Encore Capital Group, Inc. (NASDAQ:ECPG) Shares Purchased by nVerses Capital LLC

nVerses Capital LLC raised its position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 90.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,100 shares of the asset manager’s stock after buying an additional 1,000 shares during the quarter. nVerses Capital LLC’s holdings in Encore Capital Group were worth $99,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ECPG. Meeder Asset Management Inc. acquired a new stake in Encore Capital Group during the second quarter valued at approximately $33,000. Innealta Capital LLC acquired a new stake in shares of Encore Capital Group during the 2nd quarter worth approximately $60,000. EntryPoint Capital LLC acquired a new stake in shares of Encore Capital Group during the 1st quarter worth approximately $138,000. Victory Capital Management Inc. raised its position in shares of Encore Capital Group by 8.8% during the 2nd quarter. Victory Capital Management Inc. now owns 4,980 shares of the asset manager’s stock worth $208,000 after purchasing an additional 403 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Encore Capital Group by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 4,692 shares of the asset manager’s stock worth $214,000 after purchasing an additional 323 shares during the period.

Encore Capital Group Stock Performance

Shares of NASDAQ ECPG opened at $47.15 on Monday. The stock has a fifty day moving average price of $47.44 and a two-hundred day moving average price of $45.31. The company has a debt-to-equity ratio of 3.50, a quick ratio of 1.27 and a current ratio of 1.27. The firm has a market cap of $1.12 billion, a P/E ratio of -5.50 and a beta of 1.55. Encore Capital Group, Inc. has a 1 year low of $34.74 and a 1 year high of $54.55.

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

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Truist Financial dropped their price target on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Northland Capmk upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Northland Securities upgraded Encore Capital Group from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $55.00 to $58.00 in a research report on Thursday. Finally, JMP Securities reissued a “market outperform” rating and issued a $60.00 price objective on shares of Encore Capital Group in a report on Monday, October 14th. Three equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $60.67.

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.