Highbridge Capital Management LLC acquired a new position in shares of Encore Capital Group Inc (NASDAQ:ECPG) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 8,461 shares of the asset manager’s stock, valued at approximately $260,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Encore Capital Group during the fourth quarter worth about $8,662,000. FMR LLC boosted its stake in Encore Capital Group by 74.9% in the first quarter. FMR LLC now owns 616,608 shares of the asset manager’s stock worth $18,992,000 after buying an additional 264,085 shares during the last quarter. Peregrine Capital Management LLC bought a new stake in Encore Capital Group during the first quarter worth $6,795,000. Vanguard Group Inc. boosted its stake in Encore Capital Group by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,128,159 shares of the asset manager’s stock worth $65,547,000 after buying an additional 169,254 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its stake in Encore Capital Group by 7.7% in the first quarter. William Blair Investment Management LLC now owns 2,250,437 shares of the asset manager’s stock worth $69,313,000 after buying an additional 161,788 shares during the last quarter.
Encore Capital Group Inc (NASDAQ ECPG) traded up 11.07% during trading on Friday, reaching $42.65. 648,556 shares of the company traded hands. The firm’s 50 day moving average price is $40.03 and its 200 day moving average price is $34.97. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 15.20 and a beta of 1.76. Encore Capital Group Inc has a 12-month low of $17.66 and a 12-month high of $43.50.
Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data on Thursday, August 3rd. The asset manager reported $0.87 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.82 by $0.05. Encore Capital Group had a net margin of 7.21% and a return on equity of 13.72%. The business had revenue of $290.92 million for the quarter, compared to analysts’ expectations of $275.18 million. During the same quarter in the previous year, the business posted $1.29 earnings per share. The business’s revenue was up .5% compared to the same quarter last year. Equities research analysts expect that Encore Capital Group Inc will post $3.73 earnings per share for the current year.
ECPG has been the topic of a number of research reports. Zacks Investment Research cut shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods started coverage on shares of Encore Capital Group in a report on Wednesday, May 24th. They set an “outperform” rating and a $45.00 price target on the stock. BidaskClub lowered shares of Encore Capital Group from a “strong-buy” rating to a “buy” rating in a report on Monday, July 24th. Finally, Northland Securities reiterated a “hold” rating and set a $44.00 price target on shares of Encore Capital Group in a report on Friday. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $36.83.
Encore Capital Group Company Profile
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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