Encore Capital Group Inc. (ECPG) Sees Strong Trading Volume
Encore Capital Group Inc. (NASDAQ:ECPG) shares saw unusually-strong trading volume on Tuesday . Approximately 333,194 shares were traded during mid-day trading, an increase of 43% from the previous session’s volume of 233,231 shares.The stock last traded at $21.59 and had previously closed at $22.55.
A number of analysts have recently weighed in on ECPG shares. Northland Securities cut Encore Capital Group from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $37.00 to $21.00 in a research report on Friday, August 5th. Zacks Investment Research raised Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, May 27th. JMP Securities reissued a “buy” rating on shares of Encore Capital Group in a research report on Wednesday, June 8th. Finally, Citigroup Inc. cut Encore Capital Group from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $31.00 to $24.00 in a research report on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Encore Capital Group presently has an average rating of “Hold” and a consensus target price of $32.60.
The stock has a market capitalization of $548.81 million, a P/E ratio of 12.91 and a beta of 1.51. The stock has a 50-day moving average price of $21.88 and a 200 day moving average price of $24.51.
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Encore Capital Group (NASDAQ:ECPG) last announced its earnings results on Thursday, August 4th. The company reported $1.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.08. The company had revenue of $289 million for the quarter, compared to analyst estimates of $296.97 million. Encore Capital Group had a return on equity of 21.89% and a net margin of 3.72%. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.21 earnings per share. Equities research analysts forecast that Encore Capital Group Inc. will post $5.02 earnings per share for the current fiscal year.
In other news, Director Willem Mesdag bought 25,000 shares of the business’s stock in a transaction on Monday, August 8th. The shares were bought at an average price of $20.85 per share, with a total value of $521,250.00. Following the completion of the transaction, the director now directly owns 36,278 shares in the company, valued at $756,396.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.69% of the stock is owned by company insiders.
Hedge funds have recently made changes to their positions in the stock. Mason Street Advisors LLC bought a new stake in Encore Capital Group during the second quarter worth $109,000. BlackRock Inc. raised its stake in Encore Capital Group by 243.3% in the second quarter. BlackRock Inc. now owns 6,673 shares of the company’s stock worth $157,000 after buying an additional 4,729 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Encore Capital Group by 138.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the company’s stock worth $177,000 after buying an additional 4,360 shares in the last quarter. Envestnet Asset Management Inc. raised its stake in Encore Capital Group by 117.3% in the first quarter. Envestnet Asset Management Inc. now owns 8,217 shares of the company’s stock worth $212,000 after buying an additional 4,436 shares in the last quarter. Finally, Intrust Bank NA bought a new stake in Encore Capital Group during the second quarter worth $240,000.
Encore Capital Group Company Profile
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through two segments: Portfolio Purchasing and Recovery, and Tax Lien Business. Its portfolio purchasing and recovery segment purchases portfolios of defaulted consumer receivables at discounts and manages them by partnering with individuals as they repay their obligations and work toward financial recovery.
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