Victory Capital Management Inc. Increases Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Victory Capital Management Inc. increased its stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 8.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,980 shares of the asset manager’s stock after buying an additional 403 shares during the period. Victory Capital Management Inc.’s holdings in Encore Capital Group were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC boosted its stake in shares of Encore Capital Group by 77.8% during the 4th quarter. Stephens Investment Management Group LLC now owns 916,922 shares of the asset manager’s stock worth $46,534,000 after acquiring an additional 401,324 shares in the last quarter. UBS Group AG raised its holdings in Encore Capital Group by 200.7% during the fourth quarter. UBS Group AG now owns 280,909 shares of the asset manager’s stock worth $14,256,000 after purchasing an additional 187,495 shares during the last quarter. Norges Bank purchased a new stake in Encore Capital Group during the fourth quarter worth $7,979,000. Wellington Management Group LLP acquired a new stake in Encore Capital Group in the fourth quarter valued at $3,457,000. Finally, Clearbridge Investments LLC increased its position in shares of Encore Capital Group by 17.8% in the first quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager’s stock valued at $18,006,000 after buying an additional 59,624 shares in the last quarter.

Insiders Place Their Bets

In other news, SVP Andrew Eric Asch sold 1,251 shares of the business’s stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $50.00, for a total value of $62,550.00. Following the completion of the transaction, the senior vice president now owns 18,075 shares of the company’s stock, valued at $903,750. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 2.63% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Truist Financial decreased their price objective on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th.

Encore Capital Group Price Performance

ECPG stock opened at $47.05 on Tuesday. The stock’s 50 day moving average price is $48.48 and its 200 day moving average price is $45.38. The firm has a market cap of $1.11 billion, a P/E ratio of -5.48 and a beta of 1.55. The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.27 and a current ratio of 1.27. Encore Capital Group, Inc. has a 1 year low of $34.74 and a 1 year high of $54.55.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data on Wednesday, August 7th. The asset manager reported $1.34 EPS for the quarter, beating analysts’ consensus estimates of $1.24 by $0.10. Encore Capital Group had a positive return on equity of 11.12% and a negative net margin of 15.43%. The business had revenue of $355.29 million for the quarter, compared to analyst estimates of $346.06 million. During the same quarter last year, the company earned $1.08 earnings per share. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year. On average, sell-side analysts expect that Encore Capital Group, Inc. will post 5.56 earnings per share for the current fiscal year.

Encore Capital Group 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.