StockNews.com Downgrades Encore Capital Group (NASDAQ:ECPG) to Sell

StockNews.com lowered shares of Encore Capital Group (NASDAQ:ECPG) from a hold rating to a sell rating in a research note released on Friday morning.

Other analysts also recently issued research reports about the stock. Truist Financial dropped their price target on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Northland Securities raised their target price on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Encore Capital Group has a consensus rating of “Moderate Buy” and an average price target of $62.67.

Encore Capital Group Price Performance

Shares of NASDAQ ECPG opened at $31.32 on Friday. The firm has a market cap of $742.00 million, a P/E ratio of -3.99 and a beta of 1.73. Encore Capital Group has a twelve month low of $29.87 and a twelve month high of $51.77. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The company has a 50 day moving average of $41.70 and a 200 day moving average of $45.53.

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

Insider Buying and Selling at Encore Capital Group

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

Hedge Funds Weigh In On Encore Capital Group

Several institutional investors and hedge funds have recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. grew its stake in shares of Encore Capital Group by 30.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,416,499 shares of the asset manager’s stock valued at $67,667,000 after acquiring an additional 327,637 shares during the period. Portolan Capital Management LLC bought a new stake in Encore Capital Group during the 4th quarter worth approximately $10,291,000. Marshall Wace LLP lifted its holdings in Encore Capital Group by 73.1% during the fourth quarter. Marshall Wace LLP now owns 318,096 shares of the asset manager’s stock valued at $15,195,000 after purchasing an additional 134,309 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Encore Capital Group by 16.0% in the third quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock worth $35,752,000 after purchasing an additional 104,509 shares during the period. Finally, Norges Bank purchased a new stake in shares of Encore Capital Group in the fourth quarter worth $3,361,000.

Encore Capital Group Company Profile

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.