Barclays PLC Purchases 36,822 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

Barclays PLC boosted its position in Encore Capital Group, Inc. (NASDAQ:ECPG) by 22.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 197,903 shares of the asset manager’s stock after acquiring an additional 36,822 shares during the period. Barclays PLC owned 0.84% of Encore Capital Group worth $9,355,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ECPG. Huntington National Bank grew its stake in shares of Encore Capital Group by 8,700.0% in the third quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock worth $25,000 after purchasing an additional 522 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Encore Capital Group in the 2nd quarter worth approximately $33,000. nVerses Capital LLC increased its stake in shares of Encore Capital Group by 450.0% during the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock valued at $46,000 after buying an additional 900 shares during the period. KBC Group NV raised its holdings in shares of Encore Capital Group by 54.9% during the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock valued at $65,000 after acquiring an additional 484 shares in the last quarter. Finally, Innealta Capital LLC purchased a new stake in Encore Capital Group in the second quarter worth $60,000.

Insider Activity at Encore Capital Group

In related news, Director Laura Olle sold 1,340 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total value of $65,874.40. Following the transaction, the director now directly owns 32,381 shares of the company’s stock, valued at approximately $1,591,849.96. This represents a 3.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 2.63% of the stock is currently owned by insiders.

Encore Capital Group Stock Performance

Shares of ECPG opened at $49.04 on Wednesday. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The stock has a market cap of $1.16 billion, a P/E ratio of -6.25 and a beta of 1.55. The business’s 50 day moving average price is $47.76 and its 200-day moving average price is $46.65. Encore Capital Group, Inc. has a 52 week low of $39.64 and a 52 week high of $54.55.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, November 6th. The asset manager reported $1.26 EPS for the quarter, missing the consensus estimate of $1.48 by ($0.22). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company had revenue of $367.07 million during the quarter, compared to the consensus estimate of $360.70 million. During the same period last year, the firm posted $0.79 earnings per share. The company’s revenue was up 18.6% compared to the same quarter last year. Equities research analysts anticipate that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on ECPG shares. StockNews.com upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating in a report on Friday, November 29th. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Truist Financial decreased their target price on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Northland Securities upgraded Encore Capital Group from a “market perform” rating to an “outperform” rating and raised their target price for the company from $55.00 to $58.00 in a research note on Thursday, October 17th. Finally, JMP Securities upped their price target on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $62.33.

Encore Capital Group Company Profile

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across 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.