Rhumbline Advisers Sells 610 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

Rhumbline Advisers cut its stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 0.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,677 shares of the asset manager’s stock after selling 610 shares during the period. Rhumbline Advisers owned about 0.30% of Encore Capital Group worth $3,424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Huntington National Bank boosted its stake in shares of Encore Capital Group by 8,700.0% during the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock worth $25,000 after acquiring an additional 522 shares during the last quarter. KBC Group NV raised its holdings in Encore Capital Group by 54.9% in the 3rd quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock worth $65,000 after purchasing an additional 484 shares during the period. R Squared Ltd purchased a new position in Encore Capital Group during the fourth quarter valued at $84,000. Systematic Financial Management LP bought a new stake in Encore Capital Group during the third quarter valued at about $156,000. Finally, Versor Investments LP purchased a new stake in Encore Capital Group in the third quarter worth about $222,000.

Analysts Set New Price Targets

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

Encore Capital Group Stock Down 3.2 %

Encore Capital Group stock opened at $37.72 on Friday. The business has a fifty day moving average price of $48.36 and a 200-day moving average price of $47.97. Encore Capital Group, Inc. has a 1-year low of $35.38 and a 1-year high of $51.77. The stock has a market capitalization of $893.62 million, a price-to-earnings ratio of -4.81 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.

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

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.