNews.com

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

Separately, 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 report on Thursday, February 27th. One 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 company has a consensus rating of “Buy” and a consensus price target of $62.67.

Encore Capital Group Price Performance

Encore Capital Group stock opened at $40.32 on Tuesday. The stock’s fifty day moving average price is $33.56 and its two-hundred day moving average price is $42.87. Encore Capital Group 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 current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $941.43 million, a PE ratio of -5.14 and a beta of 1.65.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data on Wednesday, May 7th. The asset manager reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.69. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The firm had revenue of $392.78 million for the quarter, compared to analyst estimates of $374.49 million. During the same quarter last year, the company earned $0.95 EPS. The company’s revenue was up 19.6% on a year-over-year basis. As a group, research analysts expect that Encore Capital Group will post 5.09 EPS for the current fiscal year.

Insider Buying and Selling at Encore Capital Group

In other Encore Capital Group news, Director Ashwini Gupta bought 40,000 shares of Encore Capital Group stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $35.10 per share, with a total value of $1,404,000.00. Following the acquisition, the director now owns 96,909 shares in the company, valued at $3,401,505.90. This trade represents a 70.29% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ashish Masih bought 20,000 shares of Encore Capital Group stock in a transaction on Wednesday, March 5th. The stock was acquired at an average cost 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 approximately $11,324,005.56. This represents a 6.62% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.54% of the company’s stock.

Institutional Investors Weigh In On Encore Capital Group

Several hedge funds have recently modified their holdings of ECPG. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Encore Capital Group by 120.8% during the 4th 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 in the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Encore Capital Group during the 4th quarter valued at $28,000. Sterling Capital Management LLC boosted its holdings in shares of 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 acquiring an additional 670 shares in the last quarter. Huntington National Bank boosted its holdings in shares of Encore Capital Group by 152.5% during the 4th quarter. Huntington National Bank now owns 1,333 shares of the asset manager’s stock valued at $64,000 after acquiring an additional 805 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Encore Capital Group during the 4th quarter valued at $84,000.

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.