Encore Capital Group (NASDAQ:ECPG) Receives Market Outperform Rating from JMP Securities

JMP Securities reiterated their market outperform rating on shares of Encore Capital Group (NASDAQ:ECPG) in a research note issued to investors on Wednesday, Benzinga reports. JMP Securities currently has a $60.00 target price on the asset manager’s stock.

Separately, TheStreet downgraded shares of Encore Capital Group from a c- rating to a d+ rating in a report on Monday, March 18th.

Encore Capital Group Price Performance

NASDAQ:ECPG opened at $41.22 on Wednesday. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a 50-day moving average price of $47.12 and a two-hundred day moving average price of $46.99. Encore Capital Group has a twelve month low of $34.74 and a twelve month high of $54.73.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, February 21st. The asset manager reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.22 by $0.03. Encore Capital Group had a negative net margin of 16.89% and a positive return on equity of 9.46%. The firm had revenue of $277.39 million during the quarter, compared to the consensus estimate of $330.77 million. Analysts expect that Encore Capital Group will post 5.93 earnings per share for the current fiscal year.

Insider Transactions at Encore Capital Group

In other news, insider Ryan B. Bell sold 5,500 shares of Encore Capital Group stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $50.00, for a total transaction of $275,000.00. Following the completion of the sale, the insider now directly owns 42,404 shares in the company, valued at $2,120,200. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Encore Capital Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Creative Planning purchased a new stake in Encore Capital Group in the third quarter valued at approximately $34,000. UBS Group AG grew its holdings in Encore Capital Group by 102.4% in the first quarter. UBS Group AG now owns 960 shares of the asset manager’s stock valued at $48,000 after purchasing an additional 40,480 shares during the period. Assetmark Inc. grew its holdings in Encore Capital Group by 19.4% in the fourth quarter. Assetmark Inc. now owns 1,422 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 231 shares during the period. Royal Bank of Canada grew its holdings in Encore Capital Group by 9.6% in the third quarter. Royal Bank of Canada now owns 2,423 shares of the asset manager’s stock valued at $110,000 after purchasing an additional 213 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new stake in Encore Capital Group in the fourth quarter valued at approximately $206,000.

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.