Brandywine Global Investment Management LLC Lowers Holdings in Encore Capital Group, Inc. (NASDAQ:ECPG)

Brandywine Global Investment Management LLC lowered its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 61.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,672 shares of the asset manager’s stock after selling 91,370 shares during the quarter. Brandywine Global Investment Management LLC’s holdings in Encore Capital Group were worth $2,755,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. increased its holdings in Encore Capital Group by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 481,497 shares of the asset manager’s stock valued at $22,760,000 after acquiring an additional 18,467 shares during the last quarter. Verition Fund Management LLC lifted its position in shares of Encore Capital Group by 4.3% in the third quarter. Verition Fund Management LLC now owns 8,828 shares of the asset manager’s stock worth $417,000 after buying an additional 364 shares in the last quarter. Phase 2 Partners LLC boosted its stake in Encore Capital Group by 219.9% during the third quarter. Phase 2 Partners LLC now owns 241,509 shares of the asset manager’s stock valued at $11,416,000 after buying an additional 166,014 shares during the last quarter. Petrus Trust Company LTA grew its holdings in Encore Capital Group by 22.8% during the 3rd quarter. Petrus Trust Company LTA now owns 12,789 shares of the asset manager’s stock valued at $605,000 after buying an additional 2,377 shares in the last quarter. Finally, Systematic Financial Management LP bought a new stake in Encore Capital Group in the 3rd quarter worth approximately $156,000.

Wall Street Analyst Weigh In

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

Insider Activity

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

Encore Capital Group Stock Up 1.2 %

NASDAQ ECPG opened at $35.59 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. Encore Capital Group, Inc. has a 52 week low of $31.54 and a 52 week high of $51.77. The firm has a market capitalization of $843.16 million, a price-to-earnings ratio of -4.53 and a beta of 1.73. The company has a fifty day moving average of $42.40 and a two-hundred day moving average of $45.73.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 EPS for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $265.62 million for the quarter, compared to analysts’ expectations of $373.40 million. On average, analysts predict that Encore Capital Group, Inc. will post 5.09 earnings per share for the current year.

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.