Encore Capital Group, Inc. (NASDAQ:ECPG) Shares Acquired by Creative Planning

Creative Planning boosted its position in Encore Capital Group, Inc. (NASDAQ:ECPG) by 27.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,155 shares of the asset manager’s stock after purchasing an additional 1,552 shares during the period. Creative Planning’s holdings in Encore Capital Group were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in ECPG. Marshall Wace LLP grew its stake in Encore Capital Group by 221.1% in the 2nd 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 period. Clearbridge Investments LLC increased its position in shares of Encore Capital Group by 17.8% in 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 last quarter. Ogborne Capital Management LLC bought a new stake in shares of Encore Capital Group in the 1st quarter worth about $2,073,000. Millennium Management LLC grew its position in shares of Encore Capital Group by 60.0% during the 2nd 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 last quarter. Finally, Sei Investments Co. grew its position in shares of Encore Capital Group by 38.4% during the 1st quarter. Sei Investments Co. now owns 64,114 shares of the asset manager’s stock valued at $2,924,000 after buying an additional 17,799 shares during the last quarter.

Encore Capital Group Trading Up 0.3 %

Shares of ECPG stock opened at $49.97 on Friday. Encore Capital Group, Inc. has a 52-week low of $39.64 and a 52-week high of $54.55. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of -6.37 and a beta of 1.56. The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a fifty day moving average of $46.68 and a 200-day moving average of $45.68.

Encore Capital Group (NASDAQ:ECPG) last announced its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.21). The firm had revenue of $367.07 million for the quarter, compared to analyst estimates of $360.70 million. Encore Capital Group had a positive return on equity of 13.00% and a negative net margin of 13.91%. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.79 EPS. On average, equities research analysts forecast that Encore Capital Group, Inc. will post 5.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ECPG has been the subject of a number of research analyst reports. Truist Financial reduced their price target on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a research note on Tuesday, August 20th. Northland Securities upgraded shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $55.00 to $58.00 in a report on Thursday, October 17th. Northland Capmk upgraded shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, JMP Securities upped their price objective on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research note on Thursday. Three analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $62.33.

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.