Encore Capital Group’s (ECPG) Market Outperform Rating Reiterated at JMP Securities

JMP Securities restated their market outperform rating on shares of Encore Capital Group (NASDAQ:ECPG) in a report published on Wednesday morning, Benzinga reports. The firm currently has a $60.00 price objective on the asset manager’s stock.

Separately, TheStreet downgraded shares of Encore Capital Group from a c- rating to a d+ rating in a report on Monday, March 18th.

Encore Capital Group Trading Up 1.7 %

Encore Capital Group stock opened at $41.22 on Wednesday. The company has a 50-day simple moving average of $47.12 and a 200-day simple moving average of $46.99. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.83 and a current ratio of 0.83. Encore Capital Group has a one year low of $34.74 and a one year high of $54.73.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Wednesday, February 21st. The asset manager reported $1.25 EPS for the quarter, topping the consensus estimate of $1.22 by $0.03. The business had revenue of $277.39 million during the quarter, compared to analyst estimates of $330.77 million. Encore Capital Group had a negative net margin of 16.89% and a positive return on equity of 9.46%. On average, sell-side analysts forecast that Encore Capital Group will post 5.93 EPS for the current year.

Insider Buying and Selling

In related news, insider Ryan B. Bell sold 5,500 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $50.00, for a total value of $275,000.00. Following the completion of the sale, the insider now owns 42,404 shares of the company’s stock, valued at $2,120,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Encore Capital Group

Several institutional investors have recently bought and sold shares of ECPG. Advisor Group Holdings Inc. lifted 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 valued at $264,000 after acquiring an additional 2,612 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Encore Capital Group by 33.0% in the 1st quarter. MetLife Investment Management LLC now owns 13,117 shares of the asset manager’s stock valued at $823,000 after acquiring an additional 3,253 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in Encore Capital Group by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 21,380 shares of the asset manager’s stock valued at $1,341,000 after acquiring an additional 2,638 shares during the last quarter. Quantedge Capital Pte Ltd lifted its holdings in Encore Capital Group by 108.2% in the 1st quarter. Quantedge Capital Pte Ltd now owns 12,700 shares of the asset manager’s stock valued at $797,000 after acquiring an additional 6,600 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in Encore Capital Group by 44.8% in the 1st quarter. Renaissance Technologies LLC now owns 110,383 shares of the asset manager’s stock valued at $6,924,000 after acquiring an additional 34,132 shares during the last quarter.

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.