Brandywine Global Investment Management LLC Lowers Stake in Encore Capital Group, Inc. (NASDAQ:ECPG)

Brandywine Global Investment Management LLC lowered its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 61.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,672 shares of the asset manager’s stock after selling 91,370 shares during the period. Brandywine Global Investment Management LLC owned approximately 0.24% of Encore Capital Group worth $2,755,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Nomura Asset Management Co. Ltd. boosted its stake 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. R Squared Ltd bought a new position in shares of Encore Capital Group in the fourth quarter worth approximately $84,000. Quantbot Technologies LP purchased a new stake in shares of Encore Capital Group during the fourth quarter valued at approximately $150,000. Systematic Financial Management LP bought a new stake in shares of Encore Capital Group during the third quarter valued at approximately $156,000. Finally, Inceptionr LLC purchased a new position in Encore Capital Group in the 4th quarter worth approximately $202,000.

Analyst Upgrades and Downgrades

A number of research firms have commented on ECPG. Truist Financial reduced their target price 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 lifted their price objective on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a report 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 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. Based on data from MarketBeat, Encore Capital Group presently has an average rating of “Buy” and a consensus target price of $62.67.

Insider Transactions at Encore Capital Group

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

Encore Capital Group Stock Up 1.2 %

Encore Capital Group stock opened at $35.59 on Thursday. The stock has a market cap of $843.16 million, a PE ratio of -4.53 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 has a fifty day moving average of $42.40 and a 200 day moving average of $45.73. 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 issued its quarterly earnings data on Wednesday, February 26th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.05). The business 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%. As a group, sell-side analysts predict that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

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.