Ieq Capital LLC purchased a new stake in Encore Capital Group Inc (NASDAQ:ECPG – Free Report) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 59,694 shares of the asset manager’s stock, valued at approximately $5,569,000.
Other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its stake in Encore Capital Group by 380.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 56,105 shares of the asset manager’s stock valued at $5,234,000 after purchasing an additional 44,429 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Encore Capital Group during the fourth quarter valued at $7,453,000. Wakefield Asset Management LLLP purchased a new position in shares of Encore Capital Group during the fourth quarter valued at $1,234,000. Renaissance Technologies LLC raised its position in Encore Capital Group by 195.7% during the first quarter. Renaissance Technologies LLC now owns 20,700 shares of the asset manager’s stock valued at $1,451,000 after buying an additional 13,700 shares during the period. Finally, CWM LLC raised its position in Encore Capital Group by 99.6% during the fourth quarter. CWM LLC now owns 25,045 shares of the asset manager’s stock valued at $1,361,000 after buying an additional 12,499 shares during the period.
Encore Capital Group Price Performance
ECPG stock opened at $101.21 on Monday. The firm has a market cap of $2.15 billion, a PE ratio of 7.66 and a beta of 1.27. Encore Capital Group Inc has a 1 year low of $39.94 and a 1 year high of $104.98. The company has a fifty day simple moving average of $92.20 and a 200 day simple moving average of $79.77. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 3.87.
Insider Buying and Selling
In related 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 3.00% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on ECPG shares. Zacks Research upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 7th. Citigroup restated a “market outperform” rating on shares of Encore Capital Group in a report on Tuesday, August 11th. Truist Financial boosted their price objective on shares of Encore Capital Group from $105.00 to $112.00 and gave the company a “buy” rating in a research report on Thursday, August 6th. Citizens Jmp upped 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 note on Wednesday, June 17th. Finally, Wall Street Zen downgraded shares of Encore Capital Group from a “strong-buy” rating to a “hold” rating in a research report on Saturday, May 9th. One research analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, Encore Capital Group presently has a consensus rating of “Buy” and an average target price of $89.75.
View Our Latest Report on ECPG
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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