Tudor Investment Corp ET AL Acquires New Holdings in Encore Capital Group Inc $ECPG

Tudor Investment Corp ET AL acquired a new stake in shares of Encore Capital Group Inc (NASDAQ:ECPG) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 14,041 shares of the asset manager’s stock, valued at approximately $586,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. LSV Asset Management bought a new position in Encore Capital Group during the third quarter valued at approximately $88,000. Tower Research Capital LLC TRC increased its position in Encore Capital Group by 168.9% during the second 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 during the last quarter. Virtus Advisers LLC acquired a new position in Encore Capital Group during the third quarter worth $143,000. Financiere des Professionnels Fonds d investissement inc. acquired a new position in Encore Capital Group during the third quarter worth $174,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in Encore Capital Group during the third quarter worth $214,000.

Encore Capital Group Stock Down 1.3%

Encore Capital Group stock opened at $78.69 on Thursday. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 7.18 and a beta of 1.26. The company has a debt-to-equity ratio of 4.10, a current ratio of 0.68 and a quick ratio of 0.68. Encore Capital Group Inc has a fifty-two week low of $28.93 and a fifty-two week high of $80.16. The firm has a fifty day moving average price of $66.95 and a two-hundred day moving average price of $56.06.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, February 25th. The asset manager reported $3.37 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $1.17. The firm had revenue of $473.55 million during the quarter, compared to analyst estimates of $423.14 million. Encore Capital Group had a net margin of 14.52% and a return on equity of 28.19%. The business’s revenue was up 78.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($9.42) EPS. As a group, analysts forecast that Encore Capital Group Inc will post 5.09 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on ECPG shares. Wall Street Zen downgraded shares of Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 28th. Zacks Research raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, February 27th. Truist Financial upped their target price on Encore Capital Group from $59.00 to $80.00 and gave the stock a “buy” rating in a research report on Thursday, February 26th. Citigroup reaffirmed an “outperform” rating on shares of Encore Capital Group in a research report on Tuesday, January 20th. Finally, Northland Securities set a $70.00 target price on Encore Capital Group in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $75.50.

Insider Buying and Selling

In other Encore Capital Group news, insider Ryan B. Bell sold 7,240 shares of Encore Capital Group stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $69.04, for a total value of $499,849.60. Following the transaction, the insider directly owned 48,170 shares of the company’s stock, valued at $3,325,656.80. The trade was a 13.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.54% of the stock is currently owned by corporate insiders.

Encore Capital Group Company Profile

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.