Encore Capital Group (NASDAQ:ECPG) Shares Up 6.4% After Strong Earnings

Shares of Encore Capital Group, Inc. (NASDAQ:ECPG) were up 6.4% during mid-day trading on Thursday following a stronger than expected earnings report. The company traded as high as $47.86 and last traded at $46.00. Approximately 13,361 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 165,224 shares. The stock had previously closed at $43.24.

The asset manager reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.01. Encore Capital Group had a positive return on equity of 9.46% and a negative net margin of 16.89%. The firm had revenue of $328.39 million during the quarter, compared to the consensus estimate of $330.83 million. During the same quarter in the prior year, the firm posted $0.94 EPS. The business’s revenue was up 5.0% on a year-over-year basis.

Analyst Ratings Changes

Several research analysts recently commented on ECPG shares. JMP Securities restated a “market outperform” rating and set a $60.00 target price on shares of Encore Capital Group in a report on Monday. TheStreet cut shares of Encore Capital Group from a “c-” rating to a “d+” rating in a report on Monday, March 18th.

Insiders Place Their Bets

In other Encore Capital Group news, insider Ryan B. Bell sold 5,500 shares of the company’s stock in a transaction on Friday, March 8th. The shares were sold at an average price of $50.00, for a total transaction of $275,000.00. Following the sale, the insider now directly owns 42,404 shares of the company’s stock, valued at $2,120,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.90% of the company’s stock.

Hedge Funds Weigh In On Encore Capital Group

Large investors have recently modified their holdings of the stock. Assetmark Inc. raised its position in shares of Encore Capital Group by 19.4% in the fourth quarter. Assetmark Inc. now owns 1,422 shares of the asset manager’s stock valued at $72,000 after purchasing an additional 231 shares during the period. Assenagon Asset Management S.A. bought a new position in Encore Capital Group during the fourth quarter worth about $206,000. Mutual of America Capital Management LLC bought a new position in Encore Capital Group during the fourth quarter worth about $209,000. Campbell & CO Investment Adviser LLC bought a new position in Encore Capital Group during the third quarter worth about $211,000. Finally, ProShare Advisors LLC increased its position in Encore Capital Group by 7.4% during the first quarter. ProShare Advisors LLC now owns 4,692 shares of the asset manager’s stock worth $214,000 after acquiring an additional 323 shares during the period.

Encore Capital Group Trading Up 8.7 %

The firm has a market capitalization of $1.11 billion, a P/E ratio of -5.33 and a beta of 1.38. The business’s 50-day moving average is $44.69 and its 200 day moving average is $46.42. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.83 and a quick ratio of 0.83.

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.