Short Interest in Encore Capital Group, Inc. (NASDAQ:ECPG) Rises By 8.9%

Encore Capital Group, Inc. (NASDAQ:ECPG) saw a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,590,000 shares, an increase of 8.9% from the November 30th total of 1,460,000 shares. Currently, 6.9% of the shares of the company are sold short. Based on an average daily volume of 147,600 shares, the days-to-cover ratio is presently 10.8 days.

Encore Capital Group Price Performance

NASDAQ:ECPG opened at $47.77 on Thursday. The firm has a market cap of $1.13 billion, a PE ratio of -6.09 and a beta of 1.55. Encore Capital Group has a 12 month low of $39.64 and a 12 month high of $54.55. 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 company’s 50-day moving average price is $48.18 and its two-hundred day moving average price is $47.00.

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

Insider Transactions at Encore Capital Group

In other news, Director Laura Olle sold 1,340 shares of Encore Capital Group stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $49.16, for a total transaction of $65,874.40. Following the sale, the director now directly owns 32,381 shares in the company, valued at approximately $1,591,849.96. The trade was a 3.97 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Encore Capital Group

A number of institutional investors have recently modified their holdings of the stock. Stephens Investment Management Group LLC raised its stake in shares of Encore Capital Group by 0.5% in the third quarter. Stephens Investment Management Group LLC now owns 1,137,752 shares of the asset manager’s stock worth $53,782,000 after acquiring an additional 5,373 shares during the last quarter. State Street Corp raised its stake in shares of Encore Capital Group by 0.3% in the third quarter. State Street Corp now owns 900,677 shares of the asset manager’s stock worth $42,575,000 after acquiring an additional 2,597 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Encore Capital Group by 16.0% in the third quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock worth $35,752,000 after acquiring an additional 104,509 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Encore Capital Group by 2.5% during the third quarter. Geode Capital Management LLC now owns 570,047 shares of the asset manager’s stock worth $26,952,000 after buying an additional 13,648 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Encore Capital Group by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 481,497 shares of the asset manager’s stock worth $22,760,000 after buying an additional 18,467 shares during the last quarter.

Wall Street Analyst Weigh In

ECPG has been the topic of several recent research reports. StockNews.com upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research report on Friday, November 29th. Northland Capmk upgraded shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Northland Securities lifted their target price on shares of Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Finally, JMP Securities lifted their target price on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Encore Capital Group has a consensus rating of “Buy” and an average price target of $65.00.

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.