Peregrine Capital Management LLC Buys 2,559 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

Peregrine Capital Management LLC grew its stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 1.5% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 174,261 shares of the asset manager’s stock after buying an additional 2,559 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.56% of Encore Capital Group worth $5,956,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ECPG. Tower Research Capital LLC TRC grew its stake in shares of Encore Capital Group by 60.4% during the first quarter. Tower Research Capital LLC TRC now owns 2,261 shares of the asset manager’s stock worth $53,000 after buying an additional 851 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Encore Capital Group by 102.5% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,191 shares of the asset manager’s stock worth $109,000 after purchasing an additional 1,615 shares during the period. Russell Investments Group Ltd. lifted its holdings in shares of Encore Capital Group by 73.7% during the first quarter. Russell Investments Group Ltd. now owns 4,774 shares of the asset manager’s stock worth $111,000 after purchasing an additional 2,025 shares during the period. Financial Architects Inc acquired a new position in shares of Encore Capital Group during the first quarter worth $130,000. Finally, CWM Advisors LLC acquired a new position in shares of Encore Capital Group during the first quarter worth $165,000.

NASDAQ:ECPG opened at $36.53 on Friday. The company has a debt-to-equity ratio of 3.76, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50-day moving average of $34.65 and a 200-day moving average of $32.06. The company has a market cap of $1.14 billion, a PE ratio of 10.65, a PEG ratio of 0.12 and a beta of 1.52. Encore Capital Group, Inc. has a one year low of $15.27 and a one year high of $40.16.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Monday, May 11th. The asset manager reported ($0.19) EPS for the quarter, missing the consensus estimate of $1.13 by ($1.32). The business had revenue of $289.10 million for the quarter, compared to the consensus estimate of $326.44 million. Encore Capital Group had a return on equity of 14.42% and a net margin of 8.07%. The company’s revenue was down 16.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.46 earnings per share. On average, equities research analysts expect that Encore Capital Group, Inc. will post 7.03 earnings per share for the current fiscal year.

Several research firms recently issued reports on ECPG. Zacks Investment Research lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a report on Tuesday, July 21st. Keefe, Bruyette & Woods dropped their price objective on shares of Encore Capital Group from $50.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. BidaskClub upgraded shares of Encore Capital Group from a “sell” rating to a “hold” rating in a report on Friday, July 17th. Oppenheimer upped their price objective on shares of Encore Capital Group from $39.00 to $42.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. Finally, Northland Securities reiterated a “buy” rating and set a $50.00 price objective on shares of Encore Capital Group in a report on Thursday, May 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $40.50.

About Encore Capital Group

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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Institutional Ownership by Quarter for Encore Capital Group (NASDAQ:ECPG)

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