Trexquant Investment LP bought a new position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 10,590 shares of the asset manager’s stock, valued at approximately $380,000.
Several other hedge funds have also bought and sold shares of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Encore Capital Group in the 3rd quarter valued at $219,000. Stevens Capital Management LP acquired a new position in Encore Capital Group in the 2nd quarter valued at $334,000. Dynamic Technology Lab Private Ltd acquired a new position in Encore Capital Group in the 2nd quarter valued at $343,000. GSA Capital Partners LLP acquired a new position in Encore Capital Group in the 2nd quarter valued at $431,000. Finally, Icon Advisers Inc. Co. acquired a new position in Encore Capital Group in the 3rd quarter valued at $470,000.
ECPG opened at $25.95 on Friday. The firm has a market cap of $823.14 million, a PE ratio of 6.47, a P/E/G ratio of 0.43 and a beta of 1.84. Encore Capital Group, Inc. has a 52-week low of $23.59 and a 52-week high of $47.80. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 4.58.
Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, November 7th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.19. The company had revenue of $336.77 million for the quarter, compared to analyst estimates of $342.33 million. Encore Capital Group had a return on equity of 19.38% and a net margin of 6.13%. Encore Capital Group’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.14 EPS. Equities analysts forecast that Encore Capital Group, Inc. will post 4.74 earnings per share for the current year.
In related news, insider Ashish Masih bought 12,500 shares of Encore Capital Group stock in a transaction dated Friday, November 9th. The shares were bought at an average cost of $24.26 per share, with a total value of $303,250.00. Following the acquisition, the insider now owns 114,187 shares in the company, valued at approximately $2,770,176.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jonathan C. Clark acquired 20,000 shares of the company’s stock in a transaction that occurred on Friday, November 9th. The shares were acquired at an average price of $24.04 per share, with a total value of $480,800.00. Following the completion of the transaction, the chief financial officer now owns 89,774 shares in the company, valued at $2,158,166.96. The disclosure for this purchase can be found here. Corporate insiders own 1.76% of the company’s stock.
ECPG has been the topic of a number of research reports. ValuEngine lowered Encore Capital Group from a “hold” rating to a “sell” rating in a report on Tuesday, August 28th. BidaskClub raised Encore Capital Group from a “strong sell” rating to a “sell” rating in a report on Tuesday, November 13th. Zacks Investment Research lowered Encore Capital Group from a “hold” rating to a “sell” rating in a report on Wednesday, October 10th. Oppenheimer reaffirmed a “hold” rating on shares of Encore Capital Group in a report on Thursday, November 8th. Finally, William Blair reissued an “outperform” rating on shares of Encore Capital Group in a report on Thursday, August 9th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $47.33.
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Encore Capital Group Company Profile
Encore Capital Group, Inc, a specialty finance company, together with its subsidiaries, provides debt recovery solutions and other related services for consumers across a range of 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.
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