Encore Capital Group (NASDAQ:ECPG) Sets New 12-Month High at $49.25

Shares of Encore Capital Group, Inc. (NASDAQ:ECPG) hit a new 52-week high during trading on Friday . The stock traded as high as $49.25 and last traded at $48.99, with a volume of 701 shares. The stock had previously closed at $48.73.

Separately, Zacks Investment Research lowered Encore Capital Group from a “hold” rating to a “sell” rating in a report on Friday, May 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $53.67.

The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 2.46. The stock has a market cap of $1.52 billion, a PE ratio of 4.88 and a beta of 1.61. The stock has a 50 day moving average price of $42.14.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, May 5th. The asset manager reported $2.97 earnings per share for the quarter, topping analysts’ consensus estimates of $2.09 by $0.88. Encore Capital Group had a net margin of 19.45% and a return on equity of 29.67%. The firm had revenue of $416.84 million for the quarter, compared to analysts’ expectations of $375.63 million. As a group, sell-side analysts predict that Encore Capital Group, Inc. will post 9.21 earnings per share for the current year.

In related news, insider Ryan B. Bell sold 5,000 shares of the business’s stock in a transaction on Thursday, May 6th. The shares were sold at an average price of $45.00, for a total value of $225,000.00. Following the transaction, the insider now owns 37,735 shares in the company, valued at $1,698,075. The transaction was disclosed in a document filed with the SEC, which is available through this link. 2.01% of the stock is owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Assenagon Asset Management S.A. bought a new position in shares of Encore Capital Group during the 4th quarter worth approximately $222,000. Victory Capital Management Inc. boosted its stake in Encore Capital Group by 16.6% during the fourth quarter. Victory Capital Management Inc. now owns 16,908 shares of the asset manager’s stock worth $659,000 after acquiring an additional 2,403 shares in the last quarter. First Trust Advisors LP grew its holdings in Encore Capital Group by 54.3% in the fourth quarter. First Trust Advisors LP now owns 55,810 shares of the asset manager’s stock worth $2,174,000 after purchasing an additional 19,633 shares during the period. Focused Wealth Management Inc acquired a new stake in Encore Capital Group in the fourth quarter worth $65,000. Finally, State of Wisconsin Investment Board increased its stake in Encore Capital Group by 6.0% in the fourth quarter. State of Wisconsin Investment Board now owns 8,800 shares of the asset manager’s stock valued at $343,000 after purchasing an additional 500 shares in the last quarter.

About Encore Capital Group (NASDAQ:ECPG)

Encore Capital Group, Inc, a specialty finance company, together with its subsidiaries, provides debt recovery solutions and other related services for consumers across a range of 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.

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