Rhumbline Advisers reduced its stake in shares of Encore Capital Group Inc (NASDAQ:ECPG) by 8.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 49,221 shares of the asset manager’s stock after selling 4,789 shares during the quarter. Rhumbline Advisers owned about 0.19% of Encore Capital Group worth $1,976,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Arizona State Retirement System grew its stake in shares of Encore Capital Group by 0.8% during the second quarter. Arizona State Retirement System now owns 12,357 shares of the asset manager’s stock valued at $496,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Encore Capital Group by 2.1% during the first quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the asset manager’s stock valued at $296,000 after buying an additional 200 shares during the last quarter. OppenheimerFunds Inc. grew its stake in shares of Encore Capital Group by 0.9% during the first quarter. OppenheimerFunds Inc. now owns 24,780 shares of the asset manager’s stock valued at $764,000 after buying an additional 230 shares during the last quarter. Texas Permanent School Fund grew its stake in shares of Encore Capital Group by 1.4% during the second quarter. Texas Permanent School Fund now owns 17,287 shares of the asset manager’s stock valued at $694,000 after buying an additional 237 shares during the last quarter. Finally, Mason Street Advisors LLC grew its stake in shares of Encore Capital Group by 7.3% during the first quarter. Mason Street Advisors LLC now owns 5,507 shares of the asset manager’s stock valued at $170,000 after buying an additional 374 shares during the last quarter.

Encore Capital Group Inc (ECPG) opened at 40.00 on Friday. The company has a market cap of $1.03 billion, a PE ratio of 16.39 and a beta of 1.77. The stock’s 50 day moving average price is $40.11 and its 200-day moving average price is $36.68. Encore Capital Group Inc has a 1-year low of $17.66 and a 1-year high of $43.65.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.05. The business had revenue of $290.92 million during the quarter, compared to the consensus estimate of $275.18 million. Encore Capital Group had a net margin of 6.28% and a return on equity of 12.38%. The business’s revenue was up .5% compared to the same quarter last year. During the same quarter last year, the firm earned $1.29 EPS. On average, analysts forecast that Encore Capital Group Inc will post $3.69 earnings per share for the current year.

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ECPG has been the topic of a number of analyst reports. Zacks Investment Research raised Encore Capital Group from a “sell” rating to a “hold” rating in a research note on Monday, August 7th. Northland Securities reaffirmed a “hold” rating and set a $44.00 target price on shares of Encore Capital Group in a research note on Friday, August 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $49.50 target price on shares of Encore Capital Group in a research note on Thursday, August 10th. BidaskClub cut Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, ValuEngine raised Encore Capital Group from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. Six investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $37.58.

Encore Capital Group Company Profile

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 Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.

Institutional Ownership by Quarter for Encore Capital Group (NASDAQ:ECPG)

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