Ashish Masih Buys 20,000 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG) Stock

Encore Capital Group, Inc. (NASDAQ:ECPG) CEO Ashish Masih acquired 20,000 shares of the stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price of $35.14 per share, for a total transaction of $702,800.00. Following the transaction, the chief executive officer now owns 322,254 shares of the company’s stock, valued at $11,324,005.56. This trade represents a 6.62 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

Encore Capital Group Trading Down 0.1 %

NASDAQ ECPG opened at $34.46 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. Encore Capital Group, Inc. has a 52-week low of $32.99 and a 52-week high of $51.77. The stock has a market capitalization of $816.39 million, a P/E ratio of -4.39 and a beta of 1.55. The firm has a 50-day moving average price of $47.87 and a 200 day moving average price of $47.78.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. raised its position in Encore Capital Group by 120.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock valued at $25,000 after buying an additional 290 shares during the period. Verition Fund Management LLC grew its holdings in shares of Encore Capital Group by 4.3% during the 3rd quarter. Verition Fund Management LLC now owns 8,828 shares of the asset manager’s stock worth $417,000 after purchasing an additional 364 shares in the last quarter. Sheets Smith Wealth Management grew its stake in shares of Encore Capital Group by 3.0% in the 4th quarter. Sheets Smith Wealth Management now owns 14,278 shares of the asset manager’s stock valued at $682,000 after purchasing an additional 416 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Encore Capital Group by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,317 shares of the asset manager’s stock valued at $636,000 after purchasing an additional 460 shares during the last quarter. Finally, KBC Group NV grew its holdings in shares of Encore Capital Group by 54.9% during the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock worth $65,000 after purchasing an additional 484 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ECPG. Northland Securities lifted their target price on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. JMP Securities upped their price target on shares of Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Truist Financial reduced their target price on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, StockNews.com lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average 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.