Amundi Raises Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Amundi lifted its position in Encore Capital Group, Inc. (NASDAQ:ECPG) by 168.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,493 shares of the asset manager’s stock after acquiring an additional 7,205 shares during the period. Amundi’s holdings in Encore Capital Group were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Jane Street Group LLC grew its position in Encore Capital Group by 191.7% during the 3rd quarter. Jane Street Group LLC now owns 49,719 shares of the asset manager’s stock worth $2,350,000 after purchasing an additional 32,672 shares during the period. Sigma Planning Corp lifted its stake in Encore Capital Group by 317.0% in the 4th quarter. Sigma Planning Corp now owns 13,080 shares of the asset manager’s stock valued at $625,000 after buying an additional 9,943 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Encore Capital Group by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,042 shares of the asset manager’s stock valued at $24,460,000 after buying an additional 30,545 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Encore Capital Group in the 3rd quarter valued at about $695,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 in the last quarter.

Insider Buying and Selling

In other Encore Capital Group news, Director Ashwini Gupta bought 40,000 shares of Encore Capital Group stock in a transaction that occurred 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 acquisition, the director now owns 96,909 shares of the company’s stock, valued at $3,401,505.90. The trade was a 70.29 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ashish Masih bought 20,000 shares of Encore Capital Group stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $35.14 per share, for a total transaction of $702,800.00. Following the acquisition, the chief executive officer now directly owns 322,254 shares in the company, valued at approximately $11,324,005.56. This represents a 6.62 % increase in their position. The disclosure for this purchase can be found here. 2.63% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

Encore Capital Group Trading Up 1.8 %

Shares of Encore Capital Group stock opened at $34.51 on Friday. Encore Capital Group, Inc. has a 12-month low of $31.54 and a 12-month high of $51.77. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The stock has a market cap of $817.58 million, a PE ratio of -4.40 and a beta of 1.73. The company has a 50-day moving average of $44.69 and a two-hundred day moving average of $46.50.

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 analysts’ consensus estimates of $1.55 by ($0.05). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The firm had revenue of $265.62 million for the quarter, compared to analyst estimates of $373.40 million. On average, research analysts anticipate that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

About Encore Capital Group

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.