Encore Capital Group, Inc. (NASDAQ:ECPG) Shares Sold by Janney Capital Management LLC

Janney Capital Management LLC reduced its stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,184 shares of the asset manager’s stock after selling 294 shares during the quarter. Janney Capital Management LLC’s holdings in Encore Capital Group were worth $340,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Meeder Asset Management Inc. purchased a new position in Encore Capital Group during the 2nd quarter worth $33,000. nVerses Capital LLC boosted its holdings in shares of Encore Capital Group by 450.0% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock valued at $46,000 after acquiring an additional 900 shares in the last quarter. Innealta Capital LLC purchased a new stake in shares of Encore Capital Group in the second quarter valued at about $60,000. EntryPoint Capital LLC purchased a new stake in shares of Encore Capital Group in the first quarter valued at about $138,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of Encore Capital Group by 8.8% in the second quarter. Victory Capital Management Inc. now owns 4,980 shares of the asset manager’s stock valued at $208,000 after acquiring an additional 403 shares in the last quarter.

Encore Capital Group Stock Up 0.2 %

ECPG stock opened at $45.79 on Monday. The company has a market cap of $1.08 billion, a P/E ratio of -5.50 and a beta of 1.56. Encore Capital Group, Inc. has a 52 week low of $34.74 and a 52 week high of $54.55. The company’s 50-day moving average price is $46.82 and its 200 day moving average price is $45.48. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 3.50.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, August 7th. The asset manager reported $1.34 EPS for the quarter, topping analysts’ consensus estimates of $1.24 by $0.10. The firm had revenue of $355.29 million for the quarter, compared to the consensus estimate of $346.06 million. Encore Capital Group had a negative net margin of 15.43% and a positive return on equity of 11.12%. The firm’s revenue was up 10.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, research analysts expect that Encore Capital Group, Inc. will post 5.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on ECPG shares. Truist Financial lowered their target price on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a report on Tuesday, August 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $60.00 target price on shares of Encore Capital Group in a report on Monday, October 14th. Northland Securities raised shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $58.00 in a report on Thursday, October 17th. Finally, Northland Capmk raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $60.67.

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.