Encore Capital Group Inc (NASDAQ:ECPG) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its stake in shares of Encore Capital Group Inc (NASDAQ:ECPG) by 5.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,638 shares of the asset manager’s stock after selling 1,567 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.12% of Encore Capital Group worth $947,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Encore Capital Group by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,317 shares of the asset manager’s stock worth $636,000 after buying an additional 460 shares in the last quarter. Sheets Smith Wealth Management boosted its holdings in Encore Capital Group by 3.6% in the first quarter. Sheets Smith Wealth Management now owns 14,790 shares of the asset manager’s stock worth $507,000 after purchasing an additional 512 shares during the period. Sterling Capital Management LLC boosted its holdings in Encore Capital Group by 827.2% in the fourth quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock worth $36,000 after purchasing an additional 670 shares during the period. MetLife Investment Management LLC boosted its holdings in Encore Capital Group by 5.8% in the fourth quarter. MetLife Investment Management LLC now owns 14,158 shares of the asset manager’s stock worth $676,000 after purchasing an additional 771 shares during the period. Finally, LPL Financial LLC boosted its holdings in Encore Capital Group by 11.6% in the fourth quarter. LPL Financial LLC now owns 10,668 shares of the asset manager’s stock worth $510,000 after purchasing an additional 1,111 shares during the period.

Encore Capital Group Stock Performance

Encore Capital Group stock opened at $39.66 on Tuesday. The company has a market cap of $912.58 million, a PE ratio of -10.60 and a beta of 1.59. The company has a fifty day moving average price of $38.82 and a two-hundred day moving average price of $38.68. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.81 and a quick ratio of 0.81. Encore Capital Group Inc has a 12 month low of $26.45 and a 12 month high of $51.77.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, August 6th. The asset manager reported $2.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $1.05. The company had revenue of $442.12 million for the quarter, compared to analysts’ expectations of $383.42 million. Encore Capital Group had a positive return on equity of 19.61% and a negative net margin of 6.07%. The firm’s quarterly revenue was up 24.4% compared to the same quarter last year. During the same period last year, the business posted $1.34 earnings per share. Research analysts expect that Encore Capital Group Inc will post 5.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Encore Capital Group from a “sell” rating to a “hold” rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $62.67.

About Encore Capital Group

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.