Encore Capital Group Inc. (NASDAQ:ECPG) shares shot up 4.3% on Wednesday . The company traded as high as $24.90 and last traded at $24.90, with a volume of 307,314 shares changing hands. The stock had previously closed at $23.88.

A number of brokerages have recently weighed in on ECPG. Zacks Investment Research upgraded Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Wednesday. JMP Securities restated a “buy” rating on shares of Encore Capital Group in a research report on Wednesday, June 8th. Finally, William Blair reiterated an “outperform” rating on shares of Encore Capital Group in a research report on Friday, May 6th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Encore Capital Group has a consensus rating of “Buy” and a consensus target price of $42.33.

Encore Capital Group (NASDAQ:ECPG) last announced its earnings results on Tuesday, May 10th. The company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.27 by $0.04. The company had revenue of $289 million for the quarter, compared to analysts’ expectations of $303.78 million. During the same period in the prior year, the company earned $1.23 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis.

Other hedge funds and institutional investors have bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its position in Encore Capital Group by 4.0% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 43,704 shares of the company’s stock valued at $1,271,000 after buying an additional 1,686 shares during the last quarter. California State Teachers Retirement System raised its position in Encore Capital Group by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 48,235 shares of the company’s stock valued at $1,403,000 after buying an additional 800 shares during the last quarter. First Trust Advisors LP raised its position in Encore Capital Group by 22.0% in the fourth quarter. First Trust Advisors LP now owns 54,133 shares of the company’s stock valued at $1,574,000 after buying an additional 9,750 shares during the last quarter. Rhumbline Advisers raised its position in Encore Capital Group by 3.3% in the fourth quarter. Rhumbline Advisers now owns 39,690 shares of the company’s stock valued at $1,154,000 after buying an additional 1,275 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in Encore Capital Group by 7.8% in the fourth quarter. New York State Common Retirement Fund now owns 328,990 shares of the company’s stock valued at $9,567,000 after buying an additional 23,699 shares during the last quarter.

Encore Capital Group, Inc is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company conducts business through two segments: portfolio purchasing and recovery, and tax lien business. The Company’s portfolio purchasing and recovery segment purchases portfolios of defaulted consumer receivables at discounts and manages them by partnering with individuals as they repay their obligations and work toward financial recovery.

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