Encore Capital Group (NASDAQ:ECPG) Shares Gap Up After Insider Buying Activity

Encore Capital Group, Inc. (NASDAQ:ECPG)’s share price gapped up before the market opened on Thursday following insider buying activity. The stock had previously closed at $34.46, but opened at $36.37. Encore Capital Group shares last traded at $35.13, with a volume of 44,809 shares changing hands.

Specifically, CEO Ashish Masih purchased 20,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was purchased at an average cost of $35.14 per share, with a total value of $702,800.00. Following the completion of the purchase, the chief executive officer now owns 322,254 shares in the company, valued at approximately $11,324,005.56. This trade represents a 6.62 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ashwini Gupta acquired 40,000 shares of the business’s stock in a transaction dated Wednesday, March 5th. The shares were bought at an average cost of $35.10 per share, for a total transaction of $1,404,000.00. Following the transaction, the director now directly owns 96,909 shares in the company, valued at approximately $3,401,505.90. This represents a 70.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ECPG. Northland Securities upped their price target on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. JMP Securities upped 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. Truist Financial reduced their price target on shares of Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Finally, StockNews.com lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $62.67.

Encore Capital Group Stock Up 4.0 %

The company has a market cap of $849.09 million, a P/E ratio of -4.57 and a beta of 1.55. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a fifty day moving average price of $47.61 and a two-hundred day moving average price of $47.68.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Wednesday, February 26th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.05). Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The company had revenue of $265.62 million for the quarter, compared to the consensus estimate of $373.40 million. On average, research analysts expect that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp bought a new position in shares of Encore Capital Group during the 4th quarter worth approximately $322,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Encore Capital Group by 31.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,793 shares of the asset manager’s stock valued at $3,477,000 after acquiring an additional 17,470 shares during the last quarter. Voloridge Investment Management LLC bought a new stake in Encore Capital Group during the fourth quarter worth $1,713,000. Squarepoint Ops LLC boosted its position in Encore Capital Group by 64.5% in the fourth quarter. Squarepoint Ops LLC now owns 42,095 shares of the asset manager’s stock worth $2,011,000 after purchasing an additional 16,507 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in Encore Capital Group by 75.4% in the 4th quarter. Two Sigma Advisers LP now owns 87,000 shares of the asset manager’s stock valued at $4,156,000 after purchasing an additional 37,400 shares during the period.

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.