Peregrine Capital Management LLC Reduces Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Peregrine Capital Management LLC lessened its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 3.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 87,530 shares of the asset manager’s stock after selling 3,208 shares during the period. Peregrine Capital Management LLC’s holdings in Encore Capital Group were worth $4,181,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ECPG. Huntington National Bank raised its stake in shares of Encore Capital Group by 8,700.0% during the third quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after acquiring an additional 522 shares in the last quarter. KBC Group NV raised its stake 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 valued at $65,000 after acquiring an additional 484 shares in the last quarter. R Squared Ltd bought a new stake in shares of Encore Capital Group during the fourth quarter valued at approximately $84,000. Systematic Financial Management LP bought a new stake in shares of Encore Capital Group during the third quarter valued at approximately $156,000. Finally, Versor Investments LP bought a new stake in shares of Encore Capital Group during the third quarter valued at approximately $222,000.

Encore Capital Group Stock Performance

Shares of NASDAQ:ECPG opened at $51.25 on Thursday. The company has a market capitalization of $1.21 billion, a price-to-earnings ratio of -6.53 and a beta of 1.55. Encore Capital Group, Inc. has a 52 week low of $39.64 and a 52 week 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. The firm has a 50 day moving average of $48.64 and a 200 day moving average of $48.01.

Insiders Place Their Bets

In other Encore Capital Group news, Director Laura Olle sold 1,340 shares of Encore Capital Group stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $49.16, for a total value of $65,874.40. Following the transaction, the director now directly owns 32,381 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. Corporate insiders own 2.63% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Northland Securities lifted their price target 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. JMP Securities boosted their price objective on shares of 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. Finally, StockNews.com raised shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $65.00.

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.