Encore Capital Group (NASDAQ:ECPG) Shares Gap Up Following Insider Buying Activity

Encore Capital Group, Inc. (NASDAQ:ECPG)’s share price gapped up before the market opened on Thursday after an insider bought additional shares in the company. The stock had previously closed at $34.46, but opened at $36.37. Encore Capital Group shares last traded at $35.13, with a volume of 44,809 shares.

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

Analyst Ratings Changes

A number of research analysts have weighed in on ECPG shares. Truist Financial dropped their price objective 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. StockNews.com lowered Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Northland Securities upped their target price on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. Finally, JMP Securities raised their price target on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. 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. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $62.67.

Encore Capital Group Stock Up 1.9 %

The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. The business’s fifty day moving average price is $47.87 and its two-hundred day moving average price is $47.78. The firm has a market capitalization of $832.03 million, a P/E ratio of -4.47 and a beta of 1.55.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. Equities analysts expect that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Encore Capital Group

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Huntington National Bank boosted its stake in Encore Capital Group by 8,700.0% during the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 522 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in shares of Encore Capital Group by 120.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 290 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Encore Capital Group in the fourth quarter valued at $28,000. Sterling Capital Management LLC lifted its position in shares of Encore Capital Group by 827.2% in the fourth quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock worth $36,000 after purchasing an additional 670 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Encore Capital Group by 54.9% during the 3rd quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock valued at $65,000 after buying an additional 484 shares during the period.

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.