Wedge Capital Management L L P NC Has $603,000 Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Wedge Capital Management L L P NC lessened its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 9.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 12,766 shares of the asset manager’s stock after selling 1,407 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Encore Capital Group were worth $603,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in ECPG. Marshall Wace LLP grew its stake in shares of Encore Capital Group by 221.1% in the second quarter. Marshall Wace LLP now owns 130,127 shares of the asset manager’s stock worth $5,430,000 after acquiring an additional 89,596 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Encore Capital Group in the 4th quarter worth $3,457,000. Clearbridge Investments LLC increased its holdings in shares of Encore Capital Group by 17.8% during the 1st quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager’s stock worth $18,006,000 after purchasing an additional 59,624 shares during the period. Ogborne Capital Management LLC acquired a new position in shares of Encore Capital Group during the first quarter valued at about $2,073,000. Finally, Millennium Management LLC lifted its stake in shares of Encore Capital Group by 60.0% in the second quarter. Millennium Management LLC now owns 80,170 shares of the asset manager’s stock valued at $3,345,000 after buying an additional 30,052 shares during the period.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Truist Financial lowered their price target on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. JMP Securities restated a “market outperform” rating and set a $60.00 price objective on shares of Encore Capital Group in a research report on Monday. Finally, Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $55.00 to $58.00 in a research report on Thursday.

Encore Capital Group Stock Performance

NASDAQ:ECPG opened at $47.52 on Friday. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.50. The firm has a 50-day moving average price of $47.47 and a 200 day moving average price of $45.27. The firm has a market capitalization of $1.13 billion, a PE ratio of -5.54 and a beta of 1.55. Encore Capital Group, Inc. has a 12-month low of $34.74 and a 12-month high of $54.55.

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

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.