Creative Planning Has $338,000 Stock Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Creative Planning boosted its stake in Encore Capital Group, Inc. (NASDAQ:ECPG) by 27.7% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,155 shares of the asset manager’s stock after purchasing an additional 1,552 shares during the quarter. Creative Planning’s holdings in Encore Capital Group were worth $338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Clearbridge Investments LLC grew its holdings in shares of Encore Capital Group by 17.8% during the first quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager’s stock worth $18,006,000 after purchasing an additional 59,624 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Encore Capital Group by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 182,117 shares of the asset manager’s stock worth $7,600,000 after purchasing an additional 1,650 shares during the period. Marshall Wace LLP raised its position in shares of Encore Capital Group by 221.1% during the second quarter. Marshall Wace LLP now owns 130,127 shares of the asset manager’s stock worth $5,430,000 after purchasing an additional 89,596 shares during the period. Millennium Management LLC raised its position in shares of Encore Capital Group by 60.0% during the second quarter. Millennium Management LLC now owns 80,170 shares of the asset manager’s stock worth $3,345,000 after purchasing an additional 30,052 shares during the period. Finally, Sei Investments Co. grew its holdings in Encore Capital Group by 14.0% during the second quarter. Sei Investments Co. now owns 73,105 shares of the asset manager’s stock worth $3,051,000 after buying an additional 8,991 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ECPG. Northland Securities upgraded Encore Capital Group from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $55.00 to $58.00 in a research note on Thursday, October 17th. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. JMP Securities raised their price target on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Thursday. Finally, Truist Financial reduced their price objective on 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. Three investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Encore Capital Group currently has a consensus rating of “Buy” and an average target price of $62.33.

Encore Capital Group Trading Up 0.3 %

Shares of ECPG stock opened at $49.97 on Friday. The company has a market cap of $1.18 billion, a PE ratio of -6.37 and a beta of 1.56. The stock’s 50 day simple moving average is $46.68 and its two-hundred day simple moving average is $45.68. Encore Capital Group, Inc. has a 1 year low of $39.64 and a 1 year high of $54.55. The company has a debt-to-equity ratio of 3.50, a current ratio of 1.27 and a quick ratio of 1.27.

Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.47 by ($0.21). The business had revenue of $367.07 million during the quarter, compared to analyst estimates of $360.70 million. Encore Capital Group had a positive return on equity of 13.00% and a negative net margin of 13.91%. The firm’s revenue for the quarter was up 18.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.79 EPS. Research analysts predict that Encore Capital Group, Inc. will post 5.56 earnings per share for the current 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.