Charles Schwab Investment Management Inc. Purchases 30,545 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

Charles Schwab Investment Management Inc. boosted its position in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 6.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 512,042 shares of the asset manager's stock after buying an additional 30,545 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.16% of Encore Capital Group worth $24,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ECPG. Huntington National Bank increased its holdings in 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 purchasing an additional 522 shares in the last quarter. KBC Group NV increased its holdings in Encore Capital Group by 54.9% during 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 in the last quarter. R Squared Ltd bought a new stake in Encore Capital Group during the 4th quarter worth approximately $84,000. Systematic Financial Management LP bought a new stake in Encore Capital Group during the 3rd quarter worth approximately $156,000. Finally, Versor Investments LP increased its holdings in Encore Capital Group by 66.0% during the 4th quarter. Versor Investments LP now owns 7,800 shares of the asset manager's stock worth $373,000 after purchasing an additional 3,100 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Truist Financial cut their target price on Encore Capital Group from $64.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Northland Securities boosted their target price on Encore Capital Group from $58.00 to $66.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. Finally, StockNews.com downgraded Encore Capital Group from a "buy" rating to a "hold" rating in a research note on Friday, February 28th. One equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Encore Capital Group currently has a consensus rating of "Buy" and a consensus target price of $62.67.

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Insiders Place Their Bets

In related news, CEO Ashish Masih bought 20,000 shares of the company's stock in a transaction on Wednesday, March 5th. The shares were purchased at an average price of $35.14 per share, for a total transaction of $702,800.00. Following the completion of the transaction, the chief executive officer now directly owns 322,254 shares in the company, valued at approximately $11,324,005.56. The trade was a 6.62 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ashwini Gupta bought 40,000 shares of the company's stock in a transaction 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 transaction, the director now 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 disclosure for this purchase can be found here. Company insiders own 2.63% of the company's stock.

Encore Capital Group Stock Performance

Encore Capital Group stock traded up $0.28 during trading on Friday, hitting $34.79. The stock had a trading volume of 476,647 shares, compared to its average volume of 171,927. Encore Capital Group, Inc. has a 1 year low of $31.54 and a 1 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's 50 day moving average is $44.48 and its two-hundred day moving average is $46.39. The stock has a market cap of $824.21 million, a price-to-earnings ratio of -4.43 and a beta of 1.73.

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