Wells Fargo & Company MN Purchases 2,953 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

Wells Fargo & Company MN grew its position in Encore Capital Group, Inc. (NASDAQ:ECPG) by 23.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 15,321 shares of the asset manager’s stock after buying an additional 2,953 shares during the period. Wells Fargo & Company MN owned approximately 0.06% of Encore Capital Group worth $732,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ECPG. Huntington National Bank lifted its position in Encore Capital Group by 152.5% in the 4th quarter. Huntington National Bank now owns 1,333 shares of the asset manager’s stock valued at $64,000 after acquiring an additional 805 shares in the last quarter. Franklin Resources Inc. bought a new position in shares of Encore Capital Group during the fourth quarter valued at $252,000. Meeder Asset Management Inc. bought a new position in shares of Encore Capital Group during the fourth quarter valued at $28,000. Clearbridge Investments LLC increased its holdings in Encore Capital Group by 0.5% in the 4th quarter. Clearbridge Investments LLC now owns 387,550 shares of the asset manager’s stock worth $18,513,000 after buying an additional 1,968 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its position in Encore Capital Group by 120.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock worth $25,000 after buying an additional 290 shares during the last quarter.

Insider Activity at Encore Capital Group

In related news, CEO Ashish Masih acquired 20,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $35.14 per share, with a total value of $702,800.00. Following the completion of the purchase, the chief executive officer now directly owns 322,254 shares of the company’s stock, valued at $11,324,005.56. This represents a 6.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ashwini Gupta acquired 40,000 shares of the business’s stock in a transaction that occurred on 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 completion of the purchase, the director now owns 96,909 shares in the company, valued at $3,401,505.90. This trade represents a 70.29 % increase in their position. The disclosure for this purchase can be found here. 2.63% of the stock is owned by company insiders.

Encore Capital Group Price Performance

NASDAQ ECPG opened at $34.42 on Friday. The company has a 50-day moving average price of $33.91 and a 200-day moving average price of $43.37. Encore Capital Group, Inc. has a 52 week low of $26.45 and a 52 week high of $51.77. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The firm has a market capitalization of $815.44 million, a P/E ratio of -4.38 and a beta of 1.58.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.05). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The business had revenue of $265.62 million during the quarter, compared to the consensus estimate of $373.40 million. Equities research analysts anticipate that Encore Capital Group, Inc. will post 5.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Truist Financial reduced their price target on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. StockNews.com upgraded shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $62.67.

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.