Encore Capital Group (NASDAQ:ECPG) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Encore Capital Group Inc (NASDAQ:ECPG)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $46.46 and traded as high as $55.38. Encore Capital Group shares last traded at $55.33, with a volume of 77,029 shares.

Analyst Ratings Changes

ECPG has been the topic of a number of recent research reports. Janney Montgomery Scott raised their price objective on shares of Encore Capital Group from $56.00 to $62.00 and gave the company a “buy” rating in a research note on Thursday, November 6th. Wall Street Zen cut Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Sunday, November 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Encore Capital Group in a research note on Wednesday, January 21st. Zacks Research cut Encore Capital Group from a “strong-buy” rating to a “hold” rating in a report on Monday, January 5th. Finally, Northland Securities set a $70.00 target price on Encore Capital Group in a research report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.00.

Encore Capital Group Stock Performance

The company has a debt-to-equity ratio of 4.13, a current ratio of 0.66 and a quick ratio of 0.66. The company has a market cap of $1.23 billion, a price-to-earnings ratio of -30.23 and a beta of 1.45. The stock has a 50-day moving average price of $54.18 and a 200 day moving average price of $46.46.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, November 5th. The asset manager reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.92 by $1.25. Encore Capital Group had a positive return on equity of 25.27% and a negative net margin of 2.89%.The business had revenue of $460.35 million during the quarter, compared to analysts’ expectations of $410.70 million. During the same period in the prior year, the business earned $1.26 EPS. Encore Capital Group’s revenue for the quarter was up 25.4% compared to the same quarter last year. As a group, analysts anticipate that Encore Capital Group Inc will post 5.09 EPS for the current fiscal year.

Insider Activity at Encore Capital Group

In other Encore Capital Group news, insider Ryan B. Bell sold 2,500 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $55.00, for a total transaction of $137,500.00. Following the completion of the transaction, the insider owned 55,410 shares in the company, valued at approximately $3,047,550. This represents a 4.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Yung sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $52.00, for a total value of $52,000.00. Following the completion of the sale, the insider owned 56,609 shares in the company, valued at approximately $2,943,668. This trade represents a 1.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 4,923 shares of company stock valued at $264,620. 2.63% of the stock is owned by corporate insiders.

Institutional Trading of Encore Capital Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nisa Investment Advisors LLC acquired a new position in Encore Capital Group during the second quarter worth $27,000. GAMMA Investing LLC lifted its position in Encore Capital Group by 345.1% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the asset manager’s stock worth $32,000 after buying an additional 635 shares in the last quarter. LSV Asset Management acquired a new position in shares of Encore Capital Group during the 3rd quarter worth about $88,000. Tower Research Capital LLC TRC grew its holdings in shares of Encore Capital Group by 168.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,716 shares of the asset manager’s stock valued at $105,000 after acquiring an additional 1,706 shares in the last quarter. Finally, AlphaQuest LLC increased its position in shares of Encore Capital Group by 83.4% in the second quarter. AlphaQuest LLC now owns 3,632 shares of the asset manager’s stock valued at $141,000 after acquiring an additional 1,652 shares during the last quarter.

About Encore Capital Group

Encore Capital Group, Inc is a global specialty finance company that focuses on the purchase and management of nonperforming consumer receivables. Through its subsidiaries, the company acquires charged-off debt portfolios from credit card issuers, banks, and other financial institutions, and seeks to recover outstanding balances through a combination of customer outreach, payment arrangements, and, where appropriate, legal collection efforts. Encore’s business model emphasizes compliance with regulatory and industry standards to ensure ethical and transparent debt-recovery practices.

Headquartered in San Diego, California, Encore operates across North America and Europe.