Encore Capital Group (NASDAQ:ECPG) Hits New 12-Month Low – Here’s What Happened

Encore Capital Group, Inc. (NASDAQ:ECPG) shares hit a new 52-week low during mid-day trading on Friday . The company traded as low as $29.87 and last traded at $31.10, with a volume of 196141 shares traded. The stock had previously closed at $33.54.

Analyst Upgrades and Downgrades

ECPG has been the topic of several recent analyst reports. Northland Securities boosted their price target on Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Truist Financial reduced their target price on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Finally, StockNews.com cut shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Encore Capital Group currently has an average rating of “Buy” and a consensus target price of $62.67.

Encore Capital Group Trading Down 6.6 %

The company has a market cap of $742.00 million, a price-to-earnings ratio of -3.99 and a beta of 1.73. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. The business has a 50 day simple moving average of $42.07 and a 200 day simple moving average of $45.64.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data 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 negative net margin of 13.91% and a positive return on equity of 12.70%. The company had revenue of $265.62 million during the quarter, compared to analyst estimates of $373.40 million. As a group, equities analysts forecast that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Insider Buying and Selling

In related news, Director Ashwini Gupta purchased 40,000 shares of the business’s stock in a transaction dated 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 purchase, the director now directly owns 96,909 shares in the company, valued at $3,401,505.90. This trade represents a 70.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ashish Masih acquired 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $35.14 per share, with a total value of $702,800.00. Following the completion of the purchase, the chief executive officer now owns 322,254 shares of the company’s stock, valued at $11,324,005.56. This trade represents a 6.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.63% of the stock is currently owned by insiders.

Institutional Trading of Encore Capital Group

A number of large investors have recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its holdings in Encore Capital Group by 120.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock worth $25,000 after buying an additional 290 shares during the period. Meeder Asset Management Inc. bought a new stake in Encore Capital Group in the 4th quarter valued at approximately $28,000. Sterling Capital Management LLC boosted its position in Encore Capital Group by 827.2% during the 4th quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock worth $36,000 after acquiring an additional 670 shares during the last quarter. Huntington National Bank grew its stake in shares of Encore Capital Group by 152.5% during the 4th quarter. Huntington National Bank now owns 1,333 shares of the asset manager’s stock worth $64,000 after acquiring an additional 805 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in shares of Encore Capital Group in the fourth quarter valued at approximately $84,000.

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.