EntryPoint Capital LLC Buys New Stake in Encore Capital Group, Inc. (NASDAQ:ECPG)

EntryPoint Capital LLC purchased a new position in Encore Capital Group, Inc. (NASDAQ:ECPG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,605 shares of the asset manager’s stock, valued at approximately $268,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. R Squared Ltd purchased a new position in shares of Encore Capital Group in the fourth quarter valued at $84,000. Quantbot Technologies LP bought a new position in Encore Capital Group during the fourth quarter valued at $150,000. Systematic Financial Management LP purchased a new position in shares of Encore Capital Group in the 3rd quarter worth $156,000. Inceptionr LLC bought a new stake in shares of Encore Capital Group in the 4th quarter worth about $202,000. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of Encore Capital Group during the 4th quarter valued at about $248,000.

Encore Capital Group Stock Performance

Shares of NASDAQ:ECPG opened at $34.26 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The company has a market capitalization of $811.65 million, a price-to-earnings ratio of -4.36 and a beta of 1.73. Encore Capital Group, Inc. has a 12 month low of $31.54 and a 12 month high of $51.77. The firm’s 50-day moving average is $43.24 and its 200 day moving average is $45.97.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.05). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The business had revenue of $265.62 million during the quarter, compared to analysts’ expectations of $373.40 million. Research analysts predict that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Ashish Masih bought 20,000 shares of the stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average cost of $35.14 per share, with a total value of $702,800.00. Following the completion of the purchase, the chief executive officer now owns 322,254 shares of the company’s stock, valued at $11,324,005.56. This trade represents a 6.62 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ashwini Gupta purchased 40,000 shares of Encore Capital Group stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average cost of $35.10 per share, for a total transaction of $1,404,000.00. Following the purchase, the director now directly owns 96,909 shares in the company, valued at $3,401,505.90. This trade represents a 70.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.63% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on ECPG shares. StockNews.com lowered Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial dropped their target price on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Finally, Northland Securities increased their price target on Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Encore Capital Group currently has an average rating of “Buy” and an average target price of $62.67.

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.