Systematic Financial Management LP Invests $156,000 in Encore Capital Group, Inc. (NASDAQ:ECPG)

Systematic Financial Management LP acquired a new stake in Encore Capital Group, Inc. (NASDAQ:ECPG) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,293 shares of the asset manager’s stock, valued at approximately $156,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ECPG. Huntington National Bank increased its position in shares of Encore Capital Group by 8,700.0% in the third quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after buying an additional 522 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in Encore Capital Group during the 2nd quarter valued at about $33,000. nVerses Capital LLC raised its position in Encore Capital Group by 450.0% during the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock worth $46,000 after acquiring an additional 900 shares during the last quarter. Innealta Capital LLC purchased a new stake in shares of Encore Capital Group in the second quarter valued at about $60,000. Finally, KBC Group NV lifted its holdings in shares of Encore Capital Group by 54.9% in the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock valued at $65,000 after purchasing an additional 484 shares in the last quarter.

Insider Transactions at Encore Capital Group

In other news, Director Laura Olle sold 1,340 shares of the company’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total transaction of $65,874.40. Following the completion of the sale, the director now directly owns 32,381 shares in the company, valued at $1,591,849.96. This represents a 3.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.63% of the company’s stock.

Encore Capital Group Trading Up 1.3 %

ECPG stock opened at $49.20 on Friday. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. Encore Capital Group, Inc. has a 52-week low of $39.64 and a 52-week high of $54.55. The stock’s fifty day simple moving average is $47.23 and its 200-day simple moving average is $46.35.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.22). The business had revenue of $367.07 million for the quarter, compared to analysts’ expectations of $360.70 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The business’s quarterly revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.79 earnings per share. Equities analysts predict that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ECPG shares. JMP Securities lifted their price objective on 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 cut their price target on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, August 20th. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $55.00 to $58.00 in a research note on Thursday, October 17th. Northland Capmk raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, StockNews.com upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating in a report on Friday, November 29th. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $62.33.

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.