Encore Capital Group (NASDAQ:ECPG) Hits New 52-Week High – What’s Next?

Encore Capital Group Inc (NASDAQ:ECPG) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $59.59 and last traded at $58.40, with a volume of 12167 shares. The stock had previously closed at $58.02.

Wall Street Analysts Forecast Growth

ECPG has been the subject of several recent research reports. Citizens Jmp increased their target price on shares of Encore Capital Group from $59.00 to $75.00 and gave the stock a “market outperform” rating in a research note on Tuesday, January 20th. Northland Securities set a $70.00 target price on Encore Capital Group in a report on Thursday, January 22nd. Janney Montgomery Scott increased their price target on Encore Capital Group from $56.00 to $62.00 and gave the stock a “buy” rating in a report on Thursday, November 6th. Zacks Research lowered shares of Encore Capital Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Wall Street Zen downgraded shares of Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 16th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.00.

Encore Capital Group Stock Performance

The stock’s fifty day simple moving average is $56.06 and its 200-day simple moving average is $49.11. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 4.13. The company has a market capitalization of $1.30 billion, a PE ratio of -31.84 and a beta of 1.41.

Insider Buying and Selling at Encore Capital Group

In related news, insider Ryan B. Bell sold 2,500 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $55.00, for a total value of $137,500.00. Following the sale, the insider directly owned 55,410 shares of the company’s stock, valued at approximately $3,047,550. This represents a 4.32% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Laura Olle sold 1,423 shares of Encore Capital Group stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $52.79, for a total transaction of $75,120.17. Following the transaction, the director owned 35,024 shares of the company’s stock, valued at approximately $1,848,916.96. The trade was a 3.90% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC acquired a new position in Encore Capital Group in the second quarter valued at $27,000. IFP Advisors Inc raised its position in Encore Capital Group by 1,729.6% in the fourth quarter. IFP Advisors Inc now owns 494 shares of the asset manager’s stock valued at $27,000 after purchasing an additional 467 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Encore Capital Group by 185.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 717 shares of the asset manager’s stock worth $39,000 after purchasing an additional 466 shares during the last quarter. Allworth Financial LP increased its holdings in shares of Encore Capital Group by 29.1% in the fourth quarter. Allworth Financial LP now owns 1,139 shares of the asset manager’s stock worth $62,000 after buying an additional 257 shares during the period. Finally, LSV Asset Management bought a new stake in shares of Encore Capital Group in the 3rd quarter worth approximately $88,000.

About Encore Capital Group

Encore Capital Group, Inc is a global specialty finance company that focuses on the purchase and management of nonperforming consumer receivables. Through its subsidiaries, the company acquires charged-off debt portfolios from credit card issuers, banks, and other financial institutions, and seeks to recover outstanding balances through a combination of customer outreach, payment arrangements, and, where appropriate, legal collection efforts. Encore’s business model emphasizes compliance with regulatory and industry standards to ensure ethical and transparent debt-recovery practices.

Headquartered in San Diego, California, Encore operates across North America and Europe.