Encore Capital Group, Inc. (NASDAQ:ECPG) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in Encore Capital Group, Inc. (NASDAQ:ECPG) by 2.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 69,606 shares of the asset manager’s stock after selling 2,071 shares during the period. Rhumbline Advisers owned 0.29% of Encore Capital Group worth $2,386,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Bank of America Corp DE lifted its stake in shares of Encore Capital Group by 13.9% in the fourth quarter. Bank of America Corp DE now owns 67,268 shares of the asset manager’s stock worth $3,213,000 after acquiring an additional 8,213 shares in the last quarter. Man Group plc bought a new position in Encore Capital Group in the 4th quarter worth approximately $405,000. Deutsche Bank AG increased its stake in Encore Capital Group by 44.4% during the 4th quarter. Deutsche Bank AG now owns 21,535 shares of the asset manager’s stock valued at $1,029,000 after buying an additional 6,619 shares during the period. Sigma Planning Corp lifted its position in Encore Capital Group by 317.0% in the fourth quarter. Sigma Planning Corp now owns 13,080 shares of the asset manager’s stock worth $625,000 after purchasing an additional 9,943 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Encore Capital Group by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,042 shares of the asset manager’s stock worth $24,460,000 after buying an additional 30,545 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ECPG shares. Truist Financial dropped their price target on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday, February 27th. Wall Street Zen raised Encore Capital Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Encore Capital Group has a consensus rating of “Buy” and a consensus price target of $62.67.

Encore Capital Group Trading Up 2.3%

Shares of NASDAQ:ECPG opened at $39.00 on Tuesday. The business’s 50 day simple moving average is $36.13 and its 200 day simple moving average is $41.25. The company has a market capitalization of $910.61 million, a P/E ratio of -4.97 and a beta of 1.61. Encore Capital Group, Inc. has a 1 year low of $26.45 and a 1 year high of $51.77. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data on Wednesday, May 7th. The asset manager reported $1.93 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.69. The company had revenue of $392.78 million for the quarter, compared to analyst estimates of $374.49 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The firm’s quarterly revenue was up 19.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. On average, research analysts anticipate that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

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.