Encore Capital Group (NASDAQ:ECPG) Sets New 52-Week Low – Here’s Why

Encore Capital Group, Inc. (NASDAQ:ECPG) hit a new 52-week low on Thursday . The stock traded as low as $26.45 and last traded at $31.68, with a volume of 547084 shares. The stock had previously closed at $27.13.

Analyst Upgrades and Downgrades

ECPG has been the topic of several recent research reports. StockNews.com cut shares of Encore Capital Group from a “hold” rating to a “sell” rating in a research note on Friday, April 4th. Truist Financial cut their price target on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Northland Securities lifted their price objective on Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Encore Capital Group currently has a consensus rating of “Moderate Buy” and a consensus target price of $62.67.

Encore Capital Group Trading Down 0.3 %

The company has a market cap of $694.62 million, a price-to-earnings ratio of -3.74 and a beta of 1.58. The business has a fifty day simple moving average of $38.88 and a 200 day simple moving average of $44.63. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, February 26th. The asset manager reported $1.50 EPS 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. On average, equities analysts anticipate that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

Insider Activity at Encore Capital Group

In other Encore Capital Group news, Director Ashwini Gupta acquired 40,000 shares of the stock in a transaction that occurred on 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 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 ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ashish Masih bought 20,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The shares were acquired 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 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 company insiders.

Institutional Investors Weigh In On Encore Capital Group

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. increased its position in Encore Capital Group by 120.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock worth $25,000 after buying an additional 290 shares in the last quarter. Verition Fund Management LLC increased its position in Encore Capital Group by 4.3% during the 3rd quarter. Verition Fund Management LLC now owns 8,828 shares of the asset manager’s stock worth $417,000 after purchasing an additional 364 shares in the last quarter. Sheets Smith Wealth Management increased its position in Encore Capital Group by 3.0% during the 4th quarter. Sheets Smith Wealth Management now owns 14,278 shares of the asset manager’s stock worth $682,000 after purchasing an additional 416 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Encore Capital Group by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,317 shares of the asset manager’s stock valued at $636,000 after purchasing an additional 460 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Encore Capital Group in the 4th quarter valued at about $28,000.

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.