Heartland Advisors Inc. acquired a new position in Encore Capital Group Inc (NASDAQ:ECPG – Free Report) in the 2nd quarter, HoldingsChannel reports. The fund acquired 362,825 shares of the asset manager’s stock, valued at approximately $33,848,000. Encore Capital Group accounts for about 1.5% of Heartland Advisors Inc.’s holdings, making the stock its 4th biggest position.
Several other large investors have also modified their holdings of the business. BlackRock Inc. bought a new position in shares of Encore Capital Group during the second quarter valued at approximately $343,229,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Encore Capital Group by 658.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 334,018 shares of the asset manager’s stock worth $23,421,000 after buying an additional 289,964 shares during the period. AQR Capital Management LLC lifted its stake in shares of Encore Capital Group by 78.0% during the 4th quarter. AQR Capital Management LLC now owns 412,498 shares of the asset manager’s stock worth $22,419,000 after acquiring an additional 180,733 shares during the last quarter. Hillsdale Investment Management Inc. bought a new stake in shares of Encore Capital Group during the 4th quarter worth approximately $7,453,000. Finally, Jane Street Group LLC lifted its stake in shares of Encore Capital Group by 488.1% during the 4th quarter. Jane Street Group LLC now owns 154,128 shares of the asset manager’s stock worth $8,377,000 after acquiring an additional 127,920 shares during the last quarter.
Encore Capital Group Stock Performance
Encore Capital Group stock opened at $101.21 on Friday. The company has a debt-to-equity ratio of 3.87, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $2.15 billion, a PE ratio of 7.66 and a beta of 1.27. The company has a 50 day moving average price of $92.20 and a 200-day moving average price of $79.60. Encore Capital Group Inc has a fifty-two week low of $39.94 and a fifty-two week high of $104.98.
Analysts Set New Price Targets
Several equities analysts have commented on ECPG shares. Zacks Research raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Weiss Ratings upgraded Encore Capital Group from a “hold (c)” rating to a “buy (b-)” rating in a research report on Monday, August 3rd. Truist Financial boosted their target price on shares of Encore Capital Group from $105.00 to $112.00 and gave the company a “buy” rating in a research note on Thursday, August 6th. Citigroup restated a “market outperform” rating on shares of Encore Capital Group in a report on Tuesday, August 11th. Finally, Citizens Jmp upped their price target on shares of Encore Capital Group from $108.00 to $115.00 and gave the stock a “market outperform” rating in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company. Based on data from MarketBeat, Encore Capital Group presently has an average rating of “Buy” and a consensus price target of $89.75.
Read Our Latest Report on ECPG
Insider Buying and Selling at Encore Capital Group
In other Encore Capital Group news, insider John Yung sold 2,000 shares of the company’s stock in a transaction on Wednesday, June 10th. The stock was sold at an average price of $82.08, for a total value of $164,160.00. Following the completion of the sale, the insider directly owned 64,570 shares in the company, valued at approximately $5,299,905.60. This represents a 3.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.00% of the company’s stock.
Encore Capital Group Company 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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