Encore Capital Group (NASDAQ:ECPG) Shares Gap Up on Insider Buying Activity

Encore Capital Group, Inc. (NASDAQ:ECPG - Get Free Report) gapped up prior to trading on Thursday following insider buying activity. The stock had previously closed at $34.46, but opened at $36.37. Encore Capital Group shares last traded at $35.13, with a volume of 44,809 shares trading hands.

Specifically, CEO Ashish Masih bought 20,000 shares of the 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 acquisition, the chief executive officer now owns 322,254 shares in the company, valued at $11,324,005.56. This represents a 6.62 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ashwini Gupta purchased 40,000 shares of the stock in a transaction dated 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 completion of the acquisition, 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.

Analysts Set New Price Targets

Several analysts have commented on the company. Northland Securities lifted their price target on Encore Capital Group from $58.00 to $66.00 and gave the company an "outperform" rating in a report on Monday, December 23rd. Truist Financial dropped their target price on Encore Capital Group from $64.00 to $57.00 and set a "buy" rating on the stock in a report 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 analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $62.67.

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Encore Capital Group Trading Down 5.0 %

The company has a market cap of $804.78 million, a price-to-earnings ratio of -4.33 and a beta of 1.73. The firm has a 50-day moving average price of $46.86 and a 200 day moving average price of $47.37. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39.

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 analysts' consensus estimates of $1.55 by ($0.05). The firm had revenue of $265.62 million during 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, sell-side analysts forecast that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

Institutional Investors Weigh In On Encore Capital Group

Large investors have recently added to or reduced their stakes in the stock. Huntington National Bank raised its stake 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 purchasing an additional 522 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in 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 purchasing an additional 290 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in shares of Encore Capital Group during the fourth quarter worth $28,000. Sterling Capital Management LLC increased its stake in shares of Encore Capital Group by 827.2% in the 4th quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager's stock valued at $36,000 after acquiring an additional 670 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Encore Capital Group by 54.9% during the third 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.

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.