Encore Capital Group (NASDAQ:ECPG) Sets New 1-Year Low – What’s Next?

Shares of Encore Capital Group, Inc. (NASDAQ:ECPG) hit a new 52-week low on Wednesday . The company traded as low as $32.50 and last traded at $32.47, with a volume of 42795 shares changing hands. The stock had previously closed at $33.55.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com downgraded Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. Northland Securities upped 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. Finally, Truist Financial dropped their price objective 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 research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Encore Capital Group currently has a consensus rating of “Buy” and an average target price of $62.67.

Encore Capital Group Trading Down 2.4 %

The business’s 50-day moving average price is $46.57 and its two-hundred day moving average price is $47.25. The firm has a market cap of $775.64 million, a price-to-earnings ratio of -4.18 and a beta of 1.73. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11.

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

Insider Activity at Encore Capital Group

In other Encore Capital Group news, Director Ashwini Gupta bought 40,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $35.10 per share, with a total value of $1,404,000.00. Following the purchase, the director now owns 96,909 shares in the company, valued at approximately $3,401,505.90. The trade was a 70.29 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashish Masih purchased 20,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $35.14 per share, with a total value of $702,800.00. Following the completion of the acquisition, the chief executive officer now 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 owned by insiders.

Hedge Funds Weigh In On Encore Capital Group

Several hedge funds and other institutional investors have recently bought and sold shares of ECPG. T. Rowe Price Investment Management Inc. raised its stake in shares of Encore Capital Group by 30.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,416,499 shares of the asset manager’s stock valued at $67,667,000 after purchasing an additional 327,637 shares during the period. Portolan Capital Management LLC acquired a new stake in Encore Capital Group during the 4th quarter valued at $10,291,000. Phase 2 Partners LLC increased its stake in Encore Capital Group by 219.9% during the 3rd quarter. Phase 2 Partners LLC now owns 241,509 shares of the asset manager’s stock worth $11,416,000 after buying an additional 166,014 shares during the period. Marshall Wace LLP lifted its holdings in Encore Capital Group by 73.1% in the 4th quarter. Marshall Wace LLP now owns 318,096 shares of the asset manager’s stock worth $15,195,000 after buying an additional 134,309 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Encore Capital Group by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock worth $35,752,000 after buying an additional 104,509 shares in the last quarter.

Encore Capital Group Company Profile

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.