Encore Capital Group (NASDAQ:ECPG) Cut to Sell at StockNews.com

Encore Capital Group (NASDAQ:ECPG - Get Free Report) was downgraded by stock analysts at StockNews.com from a "hold" rating to a "sell" rating in a note issued to investors on Wednesday.

Separately, 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 research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $62.67.

Encore Capital Group Price Performance

Shares of NASDAQ ECPG opened at $31.86 on Wednesday. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market capitalization of $754.80 million, a PE ratio of -4.06 and a beta of 1.58. Encore Capital Group has a 1-year low of $26.45 and a 1-year high of $51.77. The business's fifty day moving average price is $36.09 and its two-hundred day moving average price is $43.86.

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 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 analyst estimates of $373.40 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. On average, research analysts expect that Encore Capital Group will post 5.09 EPS for the current year.

Insider Buying and Selling at Encore Capital Group

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. boosted its stake in shares of Encore Capital Group by 120.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager's stock worth $25,000 after acquiring an additional 290 shares in the last quarter. Sheets Smith Wealth Management boosted its position in shares of Encore Capital Group by 3.0% in the 4th quarter. Sheets Smith Wealth Management now owns 14,278 shares of the asset manager's stock valued at $682,000 after purchasing an additional 416 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Encore Capital Group by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,317 shares of the asset manager's stock worth $636,000 after purchasing an additional 460 shares in the last quarter. Meeder Asset Management Inc. acquired a new stake in Encore Capital Group during the 4th quarter worth about $28,000. Finally, Sterling Capital Management LLC boosted its holdings in shares of Encore Capital Group by 827.2% in the fourth quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager's stock worth $36,000 after buying an additional 670 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.