EntryPoint Capital LLC Acquires New Shares in Encore Capital Group, Inc. (NASDAQ:ECPG)

EntryPoint Capital LLC purchased a new position in Encore Capital Group, Inc. (NASDAQ:ECPG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,605 shares of the asset manager’s stock, valued at approximately $268,000.

Several other institutional investors also recently modified their holdings of ECPG. Jane Street Group LLC lifted its stake in Encore Capital Group by 191.7% during the 3rd quarter. Jane Street Group LLC now owns 49,719 shares of the asset manager’s stock valued at $2,350,000 after acquiring an additional 32,672 shares during the period. Sigma Planning Corp lifted its position in Encore Capital Group by 317.0% during the fourth quarter. Sigma Planning Corp now owns 13,080 shares of the asset manager’s stock valued at $625,000 after purchasing an additional 9,943 shares during the period. Charles Schwab Investment Management Inc. grew its position in Encore Capital Group by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,042 shares of the asset manager’s stock worth $24,460,000 after purchasing an additional 30,545 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Encore Capital Group in the 3rd quarter worth approximately $695,000. Finally, Semanteon Capital Management LP purchased a new stake in Encore Capital Group during the 4th quarter valued at $643,000.

Insiders Place Their Bets

In other Encore Capital Group news, Director Ashwini Gupta acquired 40,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $35.10 per share, for a total transaction of $1,404,000.00. Following the completion of the transaction, the director now directly owns 96,909 shares of the company’s stock, valued at approximately $3,401,505.90. The trade was a 70.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Ashish Masih bought 20,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $35.14 per share, with a total value of $702,800.00. Following the transaction, the chief executive officer now directly owns 322,254 shares of the company’s stock, valued at $11,324,005.56. This represents a 6.62 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.63% of the company’s stock.

Encore Capital Group Price Performance

Shares of Encore Capital Group stock opened at $34.26 on Friday. The stock has a market cap of $811.65 million, a P/E ratio of -4.36 and a beta of 1.73. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. The stock’s fifty day moving average is $43.24 and its 200 day moving average is $45.97. Encore Capital Group, Inc. has a one year low of $31.54 and a one year high of $51.77.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data on Wednesday, February 26th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.05). The company had revenue of $265.62 million during the quarter, compared to the consensus estimate of $373.40 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. Sell-side analysts anticipate that Encore Capital Group, Inc. will post 5.09 earnings per share for the current year.

Analyst Ratings Changes

Several analysts recently commented on ECPG shares. Truist Financial cut their price objective on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Northland Securities boosted their price target on 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, StockNews.com cut shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One investment 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 company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $62.67.

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.