Public Sector Pension Investment Board Boosts Stake in Encore Capital Group, Inc. (NASDAQ:ECPG)

Public Sector Pension Investment Board raised its position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 6.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,131 shares of the asset manager’s stock after buying an additional 3,298 shares during the quarter. Public Sector Pension Investment Board owned about 0.22% of Encore Capital Group worth $2,175,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in ECPG. Stephens Investment Management Group LLC lifted its holdings in shares of Encore Capital Group by 77.8% in the 4th quarter. Stephens Investment Management Group LLC now owns 916,922 shares of the asset manager’s stock valued at $46,534,000 after acquiring an additional 401,324 shares during the last quarter. Norges Bank purchased a new position in shares of Encore Capital Group in the 4th quarter worth approximately $7,979,000. Wellington Management Group LLP bought a new position in shares of Encore Capital Group during the 4th quarter valued at approximately $3,457,000. Clearbridge Investments LLC raised its holdings in Encore Capital Group by 17.8% during the 1st quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager’s stock valued at $18,006,000 after buying an additional 59,624 shares during the period. Finally, Ogborne Capital Management LLC bought a new stake in Encore Capital Group in the first quarter worth $2,073,000.

Encore Capital Group Stock Down 0.4 %

Shares of NASDAQ:ECPG opened at $47.08 on Monday. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.27 and a quick ratio of 1.27. The business has a 50 day simple moving average of $48.35 and a two-hundred day simple moving average of $45.32. Encore Capital Group, Inc. has a 1 year low of $34.74 and a 1 year high of $54.55. The firm has a market capitalization of $1.12 billion, a PE ratio of -5.49 and a beta of 1.55.

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

Wall Street Analyst Weigh In

Separately, Truist Financial cut their price objective on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th.

Insider Buying and Selling

In other Encore Capital Group news, SVP Andrew Eric Asch sold 1,251 shares of the business’s stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $50.00, for a total value of $62,550.00. Following the completion of the sale, the senior vice president now directly owns 18,075 shares of the company’s stock, valued at approximately $903,750. The transaction was disclosed in a filing with the SEC, which is available through this link. 2.63% of the stock is currently owned by 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.