Encore Capital Group (NASDAQ:ECPG) Reaches New 52-Week Low – Here’s What Happened

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ECPG. Truist Financial cut their price objective on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Northland Securities lifted their price target on Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. Finally, StockNews.com lowered shares of Encore Capital Group from a “hold” rating to a “sell” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

Encore Capital Group Price Performance

The stock has a 50-day simple moving average of $41.70 and a 200 day simple moving average of $45.50. The stock has a market capitalization of $742.00 million, a P/E ratio of -3.99 and a beta of 1.73. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11.

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 the consensus estimate of $1.55 by ($0.05). The firm had revenue of $265.62 million during the quarter, compared to the consensus estimate of $373.40 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. On average, equities analysts forecast that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Insider Transactions at Encore Capital Group

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 owned by corporate insiders.

Hedge Funds Weigh In On Encore Capital Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ECPG. Vanguard Group Inc. raised its position in shares of Encore Capital Group by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 2,588,969 shares of the asset manager’s stock valued at $123,675,000 after acquiring an additional 16,663 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Encore Capital Group by 30.1% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,416,499 shares of the asset manager’s stock valued at $67,667,000 after purchasing an additional 327,637 shares in the last quarter. State Street Corp raised its holdings in Encore Capital Group by 0.3% in the third quarter. State Street Corp now owns 900,677 shares of the asset manager’s stock worth $42,575,000 after purchasing an additional 2,597 shares during the period. Wellington Management Group LLP boosted its position in shares of Encore Capital Group by 16.0% during the third quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock worth $35,752,000 after purchasing an additional 104,509 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Encore Capital Group by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 570,047 shares of the asset manager’s stock valued at $26,952,000 after buying an additional 13,648 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.