Meeder Asset Management Inc. Acquires New Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Meeder Asset Management Inc. bought a new position in Encore Capital Group, Inc. (NASDAQ:ECPG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 580 shares of the asset manager’s stock, valued at approximately $28,000.

A number of other institutional investors have also recently made changes to their positions in the company. Phase 2 Partners LLC lifted its position in Encore Capital Group by 219.9% in the 3rd quarter. Phase 2 Partners LLC now owns 241,509 shares of the asset manager’s stock valued at $11,416,000 after acquiring an additional 166,014 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Encore Capital Group by 16.0% during the third quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock valued at $35,752,000 after purchasing an additional 104,509 shares in the last quarter. Norges Bank purchased a new stake in shares of Encore Capital Group during the fourth quarter valued at $3,361,000. Barclays PLC increased its holdings in Encore Capital Group by 22.9% in the 3rd quarter. Barclays PLC now owns 197,903 shares of the asset manager’s stock worth $9,355,000 after buying an additional 36,822 shares in the last quarter. Finally, Jane Street Group LLC raised its position in Encore Capital Group by 191.7% in the 3rd quarter. Jane Street Group LLC now owns 49,719 shares of the asset manager’s stock worth $2,350,000 after buying an additional 32,672 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ECPG. Northland Securities raised their price target on shares of Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. StockNews.com downgraded shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Finally, Truist Financial decreased their target price on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Buy” and a consensus target price of $62.67.

Encore Capital Group Price Performance

Shares of NASDAQ:ECPG opened at $35.59 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The stock has a market capitalization of $843.16 million, a PE ratio of -4.53 and a beta of 1.73. The firm’s 50 day moving average price is $42.40 and its 200-day moving average price is $45.73. Encore Capital Group, Inc. has a twelve month low of $31.54 and a twelve month high of $51.77.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.05). The business had revenue of $265.62 million during the quarter, compared to the consensus estimate of $373.40 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. Equities research analysts expect that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Insider Buying and Selling at Encore Capital Group

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

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.