No Street GP LP Has $6.48 Million Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

No Street GP LP cut its stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 72.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,698 shares of the asset manager’s stock after selling 364,302 shares during the quarter. Encore Capital Group makes up about 0.4% of No Street GP LP’s portfolio, making the stock its 26th largest position. No Street GP LP owned approximately 0.57% of Encore Capital Group worth $6,482,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. raised its holdings in shares of Encore Capital Group by 120.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 290 shares during the period. Meeder Asset Management Inc. acquired a new position in Encore Capital Group during the 4th quarter worth approximately $28,000. Sterling Capital Management LLC raised its stake in Encore Capital Group by 827.2% during the 4th quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock worth $36,000 after buying an additional 670 shares during the period. Huntington National Bank boosted its holdings in Encore Capital Group by 152.5% in the fourth quarter. Huntington National Bank now owns 1,333 shares of the asset manager’s stock worth $64,000 after acquiring an additional 805 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Encore Capital Group in the fourth quarter valued at approximately $84,000.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ECPG. StockNews.com raised Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Tuesday. Truist Financial decreased their price target on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Encore Capital Group presently has a consensus rating of “Buy” and an average target price of $62.67.

Insider Buying and Selling at Encore Capital Group

In other Encore Capital Group news, Director Ashwini Gupta bought 40,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $35.10 per share, for a total transaction of $1,404,000.00. Following the purchase, the director now directly 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ashish Masih bought 20,000 shares of Encore Capital Group stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $35.14 per share, with a total value of $702,800.00. Following the completion of the acquisition, the chief executive officer now owns 322,254 shares of the company’s stock, valued at $11,324,005.56. This represents a 6.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 2.54% of the company’s stock.

Encore Capital Group Price Performance

ECPG stock opened at $40.32 on Wednesday. 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 business has a 50-day simple moving average of $33.56 and a two-hundred day simple moving average of $42.87. The company has a market capitalization of $941.43 million, a P/E ratio of -5.14 and a beta of 1.65. Encore Capital Group, Inc. has a 52-week low of $26.45 and a 52-week high of $51.77.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, May 7th. The asset manager reported $1.93 earnings per share for the quarter, beating analysts’ consensus estimates of $1.24 by $0.69. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company had revenue of $392.78 million for the quarter, compared to analyst estimates of $374.49 million. During the same quarter last year, the company earned $0.95 earnings per share. The company’s revenue for the quarter was up 19.6% on a year-over-year basis. Research analysts expect that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

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.