Versor Investments LP Buys Shares of 4,700 Encore Capital Group, Inc. (NASDAQ:ECPG)

Versor Investments LP purchased a new position in Encore Capital Group, Inc. (NASDAQ:ECPG) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 4,700 shares of the asset manager’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also modified their holdings of ECPG. Meeder Asset Management Inc. acquired a new position in Encore Capital Group in the 2nd quarter worth about $33,000. nVerses Capital LLC increased its holdings in Encore Capital Group by 450.0% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock worth $46,000 after buying an additional 900 shares during the last quarter. Innealta Capital LLC bought a new position in Encore Capital Group during the second quarter valued at approximately $60,000. EntryPoint Capital LLC acquired a new stake in Encore Capital Group in the first quarter valued at approximately $138,000. Finally, Victory Capital Management Inc. grew its position in Encore Capital Group by 8.8% in the second quarter. Victory Capital Management Inc. now owns 4,980 shares of the asset manager’s stock worth $208,000 after acquiring an additional 403 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. JMP Securities raised their price target on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $58.00 in a research report on Thursday, October 17th. StockNews.com upgraded Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Northland Capmk upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Finally, Truist Financial decreased their target price 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. Four equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $62.33.

Encore Capital Group Stock Up 1.7 %

ECPG stock opened at $49.22 on Friday. The stock has a market capitalization of $1.17 billion, a price-to-earnings ratio of -6.27 and a beta of 1.56. The company has a 50-day moving average of $46.76 and a two-hundred day moving average of $45.96. Encore Capital Group, Inc. has a 52-week low of $39.64 and a 52-week high of $54.55. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.22). The business 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 12.70% and a negative net margin of 13.91%. Encore Capital Group’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. As a group, equities research analysts anticipate that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Encore Capital Group Company 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.