Encore Capital Group (NASDAQ:ECPG) Shares Up 3%

Encore Capital Group, Inc. (NASDAQ:ECPG)’s share price rose 3% on Wednesday . The company traded as high as $44.61 and last traded at $41.74. Approximately 39,745 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 162,991 shares. The stock had previously closed at $40.54.

Analyst Ratings Changes

ECPG has been the topic of a number of research reports. TheStreet downgraded Encore Capital Group from a “c-” rating to a “d+” rating in a report on Monday, March 18th. JMP Securities reiterated a “market outperform” rating and set a $60.00 price objective on shares of Encore Capital Group in a research note on Wednesday.

Encore Capital Group Stock Performance

The business’s 50 day moving average price is $46.95 and its 200-day moving average price is $46.95. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.83 and a current ratio of 0.83.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Wednesday, February 21st. The asset manager reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.03. Encore Capital Group had a negative net margin of 16.89% and a positive return on equity of 9.46%. The firm had revenue of $277.39 million for the quarter, compared to the consensus estimate of $330.77 million. Equities research analysts predict that Encore Capital Group, Inc. will post 5.93 EPS for the current fiscal year.

Insider Buying and Selling

In other Encore Capital Group news, insider Ryan B. Bell sold 5,500 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $50.00, for a total value of $275,000.00. Following the transaction, the insider now directly owns 42,404 shares of the company’s stock, valued at approximately $2,120,200. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Encore Capital Group

A number of hedge funds have recently bought and sold shares of ECPG. Creative Planning bought a new position in Encore Capital Group during the 3rd quarter worth approximately $34,000. UBS Group AG lifted its stake in Encore Capital Group by 102.4% during the first quarter. UBS Group AG now owns 960 shares of the asset manager’s stock worth $48,000 after purchasing an additional 40,480 shares during the last quarter. Assetmark Inc. boosted its holdings in Encore Capital Group by 19.4% in the fourth quarter. Assetmark Inc. now owns 1,422 shares of the asset manager’s stock worth $72,000 after purchasing an additional 231 shares during the period. Royal Bank of Canada increased its stake in Encore Capital Group by 9.6% during the third quarter. Royal Bank of Canada now owns 2,423 shares of the asset manager’s stock valued at $110,000 after purchasing an additional 213 shares during the last quarter. Finally, Assenagon Asset Management S.A. acquired a new stake in shares of Encore Capital Group during the fourth quarter worth $206,000.

Encore Capital Group Company 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.