Encore Capital Group, Inc. (NASDAQ:ECPG) Sees Significant Drop in Short Interest

Encore Capital Group, Inc. (NASDAQ:ECPG) was the recipient of a large decline in short interest during the month of January. As of January 31st, there was short interest totalling 1,410,000 shares, a decline of 6.0% from the January 15th total of 1,500,000 shares. Currently, 6.1% of the company’s shares are short sold. Based on an average daily volume of 146,300 shares, the days-to-cover ratio is presently 9.6 days.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ECPG shares. JMP Securities boosted their target price on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research report on Thursday, November 7th. Northland Securities boosted their target price on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, StockNews.com upgraded Encore Capital Group from a “hold” rating to a “buy” rating in a research report on Friday, November 29th. Four equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Encore Capital Group has an average rating of “Buy” and a consensus target price of $65.00.

Encore Capital Group Price Performance

Shares of ECPG opened at $51.25 on Thursday. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50 day simple moving average of $48.64 and a 200 day simple moving average of $48.01. Encore Capital Group has a 52-week low of $39.64 and a 52-week high of $53.72. The firm has a market capitalization of $1.21 billion, a PE ratio of -6.53 and a beta of 1.55.

Insiders Place Their Bets

In other news, Director Laura Olle sold 1,340 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total transaction of $65,874.40. Following the completion of the transaction, the director now directly owns 32,381 shares in the company, valued at approximately $1,591,849.96. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Encore Capital Group

Several institutional investors and hedge funds have recently modified their holdings of the business. Nomura Asset Management Co. Ltd. grew its position in shares of Encore Capital Group by 120.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock valued at $25,000 after purchasing an additional 290 shares during the period. Verition Fund Management LLC boosted its position in Encore Capital Group by 4.3% during the 3rd quarter. Verition Fund Management LLC now owns 8,828 shares of the asset manager’s stock worth $417,000 after acquiring an additional 364 shares during the last quarter. Sheets Smith Wealth Management boosted its position in Encore Capital Group by 3.0% during the 4th quarter. Sheets Smith Wealth Management now owns 14,278 shares of the asset manager’s stock worth $682,000 after acquiring an additional 416 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Encore Capital Group by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,317 shares of the asset manager’s stock worth $636,000 after acquiring an additional 460 shares during the last quarter. Finally, KBC Group NV boosted its position in Encore Capital Group by 54.9% during 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.

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.