State of Alaska Department of Revenue Reduces Stake in Encore Capital Group, Inc. (NASDAQ:ECPG)

State of Alaska Department of Revenue lessened its position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 2.8% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,520 shares of the asset manager’s stock after selling 394 shares during the quarter. State of Alaska Department of Revenue owned 0.06% of Encore Capital Group worth $639,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC grew its stake in shares of Encore Capital Group by 90.9% during the 3rd quarter. nVerses Capital LLC now owns 2,100 shares of the asset manager’s stock valued at $99,000 after purchasing an additional 1,000 shares during the period. Creative Planning grew its position in Encore Capital Group by 27.7% during the third quarter. Creative Planning now owns 7,155 shares of the asset manager’s stock valued at $338,000 after buying an additional 1,552 shares during the period. Shaker Investments LLC OH increased its holdings in Encore Capital Group by 4.3% during the third quarter. Shaker Investments LLC OH now owns 35,324 shares of the asset manager’s stock valued at $1,670,000 after buying an additional 1,471 shares during the last quarter. SG Americas Securities LLC raised its position in Encore Capital Group by 71.9% in the third quarter. SG Americas Securities LLC now owns 17,126 shares of the asset manager’s stock worth $810,000 after acquiring an additional 7,162 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Encore Capital Group by 7.3% in the second quarter. The Manufacturers Life Insurance Company now owns 11,647 shares of the asset manager’s stock worth $486,000 after acquiring an additional 790 shares during the period.

Encore Capital Group Trading Up 0.1 %

Shares of ECPG stock opened at $49.80 on Friday. The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.27 and a current ratio of 1.27. The stock has a fifty day simple moving average of $46.68 and a two-hundred day simple moving average of $45.63. The firm has a market capitalization of $1.18 billion, a PE ratio of -5.99 and a beta of 1.56. Encore Capital Group, Inc. has a 52-week low of $39.64 and a 52-week high of $54.55.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.21). The business had revenue of $367.07 million during the quarter, compared to the consensus estimate of $360.70 million. Encore Capital Group had a positive return on equity of 11.12% and a negative net margin of 15.43%. The business’s revenue was up 18.6% on a year-over-year basis. During the same period last year, the company earned $0.79 EPS. On average, analysts predict that Encore Capital Group, Inc. will post 5.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Truist Financial reduced their price objective on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. JMP Securities upped their price target on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Finally, Northland Securities raised shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $55.00 to $58.00 in a report on Thursday, October 17th. Three equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $62.33.

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.