Turtle Creek Asset Management Inc. reduced its stake in Encore Capital Group Inc (NASDAQ:ECPG – Free Report) by 60.0% during the 1st quarter, HoldingsChannel reports. The firm owned 388,213 shares of the asset manager’s stock after selling 582,380 shares during the period. Encore Capital Group accounts for 1.0% of Turtle Creek Asset Management Inc.’s portfolio, making the stock its 25th biggest position. Turtle Creek Asset Management Inc.’s holdings in Encore Capital Group were worth $27,221,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Royal Bank of Canada raised its stake in shares of Encore Capital Group by 97.9% during the first quarter. Royal Bank of Canada now owns 33,620 shares of the asset manager’s stock worth $1,153,000 after purchasing an additional 16,634 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Encore Capital Group by 263.0% during the first quarter. AQR Capital Management LLC now owns 68,860 shares of the asset manager’s stock worth $2,361,000 after purchasing an additional 49,892 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Encore Capital Group by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,929 shares of the asset manager’s stock valued at $477,000 after buying an additional 612 shares during the last quarter. Empowered Funds LLC grew its position in Encore Capital Group by 2.0% in the 1st quarter. Empowered Funds LLC now owns 90,910 shares of the asset manager’s stock valued at $3,116,000 after buying an additional 1,806 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Encore Capital Group by 7.8% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 78,465 shares of the asset manager’s stock valued at $2,690,000 after buying an additional 5,672 shares during the period.
Insider Activity
In other news, insider John Yung sold 2,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $82.08, for a total value of $164,160.00. Following the completion of the transaction, the insider owned 64,570 shares in the company, valued at $5,299,905.60. This trade represents a 3.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is owned by corporate insiders.
Encore Capital Group Trading Down 2.2%
Encore Capital Group (NASDAQ:ECPG – Get Free Report) last released its earnings results on Wednesday, May 6th. The asset manager reported $3.86 EPS for the quarter, beating analysts’ consensus estimates of $3.02 by $0.84. The company had revenue of $475.41 million during the quarter, compared to the consensus estimate of $446.26 million. Encore Capital Group had a return on equity of 30.70% and a net margin of 16.00%.Encore Capital Group’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.93 earnings per share. Encore Capital Group has set its FY 2026 guidance at 13.000-13.000 EPS. As a group, sell-side analysts forecast that Encore Capital Group Inc will post 13.01 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
ECPG has been the subject of a number of analyst reports. Citigroup restated a “market outperform” rating on shares of Encore Capital Group in a research report on Wednesday, June 17th. Zacks Research downgraded shares of Encore Capital Group from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings lowered shares of Encore Capital Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, June 8th. Truist Financial increased their price target on shares of Encore Capital Group from $100.00 to $105.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Citizens Jmp raised their price objective on shares of Encore Capital Group from $108.00 to $115.00 and gave the company a “market outperform” rating in a research report on Wednesday, June 17th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.00.
Get Our Latest Report on Encore Capital Group
About Encore Capital Group
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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