Marshall Wace LLP Has $5.43 Million Holdings in Encore Capital Group, Inc. (NASDAQ:ECPG)

Marshall Wace LLP boosted its stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 221.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 130,127 shares of the asset manager’s stock after purchasing an additional 89,596 shares during the quarter. Marshall Wace LLP owned 0.55% of Encore Capital Group worth $5,430,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. acquired a new position in Encore Capital Group during the 2nd quarter valued at $33,000. nVerses Capital LLC raised its stake in shares of Encore Capital Group by 450.0% in the 2nd quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock valued at $46,000 after buying an additional 900 shares in the last quarter. Innealta Capital LLC acquired a new position in shares of Encore Capital Group in the 2nd quarter valued at $60,000. EntryPoint Capital LLC acquired a new position in shares of Encore Capital Group in the 1st quarter valued at $138,000. Finally, ProShare Advisors LLC raised its stake in shares of Encore Capital Group by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 4,692 shares of the asset manager’s stock valued at $214,000 after buying an additional 323 shares in the last quarter.

Encore Capital Group Trading Down 2.5 %

Shares of ECPG stock opened at $46.09 on Wednesday. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of -5.37 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. The firm has a fifty day moving average of $48.27 and a 200-day moving average of $45.32. Encore Capital Group, Inc. has a 52-week low of $34.74 and a 52-week high of $54.55.

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

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, SVP Andrew Eric Asch sold 1,251 shares of the stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $50.00, for a total transaction of $62,550.00. Following the completion of the sale, the senior vice president now owns 18,075 shares in the company, valued at approximately $903,750. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.63% of the stock is currently owned by corporate insiders.

About Encore Capital Group

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.