Texas Permanent School Fund Corp Has $864,000 Stake in Encore Capital Group, Inc. (NASDAQ:ECPG)

Texas Permanent School Fund Corp increased its position in Encore Capital Group, Inc. (NASDAQ:ECPG) by 4.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,714 shares of the asset manager’s stock after purchasing an additional 835 shares during the period. Texas Permanent School Fund Corp owned approximately 0.09% of Encore Capital Group worth $864,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Stephens Investment Management Group LLC lifted its position in Encore Capital Group by 77.8% in the 4th quarter. Stephens Investment Management Group LLC now owns 916,922 shares of the asset manager’s stock valued at $46,534,000 after acquiring an additional 401,324 shares in the last quarter. UBS Group AG lifted its holdings in Encore Capital Group by 200.7% during the fourth quarter. UBS Group AG now owns 280,909 shares of the asset manager’s stock worth $14,256,000 after acquiring an additional 187,495 shares during the period. Norges Bank bought a new position in Encore Capital Group during the fourth quarter valued at about $7,979,000. Wellington Management Group LLP purchased a new stake in Encore Capital Group during the fourth quarter worth about $3,457,000. Finally, Clearbridge Investments LLC grew its position in shares of Encore Capital Group by 17.8% during the 1st quarter. Clearbridge Investments LLC now owns 394,786 shares of the asset manager’s stock valued at $18,006,000 after acquiring an additional 59,624 shares during the period.

Analyst Ratings Changes

Separately, Truist Financial reduced their price objective on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a report on Tuesday, August 20th.

Encore Capital Group Stock Down 2.1 %

ECPG stock opened at $47.98 on Friday. Encore Capital Group, Inc. has a twelve month low of $34.74 and a twelve month high of $54.55. The firm has a market capitalization of $1.14 billion, a PE ratio of -5.60 and a beta of 1.55. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 3.50. The stock has a 50-day simple moving average of $48.40 and a two-hundred day simple moving average of $45.43.

Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Wednesday, August 7th. The asset manager reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. Encore Capital Group had a negative net margin of 15.43% and a positive return on equity of 11.12%. The business had revenue of $355.29 million for the quarter, compared to analyst estimates of $346.06 million. During the same quarter in the prior year, the firm posted $1.08 EPS. Encore Capital Group’s revenue was up 10.0% on a year-over-year basis. On average, equities analysts predict that Encore Capital Group, Inc. will post 5.56 EPS for the current fiscal year.

Insider Transactions at Encore Capital Group

In related news, SVP Andrew Eric Asch sold 1,251 shares of Encore Capital Group stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $50.00, for a total transaction of $62,550.00. Following the completion of the sale, the senior vice president now owns 18,075 shares of the company’s stock, valued at $903,750. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.63% of the company’s stock.

About Encore Capital Group

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.