California State Teachers Retirement System reduced its position in shares of Encore Capital Group Inc. (NASDAQ:ECPG) by 9.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,941 shares of the company’s stock after selling 5,205 shares during the period. California State Teachers Retirement System owned approximately 0.20% of Encore Capital Group worth $1,175,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Hillcrest Asset Management LLC purchased a new stake in Encore Capital Group during the first quarter worth approximately $5,410,000. Broad Run Investment Management LLC raised its stake in Encore Capital Group by 2.3% in the first quarter. Broad Run Investment Management LLC now owns 2,399,575 shares of the company’s stock worth $61,765,000 after buying an additional 54,140 shares in the last quarter. BlackRock Fund Advisors raised its stake in Encore Capital Group by 3.6% in the first quarter. BlackRock Fund Advisors now owns 1,534,806 shares of the company’s stock worth $39,506,000 after buying an additional 53,940 shares in the last quarter. Bank of Montreal Can purchased a new stake in Encore Capital Group during the second quarter worth approximately $1,211,000. Finally, Prudential Financial Inc. raised its stake in Encore Capital Group by 14.5% in the first quarter. Prudential Financial Inc. now owns 349,178 shares of the company’s stock worth $8,988,000 after buying an additional 44,239 shares in the last quarter.
Shares of Encore Capital Group Inc. (NASDAQ:ECPG) traded down 1.47% on Friday, reaching $21.41. 174,401 shares of the company traded hands. Encore Capital Group Inc. has a one year low of $16.09 and a one year high of $41.44. The stock has a market capitalization of $546.51 million, a P/E ratio of 12.85 and a beta of 1.51. The stock’s 50 day moving average price is $21.57 and its 200-day moving average price is $24.38.
Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings data on Thursday, August 4th. The company reported $1.29 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.21 by $0.08. The firm earned $289 million during the quarter, compared to analyst estimates of $296.97 million. Encore Capital Group had a net margin of 3.72% and a return on equity of 21.89%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.21 EPS. Equities analysts forecast that Encore Capital Group Inc. will post $5.02 earnings per share for the current fiscal year.
ECPG has been the topic of a number of analyst reports. Northland Securities lowered shares of Encore Capital Group from an “outperform” rating to a “market perform” rating and reduced their price objective for the company from $37.00 to $21.00 in a research note on Friday, August 5th. Citigroup Inc. lowered shares of Encore Capital Group from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $31.00 to $24.00 in a research note on Tuesday, September 20th. JMP Securities reaffirmed a “buy” rating on shares of Encore Capital Group in a research note on Wednesday, June 8th. Finally, Zacks Investment Research raised shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, June 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $32.60.
In other Encore Capital Group news, Director Willem Mesdag acquired 25,000 shares of the stock in a transaction dated Monday, August 8th. The stock was purchased at an average cost of $20.85 per share, for a total transaction of $521,250.00. Following the acquisition, the director now owns 36,278 shares in the company, valued at approximately $756,396.30. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.69% of the stock is currently owned by insiders.
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 two segments: Portfolio Purchasing and Recovery, and Tax Lien Business. Its portfolio purchasing and recovery segment purchases portfolios of defaulted consumer receivables at discounts and manages them by partnering with individuals as they repay their obligations and work toward financial recovery.
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