580 Shares in Encore Capital Group, Inc. (NASDAQ:ECPG) Bought by Meeder Asset Management Inc.

Meeder Asset Management Inc. acquired a new stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 580 shares of the asset manager’s stock, valued at approximately $28,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Encore Capital Group by 4.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 481,497 shares of the asset manager’s stock worth $22,760,000 after acquiring an additional 18,467 shares during the last quarter. Verition Fund Management LLC grew its holdings in shares of Encore Capital Group by 4.3% in the third quarter. Verition Fund Management LLC now owns 8,828 shares of the asset manager’s stock worth $417,000 after purchasing an additional 364 shares during the last quarter. Phase 2 Partners LLC increased its stake in shares of Encore Capital Group by 219.9% in the third quarter. Phase 2 Partners LLC now owns 241,509 shares of the asset manager’s stock worth $11,416,000 after buying an additional 166,014 shares during the period. Petrus Trust Company LTA raised its holdings in Encore Capital Group by 22.8% during the 3rd quarter. Petrus Trust Company LTA now owns 12,789 shares of the asset manager’s stock valued at $605,000 after buying an additional 2,377 shares during the last quarter. Finally, Systematic Financial Management LP purchased a new stake in Encore Capital Group during the 3rd quarter valued at $156,000.

Wall Street Analysts Forecast Growth

ECPG has been the topic of a number of analyst reports. StockNews.com cut shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Friday, February 28th. Truist Financial lowered their price target on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, Northland Securities lifted their price objective on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $62.67.

Insider Buying and Selling at Encore Capital Group

In other Encore Capital Group news, Director Ashwini Gupta acquired 40,000 shares of the business’s stock in a transaction on Wednesday, March 5th. The shares were acquired at an average price of $35.10 per share, for a total transaction of $1,404,000.00. Following the completion of the acquisition, the director now owns 96,909 shares in the company, valued at $3,401,505.90. This trade represents a 70.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ashish Masih bought 20,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $35.14 per share, with a total value of $702,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 322,254 shares of the company’s stock, valued at approximately $11,324,005.56. The trade was a 6.62 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.63% of the company’s stock.

Encore Capital Group Price Performance

ECPG stock opened at $35.59 on Thursday. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. Encore Capital Group, Inc. has a 1 year low of $31.54 and a 1 year high of $51.77. The firm has a 50-day moving average of $42.40 and a 200 day moving average of $45.73. The company has a market cap of $843.16 million, a P/E ratio of -4.53 and a beta of 1.73.

Encore Capital Group (NASDAQ:ECPG) last announced its earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.05). The firm had revenue of $265.62 million during the quarter, compared to the consensus estimate of $373.40 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. On average, sell-side analysts forecast that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Encore Capital Group 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.