Encore Capital Group (NASDAQ:ECPG) Stock Rating Reaffirmed by JMP Securities

by · The Markets Daily

Encore Capital Group (NASDAQ:ECPG – Get Free Report)‘s stock had its “market outperform” rating reissued by research analysts at JMP Securities in a research note issued to investors on Monday, Benzinga reports. They presently have a $60.00 price objective on the asset manager’s stock. JMP Securities’ price objective indicates a potential upside of 34.68% from the stock’s current price.

Separately, Truist Financial dropped their price objective on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th.

View Our Latest Research Report on ECPG

Encore Capital Group Trading Down 0.7 %

ECPG stock traded down $0.33 during midday trading on Monday, reaching $44.55. The company’s stock had a trading volume of 11,083 shares, compared to its average volume of 147,474. The business’s 50-day simple moving average is $47.53 and its 200-day simple moving average is $45.26. The stock has a market cap of $1.06 billion, a PE ratio of -5.19 and a beta of 1.55. Encore Capital Group has a 52 week low of $34.74 and a 52 week high of $54.55. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.50.

Encore Capital Group (NASDAQ:ECPG – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The asset manager reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. The company had revenue of $355.29 million for the quarter, compared to analysts’ expectations of $346.06 million. Encore Capital Group had a negative net margin of 15.43% and a positive return on equity of 11.12%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period last year, the firm posted $1.08 earnings per share. As a group, sell-side analysts expect that Encore Capital Group will post 5.56 EPS for the current year.

Insider Buying and Selling

In related news, SVP Andrew Eric Asch sold 1,251 shares of the firm’s stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $50.00, for a total transaction of $62,550.00. Following the sale, the senior vice president now directly owns 18,075 shares in the company, valued at $903,750. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Encore Capital Group

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Meeder Asset Management Inc. acquired a new stake in Encore Capital Group in the 2nd quarter valued at $33,000. nVerses Capital LLC grew its position in shares of Encore Capital Group by 450.0% in the 2nd quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 900 shares during the period. Innealta Capital LLC bought a new position in shares of Encore Capital Group in the 2nd quarter valued at about $60,000. EntryPoint Capital LLC bought a new position in shares of Encore Capital Group in the 1st quarter valued at about $138,000. Finally, ProShare Advisors LLC grew its position in shares of Encore Capital Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 4,692 shares of the asset manager’s stock valued at $214,000 after acquiring an additional 323 shares during the period.

Encore Capital Group Company Profile

(Get Free Report)

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.

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