Quantedge Capital Pte Ltd bought a new stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG – Get Rating) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 6,100 shares of the asset manager’s stock, valued at approximately $379,000.
Several other large investors have also made changes to their positions in ECPG. O Shaughnessy Asset Management LLC lifted its position in shares of Encore Capital Group by 30,950.0% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 1,242 shares of the asset manager’s stock valued at $61,000 after buying an additional 1,238 shares in the last quarter. Royal Bank of Canada raised its stake in Encore Capital Group by 32.2% in the 2nd quarter. Royal Bank of Canada now owns 4,094 shares of the asset manager’s stock valued at $194,000 after purchasing an additional 997 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Encore Capital Group by 28.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,166 shares of the asset manager’s stock valued at $197,000 after purchasing an additional 698 shares during the last quarter. Jump Financial LLC acquired a new position in Encore Capital Group in the 3rd quarter valued at $204,000. Finally, Cambria Investment Management L.P. acquired a new position in Encore Capital Group in the 4th quarter valued at $212,000.
Several research firms recently commented on ECPG. Northland Securities increased their price objective on Encore Capital Group from $75.00 to $80.00 and gave the company an “outperform” rating in a research note on Tuesday, February 15th. Zacks Investment Research raised Encore Capital Group from a “hold” rating to a “strong-buy” rating and set a $71.00 price objective for the company in a research note on Friday, May 6th. StockNews.com raised Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, May 6th. Finally, Truist Financial raised their target price on Encore Capital Group from $70.00 to $87.00 in a research note on Thursday, February 24th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Encore Capital Group currently has an average rating of “Buy” and a consensus price target of $77.25.
Encore Capital Group stock traded up $0.86 during midday trading on Friday, reaching $57.21. 271,941 shares of the stock traded hands, compared to its average volume of 266,591. The company has a 50-day simple moving average of $60.56 and a two-hundred day simple moving average of $61.98. Encore Capital Group, Inc. has a 12-month low of $43.22 and a 12-month high of $72.67. The firm has a market cap of $1.39 billion, a PE ratio of 3.90 and a beta of 1.29. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 2.35.
Encore Capital Group (NASDAQ:ECPG – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The asset manager reported $6.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $4.40. The business had revenue of $499.60 million during the quarter, compared to analysts’ expectations of $347.08 million. Encore Capital Group had a return on equity of 33.89% and a net margin of 25.45%. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter last year, the business posted $2.97 EPS. Equities research analysts anticipate that Encore Capital Group, Inc. will post 12.88 earnings per share for the current year.
About Encore Capital Group (Get Rating)
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.
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