Portolan Capital Management LLC Makes New Investment in Encore Capital Group, Inc. (NASDAQ:ECPG)

Portolan Capital Management LLC acquired a new stake in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 215,423 shares of the asset manager's stock, valued at approximately $10,291,000. Portolan Capital Management LLC owned about 0.91% of Encore Capital Group as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of the company. Nomura Asset Management Co. Ltd. increased its position in shares of Encore Capital Group by 120.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager's stock valued at $25,000 after acquiring an additional 290 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Encore Capital Group during the 4th quarter valued at $28,000. Sterling Capital Management LLC raised its stake in shares of Encore Capital Group by 827.2% during the 4th quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager's stock worth $36,000 after purchasing an additional 670 shares during the period. Huntington National Bank raised its stake in shares of Encore Capital Group by 152.5% during the 4th quarter. Huntington National Bank now owns 1,333 shares of the asset manager's stock worth $64,000 after purchasing an additional 805 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Encore Capital Group in the 4th quarter worth about $84,000.

Insider Buying and Selling

In related news, Director Ashwini Gupta purchased 40,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were purchased at an average price of $35.10 per share, with a total value of $1,404,000.00. Following the acquisition, the director now directly owns 96,909 shares of the company's stock, valued at approximately $3,401,505.90. This represents a 70.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ashish Masih acquired 20,000 shares of the stock in a transaction dated Wednesday, March 5th. The shares were bought at an average price of $35.14 per share, for a total transaction of $702,800.00. Following the transaction, the chief executive officer now owns 322,254 shares in the company, valued at approximately $11,324,005.56. This represents a 6.62 % increase in their position. The disclosure for this purchase can be found here. 2.63% of the stock is currently owned by company insiders.

Encore Capital Group Price Performance

ECPG traded up $0.90 during trading on Friday, reaching $30.41. 291,327 shares of the company were exchanged, compared to its average volume of 185,546. Encore Capital Group, Inc. has a 12-month low of $26.45 and a 12-month high of $51.77. The company has a market cap of $720.44 million, a price-to-earnings ratio of -3.87 and a beta of 1.58. 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 company's 50-day moving average is $36.83 and its two-hundred day moving average is $44.06.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last posted its earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share for the quarter, missing analysts' consensus estimates of $1.55 by ($0.05). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The firm had revenue of $265.62 million for the quarter, compared to the consensus estimate of $373.40 million. Research analysts forecast that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ECPG has been the topic of several research reports. Northland Securities lifted their price objective on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an "outperform" rating in a research report on Monday, December 23rd. StockNews.com raised shares of Encore Capital Group from a "sell" rating to a "hold" rating in a report on Tuesday. Finally, Truist Financial reduced their price objective on Encore Capital Group from $64.00 to $57.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One 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 company. According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price 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.