Meeder Asset Management Inc. Buys New Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Meeder Asset Management Inc. purchased a new position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 780 shares of the asset manager’s stock, valued at approximately $33,000.

Several other hedge funds also recently made changes to their positions in the business. Stephens Investment Management Group LLC boosted its holdings in Encore Capital Group by 77.8% during the fourth quarter. Stephens Investment Management Group LLC now owns 916,922 shares of the asset manager’s stock worth $46,534,000 after purchasing an additional 401,324 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Encore Capital Group by 9.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 412,098 shares of the asset manager’s stock worth $20,914,000 after buying an additional 36,371 shares in the last quarter. Clearbridge Investments LLC boosted its stake in shares of Encore Capital Group by 17.8% during the 1st quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager’s stock worth $18,006,000 after buying an additional 59,624 shares during the last quarter. UBS Group AG grew its holdings in shares of Encore Capital Group by 200.7% in the 4th quarter. UBS Group AG now owns 280,909 shares of the asset manager’s stock valued at $14,256,000 after acquiring an additional 187,495 shares in the last quarter. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Encore Capital Group by 2.3% in the 4th quarter. Bridgeway Capital Management LLC now owns 275,564 shares of the asset manager’s stock valued at $13,985,000 after acquiring an additional 6,144 shares in the last quarter.

Encore Capital Group Stock Performance

Shares of ECPG stock opened at $48.18 on Monday. The company has a fifty day moving average price of $47.91 and a two-hundred day moving average price of $45.38. Encore Capital Group, Inc. has a one year low of $34.74 and a one year high of $54.55. The stock has a market cap of $1.14 billion, a P/E ratio of -5.62 and a beta of 1.55. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.27 and a quick ratio of 1.27.

Encore Capital Group (NASDAQ:ECPG) last issued its earnings results on Wednesday, August 7th. The asset manager reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.24 by $0.10. The business had revenue of $355.29 million during the quarter, compared to the consensus estimate of $346.06 million. Encore Capital Group had a negative net margin of 15.43% and a positive return on equity of 11.12%. Encore Capital Group’s revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted $1.08 EPS. As a group, equities analysts predict that Encore Capital Group, Inc. will post 5.56 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Truist Financial reduced their price target 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.

Insider Transactions at Encore Capital Group

In related news, SVP Andrew Eric Asch sold 1,251 shares of the stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $50.00, for a total value of $62,550.00. Following the sale, the senior vice president now owns 18,075 shares in the company, valued at approximately $903,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.63% of the stock is currently owned by corporate insiders.

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.