Highbridge Capital Management LLC Purchases Shares of 8,461 Encore Capital Group Inc (ECPG)

Highbridge Capital Management LLC purchased a new stake in shares of Encore Capital Group Inc (NASDAQ:ECPG) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 8,461 shares of the asset manager’s stock, valued at approximately $260,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Mason Street Advisors LLC raised its stake in Encore Capital Group by 7.3% in the first quarter. Mason Street Advisors LLC now owns 5,507 shares of the asset manager’s stock valued at $170,000 after buying an additional 374 shares in the last quarter. UBS Asset Management Americas Inc. purchased a new stake in Encore Capital Group during the first quarter valued at approximately $212,000. Russell Investments Group Ltd. purchased a new stake in Encore Capital Group during the first quarter valued at approximately $232,000. United Services Automobile Association purchased a new stake in Encore Capital Group during the first quarter valued at approximately $290,000. Finally, Louisiana State Employees Retirement System raised its stake in Encore Capital Group by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the asset manager’s stock valued at $296,000 after buying an additional 200 shares in the last quarter.

Shares of Encore Capital Group Inc (NASDAQ ECPG) opened at 40.30 on Wednesday. The company has a 50-day moving average of $38.44 and a 200 day moving average of $33.06. The stock has a market cap of $1.04 billion, a P/E ratio of 14.36 and a beta of 1.77. Encore Capital Group Inc has a 52-week low of $17.66 and a 52-week high of $41.38.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings results on Thursday, May 4th. The asset manager reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.02. Encore Capital Group had a net margin of 7.21% and a return on equity of 13.72%. The company had revenue of $271.94 million during the quarter, compared to the consensus estimate of $280.93 million. During the same quarter in the previous year, the company posted $1.31 earnings per share. The company’s revenue for the quarter was down 5.9% compared to the same quarter last year. Equities research analysts forecast that Encore Capital Group Inc will post $3.74 EPS for the current fiscal year.

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Several analysts recently commented on the stock. Zacks Investment Research lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Thursday, June 8th. Keefe, Bruyette & Woods assumed coverage on shares of Encore Capital Group in a research report on Wednesday, May 24th. They set an “outperform” rating and a $45.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Encore Capital Group presently has an average rating of “Hold” and a consensus price target of $33.00.

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.

Institutional Ownership by Quarter for Encore Capital Group (NASDAQ:ECPG)

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