Encore Capital Group, Inc. (NASDAQ:ECPG) Receives Consensus Recommendation of “Buy” from Brokerages

Shares of Encore Capital Group, Inc. (NASDAQ:ECPG) have earned an average rating of “Buy” from the four research firms that are covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $65.00.

A number of equities research analysts have weighed in on the company. StockNews.com raised Encore Capital Group from a “hold” rating to a “buy” rating in a report on Friday, November 29th. JMP Securities lifted their price objective on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Finally, Northland Securities lifted their price objective on Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a report on Monday, December 23rd.

Insider Activity

In other news, Director Laura Olle sold 1,340 shares of Encore Capital Group stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $49.16, for a total value of $65,874.40. Following the completion of the transaction, the director now owns 32,381 shares in the company, valued at approximately $1,591,849.96. The trade was a 3.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Jane Street Group LLC raised its stake in shares of Encore Capital Group by 191.7% in the third quarter. Jane Street Group LLC now owns 49,719 shares of the asset manager’s stock valued at $2,350,000 after acquiring an additional 32,672 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Encore Capital Group in the third quarter valued at approximately $695,000. Connor Clark & Lunn Investment Management Ltd. raised its position in Encore Capital Group by 177.0% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 22,550 shares of the asset manager’s stock worth $1,066,000 after purchasing an additional 14,409 shares during the last quarter. Wellington Management Group LLP raised its position in Encore Capital Group by 16.0% in the 3rd quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock worth $35,752,000 after purchasing an additional 104,509 shares during the last quarter. Finally, Intech Investment Management LLC bought a new position in Encore Capital Group in the 3rd quarter worth approximately $409,000.

Encore Capital Group Stock Down 2.4 %

ECPG stock opened at $48.54 on Thursday. Encore Capital Group has a twelve month low of $39.64 and a twelve month high of $51.77. The company has a market cap of $1.15 billion, a PE ratio of -6.18 and a beta of 1.55. The business’s 50-day simple moving average is $48.64 and its 200 day simple moving average is $48.08. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39.

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.