Oppenheimer Begins Coverage on Encore Capital Group (ECPG)

Oppenheimer assumed coverage on shares of Encore Capital Group (NASDAQ:ECPG) in a research report sent to investors on Monday. The firm issued a buy rating and a $53.00 price target on the asset manager’s stock.

Several other brokerages also recently commented on ECPG. SunTrust Banks reiterated a buy rating and set a $57.00 target price on shares of Encore Capital Group in a research note on Friday, November 3rd. Zacks Investment Research upgraded Encore Capital Group from a sell rating to a hold rating in a research note on Monday, November 6th. Janney Montgomery Scott restated a hold rating on shares of Encore Capital Group in a research note on Saturday, November 18th. Northland Securities restated a hold rating and issued a $49.00 price target on shares of Encore Capital Group in a research note on Friday, November 3rd. Finally, BidaskClub downgraded Encore Capital Group from a strong-buy rating to a buy rating in a research note on Thursday, December 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Encore Capital Group has a consensus rating of Buy and an average target price of $48.10.

Shares of Encore Capital Group (NASDAQ:ECPG) traded down $0.45 during midday trading on Monday, hitting $43.05. The stock had a trading volume of 180,343 shares, compared to its average volume of 211,418. The company has a debt-to-equity ratio of 5.60, a current ratio of 0.70 and a quick ratio of 0.70. Encore Capital Group has a one year low of $28.95 and a one year high of $52.00. The company has a market cap of $1,090.00, a P/E ratio of 12.23 and a beta of 1.82.

In related news, insider Paul Grinberg sold 37,546 shares of the business’s stock in a transaction on Wednesday, December 26th. The stock was sold at an average price of $42.43, for a total value of $1,593,076.78. Following the completion of the sale, the insider now directly owns 250,171 shares in the company, valued at approximately $10,614,755.53. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.80% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ECPG. Voya Investment Management LLC lifted its position in shares of Encore Capital Group by 6.7% during the 2nd quarter. Voya Investment Management LLC now owns 12,510 shares of the asset manager’s stock valued at $502,000 after acquiring an additional 785 shares during the period. PNC Financial Services Group Inc. lifted its position in shares of Encore Capital Group by 3.4% during the 2nd quarter. PNC Financial Services Group Inc. now owns 27,504 shares of the asset manager’s stock valued at $1,104,000 after acquiring an additional 912 shares during the period. American International Group Inc. lifted its position in shares of Encore Capital Group by 5.8% during the 3rd quarter. American International Group Inc. now owns 18,972 shares of the asset manager’s stock valued at $840,000 after acquiring an additional 1,036 shares during the period. Mackenzie Financial Corp lifted its position in shares of Encore Capital Group by 16.8% during the 3rd quarter. Mackenzie Financial Corp now owns 7,934 shares of the asset manager’s stock valued at $351,000 after acquiring an additional 1,140 shares during the period. Finally, Rhumbline Advisers lifted its position in shares of Encore Capital Group by 2.5% during the 3rd quarter. Rhumbline Advisers now owns 50,468 shares of the asset manager’s stock valued at $2,236,000 after acquiring an additional 1,247 shares during the period.

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About Encore Capital Group

Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.

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