KBC Group NV Acquires 484 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

KBC Group NV lifted its stake in Encore Capital Group, Inc. (NASDAQ:ECPG) by 54.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,365 shares of the asset manager’s stock after acquiring an additional 484 shares during the period. KBC Group NV’s holdings in Encore Capital Group were worth $65,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ECPG. Stephens Investment Management Group LLC lifted its holdings in Encore Capital Group by 0.5% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,137,752 shares of the asset manager’s stock worth $53,782,000 after purchasing an additional 5,373 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Encore Capital Group by 0.9% in the second quarter. Bank of New York Mellon Corp now owns 182,117 shares of the asset manager’s stock worth $7,600,000 after buying an additional 1,650 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Encore Capital Group by 221.1% in the second quarter. Marshall Wace LLP now owns 130,127 shares of the asset manager’s stock valued at $5,430,000 after acquiring an additional 89,596 shares during the period. Millennium Management LLC grew its stake in Encore Capital Group by 60.0% during the second quarter. Millennium Management LLC now owns 80,170 shares of the asset manager’s stock valued at $3,345,000 after acquiring an additional 30,052 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Encore Capital Group by 14.0% during the 2nd quarter. Sei Investments Co. now owns 73,105 shares of the asset manager’s stock worth $3,051,000 after acquiring an additional 8,991 shares during the period.

Encore Capital Group Price Performance

ECPG opened at $49.14 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The stock has a market capitalization of $1.16 billion, a P/E ratio of -6.26 and a beta of 1.56. The stock has a 50-day moving average price of $46.98 and a 200-day moving average price of $46.16. Encore Capital Group, Inc. has a 12-month low of $39.64 and a 12-month high of $54.55.

Encore Capital Group (NASDAQ:ECPG) last issued its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.22). The firm had revenue of $367.07 million during the quarter, compared to analysts’ expectations of $360.70 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The firm’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. Equities analysts predict that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ECPG has been the subject of several analyst reports. Northland Securities raised shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and raised their price target for the company from $55.00 to $58.00 in a report on Thursday, October 17th. JMP Securities upped their target price on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Northland Capmk upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Truist Financial decreased their price objective on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Finally, StockNews.com lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Wednesday. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Encore Capital Group presently has a consensus rating of “Buy” and a consensus target price of $62.33.

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.