Encore Capital Group, Inc. (NASDAQ:ECPG) Director Ashwini Gupta Acquires 40,000 Shares

Encore Capital Group, Inc. (NASDAQ:ECPG) Director Ashwini Gupta bought 40,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The stock was purchased at an average price of $35.10 per share, with a total value of $1,404,000.00. Following the completion of the purchase, the director now directly owns 96,909 shares of the company’s stock, valued at approximately $3,401,505.90. This trade represents a 70.29 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Encore Capital Group Price Performance

ECPG opened at $34.46 on Thursday. The company has a market capitalization of $816.39 million, a P/E ratio of -4.39 and a beta of 1.55. The company has a 50-day moving average of $47.87 and a 200-day moving average of $47.78. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. Encore Capital Group, Inc. has a 1-year low of $32.99 and a 1-year high of $51.77.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings data 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 negative net margin of 13.91% and a positive return on equity of 12.70%. The firm had revenue of $265.62 million during the quarter, compared to the consensus estimate of $373.40 million. Equities analysts expect that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial cut their price objective on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. StockNews.com cut Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. JMP Securities raised their price objective on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Finally, Northland Securities lifted their price objective on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Encore Capital Group presently has a consensus rating of “Buy” and a consensus target price of $62.67.

Institutional Investors Weigh In On Encore Capital Group

Institutional investors have recently made changes to their positions in the company. Jane Street Group LLC boosted its holdings in Encore Capital Group by 191.7% in the third quarter. Jane Street Group LLC now owns 49,719 shares of the asset manager’s stock worth $2,350,000 after purchasing an additional 32,672 shares during the period. Sigma Planning Corp lifted its position in shares of Encore Capital Group by 317.0% in the 4th quarter. Sigma Planning Corp now owns 13,080 shares of the asset manager’s stock worth $625,000 after buying an additional 9,943 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Encore Capital Group in the 3rd quarter valued at about $695,000. Connor Clark & Lunn Investment Management Ltd. boosted its holdings 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 buying an additional 14,409 shares during the period. Finally, Wellington Management Group LLP grew its position in shares of Encore Capital Group by 16.0% during the 3rd quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock valued at $35,752,000 after buying an additional 104,509 shares during the last quarter.

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.