Hillsdale Investment Management Inc. increased its stake in shares of Encore Capital Group Inc (NASDAQ:ECPG – Free Report) by 4.2% in the 1st quarter, Holdings Channel reports. The firm owned 142,838 shares of the asset manager’s stock after buying an additional 5,700 shares during the period. Hillsdale Investment Management Inc.’s holdings in Encore Capital Group were worth $10,016,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its holdings in Encore Capital Group by 1,729.6% in the fourth quarter. IFP Advisors Inc now owns 494 shares of the asset manager’s stock worth $27,000 after purchasing an additional 467 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in Encore Capital Group by 185.7% during the 4th quarter. EverSource Wealth Advisors LLC now owns 717 shares of the asset manager’s stock valued at $39,000 after buying an additional 466 shares during the last quarter. Allworth Financial LP raised its stake in Encore Capital Group by 29.1% during the 4th quarter. Allworth Financial LP now owns 1,139 shares of the asset manager’s stock valued at $62,000 after buying an additional 257 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Encore Capital Group by 168.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 2,716 shares of the asset manager’s stock valued at $105,000 after buying an additional 1,706 shares during the period. Finally, Virtus Advisers LLC bought a new position in shares of Encore Capital Group during the 3rd quarter valued at $143,000.
Encore Capital Group Trading Down 1.8%
Shares of Encore Capital Group stock opened at $90.91 on Tuesday. The company’s fifty day simple moving average is $84.06 and its 200-day simple moving average is $71.70. The stock has a market capitalization of $1.95 billion, a PE ratio of 7.05 and a beta of 1.27. Encore Capital Group Inc has a 1-year low of $35.67 and a 1-year high of $94.60. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.90 and a quick ratio of 0.90.
Insiders Place Their Bets
In related news, insider John Yung sold 2,000 shares of Encore Capital Group stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $82.08, for a total transaction of $164,160.00. Following the transaction, the insider directly owned 64,570 shares in the company, valued at approximately $5,299,905.60. The trade was a 3.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 3.00% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research firms have recently issued reports on ECPG. Weiss Ratings downgraded Encore Capital Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 8th. Truist Financial upped their price objective on Encore Capital Group from $100.00 to $105.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Zacks Research downgraded Encore Capital Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen cut Encore Capital Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. Finally, Citigroup restated a “market outperform” rating on shares of Encore Capital Group in a research note on Wednesday, June 17th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, Encore Capital Group currently has a consensus rating of “Moderate Buy” and an average price target of $88.00.
Encore Capital Group Profile
Encore Capital Group, Inc is a global specialty finance company that focuses on the purchase and management of nonperforming consumer receivables. Through its subsidiaries, the company acquires charged-off debt portfolios from credit card issuers, banks, and other financial institutions, and seeks to recover outstanding balances through a combination of customer outreach, payment arrangements, and, where appropriate, legal collection efforts. Encore’s business model emphasizes compliance with regulatory and industry standards to ensure ethical and transparent debt-recovery practices.
Headquartered in San Diego, California, Encore operates across North America and Europe.
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