Encore Capital Group (NASDAQ:ECPG) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Encore Capital Group Inc (NASDAQ:ECPG) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $53.14 and traded as high as $71.52. Encore Capital Group shares last traded at $70.70, with a volume of 228,962 shares traded.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Citigroup reaffirmed an “outperform” rating on shares of Encore Capital Group in a research report on Tuesday, January 20th. Truist Financial increased their price target on Encore Capital Group from $59.00 to $80.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Zacks Research raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Citizens Jmp upped their price objective on shares of Encore Capital Group from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Thursday, February 26th. Finally, Northland Securities set a $70.00 target price on shares of Encore Capital Group in a research note on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $75.50.

Encore Capital Group Stock Performance

The company has a debt-to-equity ratio of 4.10, a current ratio of 0.68 and a quick ratio of 0.68. The stock’s 50-day moving average price is $62.15 and its 200-day moving average price is $53.31. The company has a market cap of $1.47 billion, a P/E ratio of 6.28 and a beta of 1.35.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Wednesday, February 25th. The asset manager reported $3.37 earnings per share for the quarter, topping the consensus estimate of $2.20 by $1.17. Encore Capital Group had a net margin of 14.52% and a return on equity of 28.19%. The business had revenue of $473.55 million during the quarter, compared to analysts’ expectations of $423.14 million. During the same quarter in the previous year, the company earned ($9.42) EPS. The business’s revenue was up 78.3% on a year-over-year basis. Equities analysts anticipate that Encore Capital Group Inc will post 5.09 EPS for the current year.

Insiders Place Their Bets

In other news, insider Ryan B. Bell sold 7,240 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.04, for a total transaction of $499,849.60. Following the completion of the sale, the insider directly owned 48,170 shares in the company, valued at approximately $3,325,656.80. This represents a 13.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.54% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Encore Capital Group

A number of large investors have recently bought and sold shares of ECPG. IFP Advisors Inc raised its position in shares of Encore Capital Group by 1,729.6% in the 4th quarter. IFP Advisors Inc now owns 494 shares of the asset manager’s stock valued at $27,000 after buying an additional 467 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in Encore Capital Group by 185.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 717 shares of the asset manager’s stock valued at $39,000 after acquiring an additional 466 shares during the last quarter. Allworth Financial LP raised its position in Encore Capital Group by 29.1% during the fourth quarter. Allworth Financial LP now owns 1,139 shares of the asset manager’s stock valued at $62,000 after purchasing an additional 257 shares in the last quarter. LSV Asset Management bought a new stake in Encore Capital Group during the third quarter worth $88,000. Finally, Tower Research Capital LLC TRC lifted its stake in Encore Capital Group by 168.9% during the second quarter. Tower Research Capital LLC TRC now owns 2,716 shares of the asset manager’s stock worth $105,000 after purchasing an additional 1,706 shares during the last quarter.

About Encore Capital Group

Encore Capital Group, Inc is a global specialty finance company that focuses on the purchase and management of nonperforming consumer receivables. Through its subsidiaries, the company acquires charged-off debt portfolios from credit card issuers, banks, and other financial institutions, and seeks to recover outstanding balances through a combination of customer outreach, payment arrangements, and, where appropriate, legal collection efforts. Encore’s business model emphasizes compliance with regulatory and industry standards to ensure ethical and transparent debt-recovery practices.

Headquartered in San Diego, California, Encore operates across North America and Europe.