Encore Capital Group, Inc. (NASDAQ:ECPG) Sees Large Decrease in Short Interest

Encore Capital Group, Inc. (NASDAQ:ECPG) saw a significant decline in short interest in the month of January. As of January 31st, there was short interest totalling 1,410,000 shares, a decline of 6.0% from the January 15th total of 1,500,000 shares. Currently, 6.1% of the company’s shares are short sold. Based on an average daily volume of 146,300 shares, the short-interest ratio is presently 9.6 days.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ECPG shares. JMP Securities increased their target price on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research report on Thursday, November 7th. Northland Securities increased their price objective on shares of Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, StockNews.com raised shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. Four equities research 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 company currently has a consensus rating of “Buy” and an average price target of $65.00.

Insider Transactions at Encore Capital Group

In other news, Director Laura Olle sold 1,340 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total transaction of $65,874.40. Following the completion of the transaction, the director now directly owns 32,381 shares in the company, valued at $1,591,849.96. This trade represents a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.63% of the stock is owned by company insiders.

Institutional Trading of Encore Capital Group

Several large investors have recently modified their holdings of ECPG. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Encore Capital Group by 31.6% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,793 shares of the asset manager’s stock worth $3,477,000 after acquiring an additional 17,470 shares in the last quarter. Voloridge Investment Management LLC acquired a new position in shares of Encore Capital Group during the fourth quarter valued at about $1,713,000. Squarepoint Ops LLC raised its holdings in shares of Encore Capital Group by 64.5% during the fourth quarter. Squarepoint Ops LLC now owns 42,095 shares of the asset manager’s stock valued at $2,011,000 after purchasing an additional 16,507 shares during the period. Two Sigma Advisers LP boosted its position in shares of Encore Capital Group by 75.4% during the 4th quarter. Two Sigma Advisers LP now owns 87,000 shares of the asset manager’s stock worth $4,156,000 after purchasing an additional 37,400 shares in the last quarter. Finally, Two Sigma Investments LP grew its stake in shares of Encore Capital Group by 25.7% in the 4th quarter. Two Sigma Investments LP now owns 119,842 shares of the asset manager’s stock valued at $5,725,000 after buying an additional 24,494 shares during the period.

Encore Capital Group Price Performance

Shares of ECPG stock opened at $50.25 on Wednesday. Encore Capital Group has a fifty-two week low of $39.64 and a fifty-two week high of $53.72. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The stock has a 50 day simple moving average of $48.60 and a two-hundred day simple moving average of $47.99.

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.