Encore Capital Group (NASDAQ:ECPG) Shares Gap Up on Insider Buying Activity

Encore Capital Group, Inc. (NASDAQ:ECPG) shares gapped up prior to trading on Thursday after an insider bought additional shares in the company. The stock had previously closed at $34.46, but opened at $36.37. Encore Capital Group shares last traded at $35.13, with a volume of 44,809 shares changing hands.

Specifically, CEO Ashish Masih acquired 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, for a total transaction of $702,800.00. Following the completion of the purchase, the chief executive officer now owns 322,254 shares of the company’s stock, valued at approximately $11,324,005.56. This trade represents a 6.62 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Ashwini Gupta acquired 40,000 shares of Encore Capital Group stock in a transaction dated 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 completion of the transaction, the director now directly owns 96,909 shares of the company’s stock, valued at $3,401,505.90. This trade represents a 70.29 % increase in their position. The disclosure for this purchase can be found here.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JMP Securities lifted their price target on shares of Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a research note on Thursday, November 7th. 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 report on Monday, December 23rd. Truist Financial lowered their target price on Encore Capital Group from $64.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, StockNews.com lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a report on Friday, February 28th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Encore Capital Group currently has an average rating of “Buy” and an average price target of $62.67.

Encore Capital Group Price Performance

The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11. The company has a fifty day moving average price of $47.87 and a two-hundred day moving average price of $47.78. The company has a market cap of $832.03 million, a P/E ratio of -4.47 and a beta of 1.55.

Encore Capital Group (NASDAQ:ECPG) last issued its earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.55 by ($0.05). The firm had revenue of $265.62 million during the quarter, compared to analyst estimates of $373.40 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. On average, sell-side analysts anticipate that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Institutional Trading of Encore Capital Group

Institutional investors have recently modified their holdings of the stock. Huntington National Bank raised its stake in Encore Capital Group by 8,700.0% during the third 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. Nomura Asset Management Co. Ltd. boosted its position in Encore Capital Group by 120.8% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager’s stock valued at $25,000 after buying an additional 290 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Encore Capital Group during the fourth quarter worth $28,000. Sterling Capital Management LLC boosted its holdings in shares of Encore Capital Group by 827.2% during the 4th quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager’s stock valued at $36,000 after acquiring an additional 670 shares in the last quarter. Finally, KBC Group NV raised its position in Encore Capital Group by 54.9% in the third quarter. KBC Group NV now owns 1,365 shares of the asset manager’s stock valued at $65,000 after purchasing an additional 484 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.