Encore Capital Group (NASDAQ:ECPG) Hits New 1-Year Low - Time to Sell?

Encore Capital Group, Inc. (NASDAQ:ECPG - Get Free Report) hit a new 52-week low on Wednesday . The company traded as low as $32.50 and last traded at $32.47, with a volume of 42795 shares. The stock had previously closed at $33.55.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ECPG. Northland Securities boosted their target price on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. Truist Financial dropped their target price 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. Finally, StockNews.com downgraded shares of 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 issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Encore Capital Group has a consensus rating of "Buy" and an average target price of $62.67.

Encore Capital Group Stock Performance

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 $811.89 million, a P/E ratio of -4.37 and a beta of 1.73. The stock's 50 day moving average is $45.71 and its two-hundred day moving average is $46.89.

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Encore Capital Group (NASDAQ:ECPG - Get Free Report) last posted its quarterly 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). The business had revenue of $265.62 million for the quarter, compared to the consensus estimate of $373.40 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. As a group, equities analysts anticipate that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Ashish Masih acquired 20,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased 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 owns 322,254 shares in the company, valued at $11,324,005.56. This trade represents a 6.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Ashwini Gupta acquired 40,000 shares of the firm's stock in a transaction that occurred on 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 owns 96,909 shares of the company's stock, valued at approximately $3,401,505.90. This trade represents a 70.29 % increase in their position. The disclosure for this purchase can be found here. 2.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Huntington National Bank boosted its holdings in shares of Encore Capital Group by 8,700.0% in the third quarter. Huntington National Bank now owns 528 shares of the asset manager's stock valued at $25,000 after buying an additional 522 shares during the period. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Encore Capital Group by 120.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager's stock valued at $25,000 after buying an additional 290 shares during the period. Meeder Asset Management Inc. acquired a new position in shares of Encore Capital Group in the fourth quarter valued at approximately $28,000. 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 valued at $36,000 after buying an additional 670 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Encore Capital Group by 54.9% in the third quarter. KBC Group NV now owns 1,365 shares of the asset manager's stock valued at $65,000 after buying an additional 484 shares during the period.

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.