Burney Co. cut its position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG – Free Report) by 1.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 37,747 shares of the asset manager’s stock after selling 744 shares during the quarter. Burney Co. owned approximately 0.16% of Encore Capital Group worth $1,835,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of ECPG. Advisor Group Holdings Inc. boosted its stake in shares of Encore Capital Group by 162.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,216 shares of the asset manager’s stock valued at $264,000 after purchasing an additional 2,612 shares in the last quarter. MetLife Investment Management LLC boosted its position in Encore Capital Group by 33.0% during the first quarter. MetLife Investment Management LLC now owns 13,117 shares of the asset manager’s stock valued at $823,000 after buying an additional 3,253 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Encore Capital Group by 14.1% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,380 shares of the asset manager’s stock valued at $1,341,000 after buying an additional 2,638 shares during the last quarter. Quantedge Capital Pte Ltd increased its holdings in shares of Encore Capital Group by 108.2% in the first quarter. Quantedge Capital Pte Ltd now owns 12,700 shares of the asset manager’s stock worth $797,000 after buying an additional 6,600 shares during the period. Finally, Renaissance Technologies LLC lifted its stake in shares of Encore Capital Group by 44.8% in the 1st quarter. Renaissance Technologies LLC now owns 110,383 shares of the asset manager’s stock valued at $6,924,000 after acquiring an additional 34,132 shares during the last quarter.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on ECPG shares. Truist Financial reiterated a “buy” rating and issued a $73.00 price objective on shares of Encore Capital Group in a research report on Thursday, September 21st. StockNews.com assumed coverage on shares of Encore Capital Group in a research report on Thursday, October 5th. They set a “hold” rating for the company. Finally, JMP Securities decreased their price objective on shares of Encore Capital Group from $61.00 to $56.00 and set a “market outperform” rating on the stock in a research report on Monday, November 6th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.33.
Encore Capital Group Trading Down 0.5 %
ECPG opened at $43.96 on Thursday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.60. Encore Capital Group, Inc. has a 52 week low of $34.74 and a 52 week high of $58.46. The stock has a market cap of $1.03 billion, a PE ratio of -89.71 and a beta of 1.45. The business has a 50 day moving average of $45.02 and a 200-day moving average of $47.40.
Encore Capital Group (NASDAQ:ECPG – Get Free Report) last issued its quarterly earnings results on Wednesday, November 1st. The asset manager reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.56). Encore Capital Group had a negative net margin of 0.75% and a negative return on equity of 0.34%. The business had revenue of $309.62 million for the quarter, compared to analysts’ expectations of $332.57 million. During the same period last year, the business earned $1.22 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Equities research analysts predict that Encore Capital Group, Inc. will post 4.01 earnings per share for the current fiscal year.
Encore Capital Group Profile
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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