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

Encore Capital Group, Inc. (NASDAQ:ECPG) was the recipient of a significant increase in short interest during the month of December. As of December 15th, there was short interest totalling 1,590,000 shares, an increase of 8.9% from the November 30th total of 1,460,000 shares. Based on an average daily volume of 147,600 shares, the days-to-cover ratio is presently 10.8 days. Currently, 6.9% of the company’s stock are short sold.

Analyst Ratings Changes

ECPG has been the subject of several recent research reports. Northland Capmk upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Northland Securities lifted their price objective on Encore Capital Group from $58.00 to $66.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. JMP Securities increased their price target on shares of Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a report on Thursday, November 7th. Finally, StockNews.com upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Friday, November 29th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Encore Capital Group has a consensus rating of “Buy” and a consensus price target of $65.00.

Encore Capital Group Stock Performance

NASDAQ ECPG traded up $0.45 during trading hours on Wednesday, hitting $47.77. 59,653 shares of the company’s stock traded hands, compared to its average volume of 147,524. 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 has a 52 week low of $39.64 and a 52 week high of $54.55. The firm has a market capitalization of $1.13 billion, a P/E ratio of -6.09 and a beta of 1.55. The business’s fifty day moving average price is $48.14 and its two-hundred day moving average price is $47.00.

Encore Capital Group (NASDAQ:ECPG) last released its earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.48 by ($0.22). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The firm had revenue of $367.07 million during the quarter, compared to analysts’ expectations of $360.70 million. During the same period in the prior year, the company posted $0.79 earnings per share. The company’s revenue was up 18.6% compared to the same quarter last year. Equities research analysts predict that Encore Capital Group will post 5.09 EPS for the current year.

Insider Transactions at Encore Capital Group

In related news, Director Laura Olle sold 1,340 shares of the business’s stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total transaction of $65,874.40. Following the sale, the director now directly owns 32,381 shares in the company, valued at approximately $1,591,849.96. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 2.63% of the company’s stock.

Hedge Funds Weigh In On Encore Capital Group

A number of hedge funds have recently made changes to their positions in the business. Verition Fund Management LLC increased its holdings in shares of Encore Capital Group by 4.3% in the third quarter. Verition Fund Management LLC now owns 8,828 shares of the asset manager’s stock worth $417,000 after purchasing an additional 364 shares during the last quarter. Victory Capital Management Inc. grew its holdings in Encore Capital Group by 8.8% during the 2nd quarter. Victory Capital Management Inc. now owns 4,980 shares of the asset manager’s stock valued at $208,000 after buying an additional 403 shares in the last quarter. KBC Group NV increased its stake in Encore Capital Group by 54.9% in the 3rd quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock worth $65,000 after acquiring an additional 484 shares during the last quarter. Huntington National Bank raised its holdings in shares of Encore Capital Group by 8,700.0% during the 3rd quarter. Huntington National Bank now owns 528 shares of the asset manager’s stock worth $25,000 after acquiring an additional 522 shares in the last quarter. Finally, Inspire Investing LLC boosted its position in shares of Encore Capital Group by 9.8% during the 2nd quarter. Inspire Investing LLC now owns 8,536 shares of the asset manager’s stock valued at $356,000 after acquiring an additional 759 shares during the last quarter.

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.