Encore Capital Group, Inc. (NASDAQ:ECPG) Stake Raised by Phase 2 Partners LLC

Phase 2 Partners LLC raised its holdings in Encore Capital Group, Inc. (NASDAQ:ECPG) by 219.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 241,509 shares of the asset manager’s stock after buying an additional 166,014 shares during the period. Encore Capital Group makes up approximately 6.8% of Phase 2 Partners LLC’s portfolio, making the stock its 3rd largest position. Phase 2 Partners LLC’s holdings in Encore Capital Group were worth $11,416,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Verition Fund Management LLC boosted its stake in shares of Encore Capital Group by 4.3% in the 3rd quarter. Verition Fund Management LLC now owns 8,828 shares of the asset manager’s stock valued at $417,000 after buying an additional 364 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in Encore Capital Group in the third quarter worth approximately $695,000. Charles Schwab Investment Management Inc. lifted its stake in Encore Capital Group by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 481,497 shares of the asset manager’s stock worth $22,760,000 after acquiring an additional 18,467 shares during the last quarter. Intech Investment Management LLC acquired a new position in Encore Capital Group during the 3rd quarter worth approximately $409,000. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Encore Capital Group by 177.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,550 shares of the asset manager’s stock valued at $1,066,000 after purchasing an additional 14,409 shares during the last quarter.

Encore Capital Group Stock Down 1.8 %

Shares of NASDAQ:ECPG opened at $48.35 on Wednesday. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a market cap of $1.15 billion, a P/E ratio of -6.16 and a beta of 1.55. Encore Capital Group, Inc. has a 1-year low of $39.64 and a 1-year high of $54.55. The firm has a fifty day moving average price of $47.11 and a 200 day moving average price of $46.28.

Encore Capital Group (NASDAQ:ECPG) last announced its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.22). The company had revenue of $367.07 million during the quarter, compared to analysts’ expectations of $360.70 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.79 earnings per share. Sell-side analysts predict that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Insider Transactions at Encore Capital Group

In other Encore Capital Group news, Director Laura Olle sold 1,340 shares of the business’s stock in a transaction on Wednesday, November 27th. The shares were sold at an average price of $49.16, for a total transaction of $65,874.40. Following the sale, the director now directly owns 32,381 shares in the company, valued at approximately $1,591,849.96. The trade was a 3.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.63% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ECPG. Northland Capmk upgraded shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. StockNews.com raised Encore Capital Group from a “hold” rating to a “buy” rating in a research report on Friday, November 29th. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $58.00 in a research report on Thursday, October 17th. JMP Securities upped their price target on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Finally, Truist Financial dropped their price target on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $62.33.

About Encore Capital Group

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across financial assets worldwide. The company purchases portfolios of defaulted consumer receivables at deep discounts to face value, as well as manages them by working with individuals as they repay their obligations and works toward financial recovery.