Texas Permanent School Fund Corp cut its holdings in Encore Capital Group, Inc. (NASDAQ:ECPG – Free Report) by 1.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,572 shares of the asset manager’s stock after selling 306 shares during the quarter. Texas Permanent School Fund Corp owned 0.09% of Encore Capital Group worth $1,000,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the business. UBS Group AG increased its holdings in Encore Capital Group by 102.4% in the 1st quarter. UBS Group AG now owns 960 shares of the asset manager’s stock worth $48,000 after acquiring an additional 40,480 shares in the last quarter. Royal Bank of Canada raised its position in shares of Encore Capital Group by 9.6% during the 3rd quarter. Royal Bank of Canada now owns 2,423 shares of the asset manager’s stock worth $110,000 after purchasing an additional 213 shares during the last quarter. Raymond James & Associates purchased a new position in Encore Capital Group in the 1st quarter valued at about $207,000. Raymond James Financial Services Advisors Inc. acquired a new stake in Encore Capital Group in the 2nd quarter worth about $203,000. Finally, Advisor Group Holdings Inc. boosted its holdings in Encore Capital Group by 162.8% in the 1st quarter. Advisor Group Holdings Inc. now owns 4,216 shares of the asset manager’s stock worth $264,000 after buying an additional 2,612 shares during the last quarter.
Analyst Ratings Changes
ECPG has been the topic of several research reports. JMP Securities decreased their target price on Encore Capital Group from $61.00 to $56.00 and set a “market outperform” rating on the stock in a research report on Monday, November 6th. StockNews.com initiated coverage on shares of Encore Capital Group in a research note on Thursday, October 5th. They issued a “hold” rating on the stock. Finally, Truist Financial restated a “buy” rating and set a $73.00 price target on shares of Encore Capital Group in a research report on Thursday, September 21st. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.33.
Encore Capital Group Stock Up 0.5 %
NASDAQ ECPG opened at $42.64 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.60. Encore Capital Group, Inc. has a 52 week low of $34.74 and a 52 week high of $58.46. The business’s fifty day simple moving average is $44.86 and its 200-day simple moving average is $47.29. The firm has a market cap of $1.00 billion, a PE ratio of -87.02 and a beta of 1.45.
Encore Capital Group (NASDAQ:ECPG – Get Free Report) last issued its earnings results on Wednesday, November 1st. The asset manager reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.56). Encore Capital Group had a negative return on equity of 0.34% and a negative net margin of 0.75%. The firm had revenue of $309.62 million for the quarter, compared to analysts’ expectations of $332.57 million. During the same period last year, the firm earned $1.22 earnings per share. Encore Capital Group’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts anticipate that Encore Capital Group, Inc. will post 4.01 earnings per share for the current year.
Encore Capital Group 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.
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