Encore Capital Group, Inc. (NASDAQ:ECPG) Stake Boosted by Sei Investments Co.

Sei Investments Co. increased its stake in Encore Capital Group, Inc. (NASDAQ:ECPG) by 14.0% during the 2nd quarter, HoldingsChannel reports. The firm owned 73,105 shares of the asset manager’s stock after acquiring an additional 8,991 shares during the period. Sei Investments Co.’s holdings in Encore Capital Group were worth $3,051,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Inspire Investing LLC grew its position in shares of Encore Capital Group by 9.8% during the second quarter. Inspire Investing LLC now owns 8,536 shares of the asset manager’s stock worth $356,000 after acquiring an additional 759 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in Encore Capital Group during the 2nd quarter valued at about $33,000. Texas Permanent School Fund Corp grew its position in Encore Capital Group by 4.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 20,714 shares of the asset manager’s stock worth $864,000 after purchasing an additional 835 shares during the last quarter. Victory Capital Management Inc. grew its position in Encore Capital Group by 8.8% in the 2nd quarter. Victory Capital Management Inc. now owns 4,980 shares of the asset manager’s stock worth $208,000 after purchasing an additional 403 shares during the last quarter. Finally, nVerses Capital LLC increased its stake in shares of Encore Capital Group by 450.0% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock valued at $46,000 after purchasing an additional 900 shares during the period.

Encore Capital Group Stock Performance

ECPG stock opened at $44.79 on Friday. The company has a 50-day simple moving average of $48.20 and a 200 day simple moving average of $45.32. The company has a market capitalization of $1.06 billion, a P/E ratio of -5.21 and a beta of 1.55. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.50. Encore Capital Group, Inc. has a fifty-two week low of $34.74 and a fifty-two week high of $54.55.

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

Insiders Place Their Bets

In other news, SVP Andrew Eric Asch sold 1,251 shares of the business’s 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 of the company’s stock, valued at approximately $903,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.63% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Truist Financial reduced their price objective 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.

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.