Encore Capital Group (NASDAQ:ECPG) Sets New 52-Week High at $63.93

Encore Capital Group, Inc. (NASDAQ:ECPG) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $63.93 and last traded at $63.26, with a volume of 5632 shares changing hands. The stock had previously closed at $61.88.

Several brokerages recently issued reports on ECPG. Northland Securities upped their price objective on shares of Encore Capital Group from $70.00 to $75.00 in a research note on Friday. Zacks Investment Research downgraded shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Monday, November 8th. Finally, JMP Securities increased their price target on shares of Encore Capital Group from $54.00 to $71.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 4th.

The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 2.00. The company has a market cap of $1.97 billion, a PE ratio of 6.83 and a beta of 1.43. The stock’s 50 day simple moving average is $59.66 and its two-hundred day simple moving average is $52.58.

Encore Capital Group (NASDAQ:ECPG) last issued its earnings results on Wednesday, November 3rd. The asset manager reported $2.66 EPS for the quarter, beating the Zacks’ consensus estimate of $2.12 by $0.54. Encore Capital Group had a net margin of 19.03% and a return on equity of 24.63%. The business had revenue of $412.62 million for the quarter, compared to the consensus estimate of $372.31 million. During the same quarter last year, the firm posted $2.31 EPS. Analysts forecast that Encore Capital Group, Inc. will post 11.13 EPS for the current year.

In other news, CAO Gregory L. Call sold 10,000 shares of the firm’s stock in a transaction on Monday, December 20th. The shares were sold at an average price of $57.81, for a total value of $578,100.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. In the last three months, insiders sold 80,000 shares of company stock worth $4,839,700. Insiders own 2.01% of the company’s stock.

Several hedge funds have recently modified their holdings of ECPG. Advisor Group Holdings Inc. raised its stake in shares of Encore Capital Group by 19.4% in the 2nd quarter. Advisor Group Holdings Inc. now owns 1,418 shares of the asset manager’s stock valued at $67,000 after acquiring an additional 230 shares during the period. Envestnet Asset Management Inc. grew its holdings in Encore Capital Group by 43.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 24,730 shares of the asset manager’s stock valued at $1,172,000 after purchasing an additional 7,541 shares in the last quarter. Swiss National Bank grew its holdings in Encore Capital Group by 7.1% during the 2nd quarter. Swiss National Bank now owns 69,100 shares of the asset manager’s stock valued at $3,275,000 after purchasing an additional 4,600 shares in the last quarter. Sei Investments Co. acquired a new stake in Encore Capital Group during the 2nd quarter valued at $225,000. Finally, Mutual of America Capital Management LLC grew its holdings in Encore Capital Group by 5.3% during the 2nd quarter. Mutual of America Capital Management LLC now owns 4,408 shares of the asset manager’s stock valued at $209,000 after purchasing an additional 221 shares in the last quarter.

Encore Capital Group Company Profile (NASDAQ:ECPG)

Encore Capital Group, Inc engages in the provision of debt management and recovery solutions for consumers and property owners across a broad range of financial assets. It operates through the following geographical segments: United States, International, Europe, and Other. The company was founded in April 1999 and is headquartered in San Diego, CA.

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