Encore Capital Group, Inc. (NASDAQ:ECPG) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lowered its holdings in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 7.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 699,373 shares of the asset manager's stock after selling 56,962 shares during the period. Wellington Management Group LLP owned 2.95% of Encore Capital Group worth $33,409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Nomura Asset Management Co. Ltd. increased 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 purchasing an additional 290 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Encore Capital Group during the 4th quarter valued at $84,000. Quantbot Technologies LP acquired a new stake in shares of Encore Capital Group during the 4th quarter worth $150,000. Inceptionr LLC purchased a new position in shares of Encore Capital Group in the 4th quarter worth $202,000. Finally, KLP Kapitalforvaltning AS purchased a new position in shares of Encore Capital Group in the 4th quarter worth $248,000.

Analysts Set New Price Targets

Several equities research analysts have commented on ECPG shares. Northland Securities upped their price target 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. StockNews.com downgraded shares of Encore Capital Group from a "hold" rating to a "sell" rating in a research report on Friday, April 4th. Finally, Truist Financial reduced their price target on shares of Encore Capital Group from $64.00 to $57.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. One investment analyst has rated the stock with a sell rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $62.67.

Encore Capital Group Stock Down 0.3 %

Shares of NASDAQ ECPG traded down $0.10 on Friday, hitting $29.32. The company had a trading volume of 332,830 shares, compared to its average volume of 185,258. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. Encore Capital Group, Inc. has a 12-month low of $26.45 and a 12-month high of $51.77. The firm has a market capitalization of $694.62 million, a P/E ratio of -3.74 and a beta of 1.58. The business has a 50 day moving average of $38.88 and a two-hundred day moving average of $44.63.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last released 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 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%. As a group, equities research analysts forecast that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Insider Activity at Encore Capital Group

In other Encore Capital Group news, 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 cost of $35.14 per share, with a total value of $702,800.00. Following the completion of the transaction, the chief executive officer now owns 322,254 shares in the company, valued at $11,324,005.56. The trade was a 6.62 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ashwini Gupta purchased 40,000 shares of Encore Capital Group stock in a transaction that occurred on Wednesday, March 5th. The stock was acquired at an average cost of $35.10 per share, with a total value of $1,404,000.00. Following the acquisition, the director now directly owns 96,909 shares of the company's stock, valued at $3,401,505.90. The trade was a 70.29 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.63% of the company's stock.

Encore Capital Group 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.