Quantbot Technologies LP Makes New Investment in Encore Capital Group, Inc. (NASDAQ:ECPG)

Quantbot Technologies LP acquired a new position in Encore Capital Group, Inc. (NASDAQ:ECPG) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,137 shares of the asset manager’s stock, valued at approximately $150,000.

Other hedge funds also recently added to or reduced their stakes in the company. Verition Fund Management LLC raised its position in Encore Capital Group by 4.3% during the third quarter. Verition Fund Management LLC now owns 8,828 shares of the asset manager’s stock valued at $417,000 after acquiring an additional 364 shares in the last quarter. Sheets Smith Wealth Management grew its position in shares of Encore Capital Group by 3.0% in the fourth quarter. Sheets Smith Wealth Management now owns 14,278 shares of the asset manager’s stock valued at $682,000 after purchasing an additional 416 shares during the period. R Squared Ltd acquired a new position in shares of Encore Capital Group during the 4th quarter worth about $84,000. Petrus Trust Company LTA increased its stake in Encore Capital Group by 22.8% during the 3rd quarter. Petrus Trust Company LTA now owns 12,789 shares of the asset manager’s stock worth $605,000 after buying an additional 2,377 shares in the last quarter. Finally, Janney Capital Management LLC increased its position in shares of Encore Capital Group by 35.8% during the fourth quarter. Janney Capital Management LLC now owns 9,754 shares of the asset manager’s stock worth $466,000 after purchasing an additional 2,570 shares in the last quarter.

Encore Capital Group Stock Down 4.2 %

Shares of NASDAQ:ECPG opened at $34.26 on Monday. Encore Capital Group, Inc. has a fifty-two week low of $31.54 and a fifty-two week high of $51.77. The firm’s 50 day moving average price is $43.24 and its 200 day moving average price is $45.97. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The stock has a market cap of $811.65 million, a price-to-earnings ratio of -4.36 and a beta of 1.73.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, February 26th. The asset manager reported $1.50 EPS for the quarter, missing the consensus estimate of $1.55 by ($0.05). The business had revenue of $265.62 million during the quarter, compared to analysts’ expectations of $373.40 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. As a group, equities research analysts predict that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Insider Transactions at Encore Capital Group

In other news, CEO Ashish Masih acquired 20,000 shares of Encore Capital Group stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $35.14 per share, for a total transaction of $702,800.00. Following the completion of the purchase, the chief executive officer now owns 322,254 shares in the company, valued at $11,324,005.56. This represents a 6.62 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ashwini Gupta acquired 40,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were acquired at an average cost of $35.10 per share, for a total transaction of $1,404,000.00. Following the completion of the transaction, the director now directly owns 96,909 shares in the company, valued at $3,401,505.90. The trade was a 70.29 % increase in their position. The disclosure for this purchase can be found here. Insiders own 2.63% of the company’s stock.

Analysts Set New Price Targets

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

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.