Stoneridge Investment Partners LLC cut its stake in shares of Encore Capital Group Inc. (NASDAQ:ECPG) by 20.8% during the second quarter, Holdings Channel reports. The firm owned 86,518 shares of the company’s stock after selling 22,725 shares during the period. Stoneridge Investment Partners LLC owned about 0.34% of Encore Capital Group worth $2,036,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the stock. GW&K Investment Management LLC boosted its position in Encore Capital Group by 83.8% in the first quarter. GW&K Investment Management LLC now owns 105,236 shares of the company’s stock worth $2,709,000 after buying an additional 47,971 shares during the last quarter. Prudential Financial Inc. boosted its position 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 during the last quarter. BlackRock Fund Advisors boosted its position 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 during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in Encore Capital Group by 2.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 669,158 shares of the company’s stock worth $17,224,000 after buying an additional 16,892 shares during the last quarter. Finally, BB&T Securities LLC boosted its position in Encore Capital Group by 56.3% in the first quarter. BB&T Securities LLC now owns 43,658 shares of the company’s stock worth $1,123,000 after buying an additional 15,728 shares during the last quarter.
Encore Capital Group Inc. (NASDAQ:ECPG) traded up 0.14% during midday trading on Wednesday, hitting $21.53. The stock had a trading volume of 249,726 shares. The stock has a 50-day moving average price of $21.74 and a 200 day moving average price of $24.45. Encore Capital Group Inc. has a 12-month low of $16.09 and a 12-month high of $41.44. The firm has a market cap of $549.57 million, a P/E ratio of 12.92 and a beta of 1.51.
Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.08. Encore Capital Group had a return on equity of 21.89% and a net margin of 3.72%. The firm earned $289 million during the quarter, compared to the consensus estimate of $296.97 million. During the same period in the previous year, the firm posted $1.21 EPS. The company’s quarterly revenue was up 2.1% compared to the same quarter last year. On average, equities analysts anticipate that Encore Capital Group Inc. will post $5.02 earnings per share for the current fiscal year.
A number of equities analysts recently weighed in on ECPG shares. Zacks Investment Research raised Encore Capital Group from a “sell” rating to a “hold” rating in a report on Friday, May 27th. JMP Securities reiterated a “buy” rating on shares of Encore Capital Group in a research note on Wednesday, June 8th. Northland Securities lowered Encore Capital Group from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $37.00 to $21.00 in a research note on Friday, August 5th. Finally, Citigroup Inc. cut their price objective on Encore Capital Group from $32.00 to $31.00 and set a “buy” rating for the company in a research note on Monday, August 8th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $32.60.
In related news, Director Willem Mesdag acquired 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now directly owns 36,278 shares of the company’s stock, valued at approximately $756,396.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 8.69% of the company’s stock.
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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