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.
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