Encore Capital Group, Inc. (NASDAQ:ECPG) Sees Large Decrease in Short Interest

Encore Capital Group, Inc. (NASDAQ:ECPG) was the target of a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,410,000 shares, a decline of 6.0% from the January 15th total of 1,500,000 shares. Currently, 6.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 146,300 shares, the short-interest ratio is presently 9.6 days.

Insider Activity at Encore Capital Group

In related news, Director Laura Olle sold 1,340 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total value of $65,874.40. Following the completion of the transaction, the director now owns 32,381 shares of the company’s stock, valued at $1,591,849.96. The trade was a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Encore Capital Group

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Huntington National Bank lifted its stake in shares of Encore Capital Group by 8,700.0% in the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 522 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its holdings in Encore Capital Group by 120.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock worth $25,000 after purchasing an additional 290 shares in the last quarter. Meeder Asset Management Inc. bought a new position in Encore Capital Group in the fourth quarter valued at about $28,000. Sterling Capital Management LLC boosted its stake in shares of Encore Capital Group by 827.2% during the fourth quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock valued at $36,000 after purchasing an additional 670 shares in 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.

Encore Capital Group Price Performance

Shares of Encore Capital Group stock opened at $50.25 on Wednesday. The firm’s 50 day moving average is $48.60 and its 200 day moving average is $47.99. Encore Capital Group has a 1 year low of $39.64 and a 1 year high of $53.72. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39.

Wall Street Analysts Forecast Growth

ECPG has been the topic of several recent analyst reports. StockNews.com raised shares of Encore Capital Group from a “hold” rating to a “buy” rating in a report on Friday, November 29th. Northland Securities lifted their price objective on shares of Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Finally, JMP Securities upped their target price on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Encore Capital Group currently has a consensus rating of “Buy” and an average price target of $65.00.

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.