Encore Capital Group Inc. (ECPG) Stock Price Down 1.2%
Shares of Encore Capital Group Inc. (NASDAQ:ECPG) dropped 1.2% during mid-day trading on Monday . The company traded as low as $22.32 and last traded at $22.35, with a volume of 76,178 shares trading hands. The stock had previously closed at $22.63.
ECPG has been the subject of a number of research reports. Zacks Investment Research raised Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, June 3rd. Citigroup Inc. reduced their price target on Encore Capital Group from $32.00 to $31.00 and set a “buy” rating for the company in a research report on Monday, August 8th. Northland Securities cut Encore Capital Group from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $37.00 to $21.00 in a research report on Friday, August 5th. Finally, JMP Securities reaffirmed a “buy” rating on shares of Encore Capital Group in a research report on Wednesday, June 8th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Encore Capital Group has a consensus rating of “Hold” and an average target price of $34.00.
The firm has a market cap of $575.61 million, a price-to-earnings ratio of 13.54 and a beta of 1.51. The company has a 50-day moving average price of $21.88 and a 200-day moving average price of $24.51.
Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Thursday, August 4th. The company reported $1.29 EPS for the quarter, beating the Zacks’ consensus estimate 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 business earned $289 million during the quarter, compared to analysts’ expectations of $296.97 million. During the same quarter in the prior year, the company earned $1.21 EPS. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts predict that Encore Capital Group Inc. will post $5.02 EPS for the current fiscal year.
In other news, Director Willem Mesdag bought 25,000 shares of the stock in a transaction on Monday, August 8th. The stock was purchased at an average price of $20.85 per share, for a total transaction of $521,250.00. Following the acquisition, the director now 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 accessible through the SEC website. Company insiders own 8.69% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the company. GW&K Investment Management LLC boosted its position in Encore Capital Group by 83.8% in the first quarter. GW&K Investment Management LLC now owns 105,236 shares of the company’s stock worth $2,709,000 after buying an additional 47,971 shares during the period. Prudential Financial Inc. boosted its position in Encore Capital Group by 14.5% in the first quarter. Prudential Financial Inc. now owns 349,178 shares of the company’s stock worth $8,988,000 after buying an additional 44,239 shares during the period. BlackRock Fund Advisors boosted its position in Encore Capital Group by 3.6% in the first quarter. BlackRock Fund Advisors now owns 1,534,806 shares of the company’s stock worth $39,506,000 after buying an additional 53,940 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in Encore Capital Group by 2.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 669,158 shares of the company’s stock worth $17,224,000 after buying an additional 16,892 shares during the period. Finally, BB&T Securities LLC boosted its position in Encore Capital Group by 56.3% in the first quarter. BB&T Securities LLC now owns 43,658 shares of the company’s stock worth $1,123,000 after buying an additional 15,728 shares during the period.
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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