Encore Capital Group (NASDAQ:ECPG) Reaches New 52-Week High – Here’s What Happened

Encore Capital Group Inc (NASDAQ:ECPG) hit a new 52-week high during trading on Monday . The stock traded as high as $81.77 and last traded at $82.1380, with a volume of 348962 shares traded. The stock had previously closed at $80.75.

Analysts Set New Price Targets

A number of research firms recently commented on ECPG. Citigroup reissued an “outperform” rating on shares of Encore Capital Group in a report on Tuesday, January 20th. Truist Financial lifted their price target on shares of Encore Capital Group from $59.00 to $80.00 and gave the company a “buy” rating in a research report on Thursday, February 26th. Citizens Jmp upped their price target on Encore Capital Group from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Thursday, February 26th. Northland Securities set a $70.00 price objective on Encore Capital Group in a research note on Thursday, January 22nd. Finally, Wall Street Zen raised Encore Capital Group from a “buy” rating to a “strong-buy” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $75.50.

Encore Capital Group Stock Performance

The stock’s 50-day moving average is $67.86 and its 200-day moving average is $56.69. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 7.45 and a beta of 1.26. The company has a debt-to-equity ratio of 4.10, a current ratio of 0.68 and a quick ratio of 0.68.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Wednesday, February 25th. The asset manager reported $3.37 earnings per share for the quarter, beating the consensus estimate of $2.20 by $1.17. Encore Capital Group had a return on equity of 28.19% and a net margin of 14.52%.The company had revenue of $473.55 million during the quarter, compared to the consensus estimate of $423.14 million. During the same period in the previous year, the firm posted ($9.42) EPS. Encore Capital Group’s revenue was up 78.3% on a year-over-year basis. Analysts anticipate that Encore Capital Group Inc will post 5.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Ryan B. Bell sold 7,240 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.04, for a total value of $499,849.60. Following the completion of the transaction, the insider directly owned 48,170 shares in the company, valued at approximately $3,325,656.80. This represents a 13.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 2.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. IFP Advisors Inc lifted its holdings in shares of Encore Capital Group by 1,729.6% during the 4th quarter. IFP Advisors Inc now owns 494 shares of the asset manager’s stock worth $27,000 after acquiring an additional 467 shares during the period. EverSource Wealth Advisors LLC grew its holdings in Encore Capital Group by 185.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 717 shares of the asset manager’s stock valued at $39,000 after purchasing an additional 466 shares during the period. Allworth Financial LP increased its position in Encore Capital Group by 29.1% during the fourth quarter. Allworth Financial LP now owns 1,139 shares of the asset manager’s stock worth $62,000 after purchasing an additional 257 shares during the last quarter. LSV Asset Management acquired a new position in Encore Capital Group during the third quarter worth approximately $88,000. Finally, Tower Research Capital LLC TRC raised its stake in Encore Capital Group by 168.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,716 shares of the asset manager’s stock worth $105,000 after purchasing an additional 1,706 shares during the period.

About Encore Capital Group

Encore Capital Group, Inc is a global specialty finance company that focuses on the purchase and management of nonperforming consumer receivables. Through its subsidiaries, the company acquires charged-off debt portfolios from credit card issuers, banks, and other financial institutions, and seeks to recover outstanding balances through a combination of customer outreach, payment arrangements, and, where appropriate, legal collection efforts. Encore’s business model emphasizes compliance with regulatory and industry standards to ensure ethical and transparent debt-recovery practices.

Headquartered in San Diego, California, Encore operates across North America and Europe.