Encore Capital Group (NASDAQ:ECPG) Reaches New 12-Month High at $49.25

Encore Capital Group, Inc. (NASDAQ:ECPG)’s stock price reached a new 52-week high during trading on Friday . The company traded as high as $49.25 and last traded at $48.99, with a volume of 701 shares trading hands. The stock had previously closed at $48.73.

Separately, Zacks Investment Research lowered shares of Encore Capital Group from a “hold” rating to a “sell” rating in a report on Friday, May 7th. One analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.67.

The firm has a market capitalization of $1.52 billion, a PE ratio of 4.88 and a beta of 1.61. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.46. The business has a 50 day moving average of $42.14.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, May 5th. The asset manager reported $2.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.09 by $0.88. The firm had revenue of $416.84 million during the quarter, compared to analysts’ expectations of $375.63 million. Encore Capital Group had a return on equity of 29.67% and a net margin of 19.45%. As a group, analysts predict that Encore Capital Group, Inc. will post 9.21 EPS for the current fiscal year.

In related news, insider Ryan B. Bell sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 6th. The shares were sold at an average price of $45.00, for a total transaction of $225,000.00. Following the sale, the insider now directly owns 37,735 shares in the company, valued at $1,698,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.01% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of ECPG. NorthCoast Asset Management LLC purchased a new position in Encore Capital Group in the first quarter valued at $720,000. Voloridge Investment Management LLC increased its holdings in shares of Encore Capital Group by 338.4% in the 1st quarter. Voloridge Investment Management LLC now owns 113,584 shares of the asset manager’s stock valued at $4,569,000 after acquiring an additional 87,678 shares during the last quarter. Eaton Vance Management purchased a new position in shares of Encore Capital Group in the 1st quarter valued at about $146,000. Maverick Capital Ltd. raised its position in shares of Encore Capital Group by 11.5% during the 1st quarter. Maverick Capital Ltd. now owns 6,849 shares of the asset manager’s stock worth $276,000 after acquiring an additional 709 shares in the last quarter. Finally, Cubist Systematic Strategies LLC lifted its stake in Encore Capital Group by 206.0% during the first quarter. Cubist Systematic Strategies LLC now owns 25,316 shares of the asset manager’s stock worth $1,018,000 after purchasing an additional 17,043 shares during the last quarter.

Encore Capital Group Company Profile (NASDAQ:ECPG)

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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