Dynamic Technology Lab Private Ltd Takes $695,000 Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Dynamic Technology Lab Private Ltd purchased a new position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 14,687 shares of the asset manager’s stock, valued at approximately $695,000. Dynamic Technology Lab Private Ltd owned 0.06% of Encore Capital Group as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC boosted its position in Encore Capital Group by 0.5% during the third 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 during the period. Charles Schwab Investment Management Inc. boosted its holdings in Encore Capital Group by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 481,497 shares of the asset manager’s stock worth $22,760,000 after buying an additional 18,467 shares during the period. Bank of New York Mellon Corp boosted its holdings in Encore Capital Group by 0.9% in the 2nd 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 during the period. Marshall Wace LLP grew its stake in Encore Capital Group by 221.1% in the 2nd quarter. Marshall Wace LLP now owns 130,127 shares of the asset manager’s stock valued at $5,430,000 after buying an additional 89,596 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in Encore Capital Group by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 84,812 shares of the asset manager’s stock valued at $4,009,000 after acquiring an additional 4,288 shares during the period.

Encore Capital Group Stock Up 0.7 %

ECPG opened at $49.38 on Friday. The business’s fifty day simple moving average is $47.01 and its 200 day simple moving average is $46.23. Encore Capital Group, Inc. has a 52 week low of $39.64 and a 52 week high of $54.55. 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 stock has a market cap of $1.17 billion, a PE ratio of -6.29 and a beta of 1.56.

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

Insiders Place Their Bets

In other Encore Capital Group news, Director Laura Olle sold 1,340 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total value of $65,874.40. Following the completion of the sale, the director now owns 32,381 shares in the company, valued at approximately $1,591,849.96. The trade was a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.63% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ECPG. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $55.00 to $58.00 in a report on Thursday, October 17th. Northland Capmk raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. StockNews.com cut shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Wednesday, November 20th. JMP Securities increased their target price on shares of 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. Finally, Truist Financial reduced their price target on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average 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.