Encore Capital Group (NASDAQ:ECPG) Stock Rating Lowered by StockNews.com

Encore Capital Group (NASDAQ:ECPG) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a report issued on Friday.

Several other analysts also recently commented on ECPG. Truist Financial reduced their target price on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Northland Securities raised their price objective on Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $62.67.

Encore Capital Group Trading Down 6.6 %

Shares of ECPG stock traded down $2.22 on Friday, hitting $31.32. The company had a trading volume of 483,728 shares, compared to its average volume of 177,821. Encore Capital Group has a twelve month low of $29.84 and a twelve month high of $51.77. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market cap of $742.00 million, a P/E ratio of -3.99 and a beta of 1.73. The stock’s 50-day moving average is $41.70 and its two-hundred day moving average is $45.53.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.05). The firm had revenue of $265.62 million during the quarter, compared to analyst estimates of $373.40 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. On average, equities research analysts anticipate that Encore Capital Group will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Encore Capital Group

In other news, CEO Ashish Masih purchased 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $35.14 per share, with a total value of $702,800.00. Following the completion of the transaction, the chief executive officer now directly owns 322,254 shares of the company’s stock, valued at approximately $11,324,005.56. This trade represents a 6.62 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ashwini Gupta purchased 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were purchased at an average price of $35.10 per share, for a total transaction of $1,404,000.00. Following the completion of the acquisition, the director now owns 96,909 shares of the company’s stock, valued at $3,401,505.90. The trade was a 70.29 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Encore Capital Group

A number of hedge funds and other institutional investors have recently made changes to their positions in ECPG. Nomura Asset Management Co. Ltd. increased its holdings in Encore Capital Group by 120.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock worth $25,000 after buying an additional 290 shares during the last quarter. Meeder Asset Management Inc. bought a new position in shares of Encore Capital Group during the 4th quarter valued at approximately $28,000. Sterling Capital Management LLC increased its stake in shares of Encore Capital Group by 827.2% during the 4th quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock worth $36,000 after purchasing an additional 670 shares during the last quarter. Huntington National Bank raised its holdings in shares of Encore Capital Group by 152.5% in the 4th quarter. Huntington National Bank now owns 1,333 shares of the asset manager’s stock worth $64,000 after purchasing an additional 805 shares during the period. Finally, R Squared Ltd purchased a new position in Encore Capital Group in the fourth quarter valued at approximately $84,000.

About Encore Capital Group

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.