Encore Capital Group (NASDAQ:ECPG) Reaches New 12-Month Low - Here's Why

Encore Capital Group, Inc. (NASDAQ:ECPG - Get Free Report) reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $26.45 and last traded at $31.68, with a volume of 547084 shares changing hands. The stock had previously closed at $27.13.

Analyst Ratings Changes

A number of brokerages have commented on ECPG. Truist Financial lowered their price target 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. Northland Securities raised their price objective 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 lowered Encore Capital Group from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. One analyst has rated the stock with a sell rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $62.67.

Encore Capital Group Stock Performance

The firm's fifty day simple moving average is $38.46 and its 200 day simple moving average is $44.49. The company has a market capitalization of $715.35 million, a PE ratio of -3.85 and a beta of 1.58. 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 - Get Free Report) last issued its earnings results on Wednesday, February 26th. The asset manager reported $1.50 EPS for the quarter, missing analysts' consensus estimates of $1.55 by ($0.05). The company 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%. On average, research analysts predict that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Insiders Place Their Bets

In other news, Director Ashwini Gupta acquired 40,000 shares of the firm's stock in a transaction on Wednesday, March 5th. The stock was acquired 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 owns 96,909 shares in the company, valued at approximately $3,401,505.90. The trade was a 70.29 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ashish Masih bought 20,000 shares of the company's stock in a transaction dated Wednesday, March 5th. The shares were acquired 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. This trade represents a 6.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.63% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Nomura Asset Management Co. Ltd. raised its position in 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 worth $25,000 after acquiring an additional 290 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Encore Capital Group during the fourth quarter worth about $28,000. Sterling Capital Management LLC raised its position 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 last quarter. Huntington National Bank lifted its stake in Encore Capital Group by 152.5% in the 4th quarter. Huntington National Bank now owns 1,333 shares of the asset manager's stock valued at $64,000 after buying an additional 805 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in Encore Capital Group in the 4th quarter worth about $84,000.

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.