Encore Capital Group, Inc. (NASDAQ:ECPG) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 1.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,323 shares of the asset manager’s stock after selling 963 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.23% of Encore Capital Group worth $2,615,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Huntington National Bank increased its stake in Encore Capital Group by 8,700.0% during the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 522 shares in the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Encore Capital Group during the second quarter valued at $33,000. nVerses Capital LLC increased its position 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 acquiring an additional 900 shares during the period. KBC Group NV raised its stake in Encore Capital Group by 54.9% in the 3rd quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock worth $65,000 after acquiring an additional 484 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in Encore Capital Group during the 2nd quarter worth about $60,000.

Insiders Place Their Bets

In other Encore Capital Group news, Director Laura Olle sold 1,340 shares of the firm’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total value of $65,874.40. Following the sale, the director now directly owns 32,381 shares of the company’s stock, valued at approximately $1,591,849.96. This trade represents a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.63% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ECPG shares. Truist Financial cut their price objective on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. StockNews.com upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating in a report on Friday, November 29th. JMP Securities lifted their price objective on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Northland Capmk upgraded shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Northland Securities upgraded shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and boosted their target price for the company from $55.00 to $58.00 in a research report on Thursday, October 17th. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Encore Capital Group presently has a consensus rating of “Buy” and a consensus target price of $62.33.

Encore Capital Group Trading Up 0.3 %

Shares of NASDAQ:ECPG opened at $49.23 on Friday. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. Encore Capital Group, Inc. has a 12-month low of $39.64 and a 12-month high of $54.55. The business has a 50 day moving average of $47.57 and a two-hundred day moving average of $46.55. The company has a market capitalization of $1.17 billion, a PE ratio of -6.27 and a beta of 1.55.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.22). The firm had revenue of $367.07 million during the quarter, compared to analyst estimates of $360.70 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The business’s revenue for the quarter was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 earnings per share. As a group, analysts forecast that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Encore Capital Group Company 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.