Stoneridge Investment Partners LLC Has $2,036,000 Position in Encore Capital Group Inc. (ECPG)
Stoneridge Investment Partners LLC decreased its stake in Encore Capital Group Inc. (NASDAQ:ECPG) by 20.8% during the second quarter, Holdings Channel reports. The institutional investor owned 86,518 shares of the company’s stock after selling 22,725 shares during the period. Stoneridge Investment Partners LLC’s holdings in Encore Capital Group were worth $2,036,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Louisiana State Employees Retirement System boosted its stake in Encore Capital Group by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the company’s stock valued at $247,000 after buying an additional 100 shares during the last quarter. Bank of Montreal Can purchased a new stake in Encore Capital Group during the second quarter valued at approximately $1,211,000. GW&K Investment Management LLC boosted its stake in Encore Capital Group by 12.2% in the second quarter. GW&K Investment Management LLC now owns 118,058 shares of the company’s stock valued at $2,778,000 after buying an additional 12,822 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Encore Capital Group by 138.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the company’s stock valued at $177,000 after buying an additional 4,360 shares during the last quarter. Finally, Hillcrest Asset Management LLC purchased a new stake in Encore Capital Group during the first quarter valued at approximately $5,410,000.
Shares of Encore Capital Group Inc. (NASDAQ:ECPG) traded up 0.14% during mid-day trading on Wednesday, hitting $21.53. 249,726 shares of the stock traded hands. The company has a market cap of $549.57 million, a price-to-earnings ratio of 12.92 and a beta of 1.51. Encore Capital Group Inc. has a 52 week low of $16.09 and a 52 week high of $41.44. The stock has a 50-day moving average of $21.74 and a 200-day moving average of $24.45.
Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Thursday, August 4th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.08. Encore Capital Group had a net margin of 3.72% and a return on equity of 21.89%. The company earned $289 million during the quarter, compared to the consensus estimate of $296.97 million. During the same quarter in the prior year, the firm earned $1.21 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. Analysts anticipate that Encore Capital Group Inc. will post $5.02 EPS for the current year.
Several research firms have commented on ECPG. Citigroup Inc. cut shares of Encore Capital Group from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $31.00 to $24.00 in a research note on Tuesday. Zacks Investment Research cut shares of Encore Capital Group from a “hold” rating to a “sell” rating in a research note on Monday, August 8th. Northland Securities cut shares of Encore Capital Group from an “outperform” rating to a “market perform” rating and lowered their target price for the stock from $37.00 to $21.00 in a research note on Friday, August 5th. Finally, JMP Securities reaffirmed a “buy” rating on shares of Encore Capital Group in a research note on Wednesday, June 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Encore Capital Group has an average rating of “Hold” and a consensus price target of $32.60.
In related news, Director Willem Mesdag bought 25,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was bought at an average price of $20.85 per share, for a total transaction of $521,250.00. Following the transaction, the director now directly owns 36,278 shares in the company, valued at $756,396.30. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.69% of the stock is currently owned by company insiders.
About Encore Capital Group
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through two segments: Portfolio Purchasing and Recovery, and Tax Lien Business. Its 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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