Encore Capital Group (NASDAQ:ECPG) Stock Passes Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Encore Capital Group Inc (NASDAQ:ECPG) crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $53.14 and traded as high as $71.52. Encore Capital Group shares last traded at $70.70, with a volume of 228,962 shares traded.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ECPG shares. Truist Financial lifted their price target on shares of Encore Capital Group from $59.00 to $80.00 and gave the stock a “buy” rating in a research note on Thursday, February 26th. Citigroup reissued an “outperform” rating on shares of Encore Capital Group in a research report on Tuesday, January 20th. Citizens Jmp lifted their price objective on shares of Encore Capital Group from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Thursday, February 26th. Northland Securities set a $70.00 target price on shares of Encore Capital Group in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Friday, February 27th. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $75.50.

Encore Capital Group Price Performance

The company has a market cap of $1.51 billion, a price-to-earnings ratio of 6.45 and a beta of 1.35. The company’s 50 day moving average price is $61.90 and its 200 day moving average price is $53.14. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 4.10.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings results on Wednesday, February 25th. The asset manager reported $3.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.20 by $1.17. The firm had revenue of $473.55 million during the quarter, compared to analysts’ expectations of $423.14 million. Encore Capital Group had a net margin of 14.52% and a return on equity of 28.19%. The firm’s revenue for the quarter was up 78.3% on a year-over-year basis. During the same period in the prior year, the company posted ($9.42) earnings per share. Equities research analysts forecast that Encore Capital Group Inc will post 5.09 earnings per share for the current year.

Insider Activity

In other news, insider Ryan B. Bell sold 7,240 shares of the stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $69.04, for a total transaction of $499,849.60. Following the completion of the transaction, the insider directly owned 48,170 shares of the company’s stock, valued at approximately $3,325,656.80. This represents a 13.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.54% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC lifted its holdings in Encore Capital Group by 78.0% in the fourth quarter. AQR Capital Management LLC now owns 412,498 shares of the asset manager’s stock valued at $22,419,000 after acquiring an additional 180,733 shares during the period. Hillsdale Investment Management Inc. purchased a new position in shares of Encore Capital Group in the 4th quarter valued at about $7,453,000. Jane Street Group LLC increased its holdings in shares of Encore Capital Group by 488.1% in the 4th quarter. Jane Street Group LLC now owns 154,128 shares of the asset manager’s stock valued at $8,377,000 after purchasing an additional 127,920 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Encore Capital Group by 379.7% in the third quarter. First Trust Advisors LP now owns 98,817 shares of the asset manager’s stock valued at $4,125,000 after purchasing an additional 78,217 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Encore Capital Group by 476.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 92,978 shares of the asset manager’s stock worth $3,599,000 after buying an additional 76,852 shares in 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.