Encore Capital Group (NASDAQ:ECPG) Director Laura Olle Sells 10,493 Shares of Company Stock

Encore Capital Group Inc (NASDAQ:ECPG) Director Laura Olle sold 10,493 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $112.93, for a total value of $1,184,974.49. Following the completion of the transaction, the director owned 26,675 shares of the company’s stock, valued at approximately $3,012,407.75. This represents a 28.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Encore Capital Group Stock Down 2.2%

NASDAQ:ECPG opened at $109.86 on Friday. Encore Capital Group Inc has a twelve month low of $47.49 and a twelve month high of $126.74. The firm has a market capitalization of $2.29 billion, a price-to-earnings ratio of 7.04 and a beta of 1.29. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 3.93. The stock’s 50 day moving average price is $100.98 and its two-hundred day moving average price is $85.31.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, November 4th. The asset manager reported $5.57 EPS for the quarter, beating the consensus estimate of $3.35 by $2.22. Encore Capital Group had a return on equity of 33.67% and a net margin of 17.67%. The company had revenue of $544.54 million during the quarter, compared to the consensus estimate of $466.80 million. During the same quarter in the prior year, the firm posted $3.17 EPS. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. Equities research analysts expect that Encore Capital Group Inc will post 16.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on ECPG shares. Truist Financial increased their price target on shares of Encore Capital Group from $112.00 to $122.00 and gave the company a “buy” rating in a research note on Thursday, November 5th. Citizens Jmp upped their target price on shares of Encore Capital Group from $115.00 to $140.00 and gave the company a “market outperform” rating in a report on Thursday, November 5th. Weiss Ratings upgraded shares of Encore Capital Group from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, October 8th. Wall Street Zen upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Saturday, November 7th. Finally, Zacks Research upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Friday, November 6th. One research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $128.67.

Hedge Funds Weigh In On Encore Capital Group

Several institutional investors and hedge funds have recently modified their holdings of ECPG. Bank of America Corp DE bought a new stake in shares of Encore Capital Group during the 2nd quarter worth about $8,210,000. Hsbc Holdings PLC grew its stake in Encore Capital Group by 36.6% in the 2nd quarter. Hsbc Holdings PLC now owns 48,827 shares of the asset manager’s stock valued at $4,554,000 after buying an additional 13,089 shares during the last quarter. Assenagon Asset Management S.A. raised its holdings in Encore Capital Group by 380.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 56,105 shares of the asset manager’s stock valued at $5,234,000 after acquiring an additional 44,429 shares during the period. Bank of New York Mellon Corp bought a new position in Encore Capital Group in the 2nd quarter valued at about $11,664,000. Finally, Jupiter Topco LLC bought a new position in Encore Capital Group in the 2nd quarter valued at about $1,007,000.

Encore Capital Group Company Profile

Encore Capital Group (NASDAQ: ECPG) is a specialty finance company that purchases portfolios of charged-off consumer debt and works to recover amounts owed. Its activities include managing repayment arrangements and providing customer support through its own operations and service providers. The company operates through businesses including Midland Credit Management in the United States and Cabot Credit Management in the United Kingdom and other European markets. Its operations also include customer-service and support functions in India.