Barclays PLC Raises Stake in Encore Capital Group, Inc. (NASDAQ:ECPG)

Barclays PLC boosted its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 29.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 256,002 shares of the asset manager's stock after buying an additional 58,099 shares during the period. Barclays PLC owned approximately 1.08% of Encore Capital Group worth $12,228,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new position in Encore Capital Group in the fourth quarter worth $3,361,000. Jane Street Group LLC boosted its holdings in shares of Encore Capital Group by 191.7% in the 3rd quarter. Jane Street Group LLC now owns 49,719 shares of the asset manager's stock worth $2,350,000 after purchasing an additional 32,672 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Encore Capital Group by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,042 shares of the asset manager's stock worth $24,460,000 after purchasing an additional 30,545 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Encore Capital Group by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,588,969 shares of the asset manager's stock valued at $123,675,000 after purchasing an additional 16,663 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Encore Capital Group by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 570,047 shares of the asset manager's stock valued at $26,952,000 after buying an additional 13,648 shares in the last quarter.

Wall Street Analysts Forecast Growth

ECPG has been the subject of several research reports. StockNews.com lowered Encore Capital Group from a "hold" rating to a "sell" rating in a research note on Wednesday. Truist Financial lowered their price target on shares of Encore Capital Group from $64.00 to $57.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $62.67.

Encore Capital Group Trading Down 1.2 %

Shares of Encore Capital Group stock traded down $0.43 on Friday, hitting $34.38. The stock had a trading volume of 127,667 shares, compared to its average volume of 188,585. The stock's 50-day simple moving average is $35.45 and its two-hundred day simple moving average is $43.71. Encore Capital Group, Inc. has a one year low of $26.45 and a one year high of $51.77. 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 $814.47 million, a price-to-earnings ratio of -4.39 and a beta of 1.58.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last released its quarterly earnings data on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 negative net margin of 13.91% and a positive return on equity of 12.70%. As a group, sell-side analysts predict that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Insider Buying and Selling at Encore Capital Group

In related news, Director Ashwini Gupta purchased 40,000 shares of Encore Capital Group stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average price 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 of the company's stock, valued at $3,401,505.90. This represents a 70.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ashish Masih acquired 20,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $35.14 per share, with a total value of $702,800.00. Following the completion of the acquisition, the chief executive officer now directly owns 322,254 shares of the company's stock, valued at $11,324,005.56. This trade represents a 6.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.63% of the stock is currently owned by corporate insiders.

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.