JMP Securities Reaffirms Market Outperform Rating for Encore Capital Group (NASDAQ:ECPG)

JMP Securities restated their market outperform rating on shares of Encore Capital Group (NASDAQ:ECPG) in a research note issued to investors on Monday morning, Benzinga reports. They currently have a $60.00 price objective on the asset manager’s stock.

Separately, Truist Financial decreased their price target on Encore Capital Group from $70.00 to $64.00 and set a buy rating on the stock in a research note on Tuesday, August 20th.

Encore Capital Group Price Performance

NASDAQ:ECPG opened at $44.74 on Monday. Encore Capital Group has a one year low of $34.74 and a one year high of $54.55. The stock has a market cap of $1.06 billion, a PE ratio of -5.21 and a beta of 1.55. The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a 50 day moving average price of $47.50 and a 200 day moving average price of $45.25.

Encore Capital Group (NASDAQ:ECPG) last issued its earnings results on Wednesday, August 7th. The asset manager reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. The business had revenue of $355.29 million during the quarter, compared to the consensus estimate of $346.06 million. Encore Capital Group had a positive return on equity of 11.12% and a negative net margin of 15.43%. The company’s revenue for the quarter was up 10.0% on a year-over-year basis. During the same period last year, the company earned $1.08 EPS. Equities research analysts expect that Encore Capital Group will post 5.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Andrew Eric Asch sold 1,251 shares of Encore Capital Group stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $50.00, for a total transaction of $62,550.00. Following the sale, the senior vice president now directly owns 18,075 shares in the company, valued at $903,750. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.63% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of ECPG. Meeder Asset Management Inc. acquired a new stake in shares of Encore Capital Group in the 2nd quarter worth approximately $33,000. nVerses Capital LLC boosted its holdings in Encore Capital Group by 450.0% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 900 shares during the last quarter. Innealta Capital LLC purchased a new stake in Encore Capital Group during the second quarter valued at about $60,000. EntryPoint Capital LLC purchased a new position in shares of Encore Capital Group in the 1st quarter worth about $138,000. Finally, Victory Capital Management Inc. lifted its stake in shares of Encore Capital Group by 8.8% in the 2nd quarter. Victory Capital Management Inc. now owns 4,980 shares of the asset manager’s stock valued at $208,000 after purchasing an additional 403 shares in the last quarter.

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.