Encore Capital Group (NASDAQ:ECPG) Share Price Crosses Above 200 Day Moving Average – Here’s Why

Encore Capital Group Inc (NASDAQ:ECPG)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $43.77 and traded as high as $55.50. Encore Capital Group shares last traded at $55.4050, with a volume of 60,104 shares trading hands.

Analyst Ratings Changes

Several research analysts recently issued reports on ECPG shares. Janney Montgomery Scott increased their target price on shares of Encore Capital Group from $56.00 to $62.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Encore Capital Group in a research report on Wednesday, October 8th. Zacks Research upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 10th. Finally, Wall Street Zen downgraded Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $59.50.

Encore Capital Group Price Performance

The stock has a market capitalization of $1.24 billion, a P/E ratio of -30.28 and a beta of 1.48. The business’s 50 day simple moving average is $49.28 and its two-hundred day simple moving average is $43.77. The company has a quick ratio of 0.66, a current ratio of 0.66 and a debt-to-equity ratio of 4.13.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, November 5th. The asset manager reported $3.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.92 by $1.25. Encore Capital Group had a negative net margin of 2.89% and a positive return on equity of 25.27%. The company had revenue of $460.35 million for the quarter, compared to analyst estimates of $410.70 million. During the same quarter in the prior year, the business posted $1.26 EPS. The firm’s revenue was up 25.4% compared to the same quarter last year. As a group, sell-side analysts forecast that Encore Capital Group Inc will post 5.09 earnings per share for the current fiscal year.

Insider Transactions at Encore Capital Group

In other news, insider Ryan B. Bell sold 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, December 10th. The stock was sold at an average price of $55.00, for a total value of $137,500.00. Following the transaction, the insider owned 55,410 shares in the company, valued at $3,047,550. This trade represents a 4.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider John Yung sold 1,000 shares of the company’s stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $52.00, for a total value of $52,000.00. Following the sale, the insider owned 56,609 shares of the company’s stock, valued at $2,943,668. This trade represents a 1.74% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 4,923 shares of company stock valued at $264,620 over the last ninety days. 2.54% of the stock is currently owned by insiders.

Institutional Trading of Encore Capital Group

Several institutional investors and hedge funds have recently made changes to their positions in ECPG. Nisa Investment Advisors LLC bought a new position in shares of Encore Capital Group during the second quarter valued at about $27,000. GAMMA Investing LLC increased its stake in Encore Capital Group by 345.1% in the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the asset manager’s stock valued at $32,000 after buying an additional 635 shares during the last quarter. LSV Asset Management purchased a new stake in Encore Capital Group in the 3rd quarter valued at about $88,000. Tower Research Capital LLC TRC lifted its position in shares of Encore Capital Group by 168.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,716 shares of the asset manager’s stock worth $105,000 after buying an additional 1,706 shares in the last quarter. Finally, Virtus Advisers LLC purchased a new position in shares of Encore Capital Group in the 3rd quarter worth approximately $143,000.

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.