Fmr LLC raised its position in shares of Encore Capital Group Inc (NASDAQ:ECPG) by 74.9% during the first quarter, according to its most recent filing with the SEC. The fund owned 616,608 shares of the asset manager’s stock after buying an additional 264,085 shares during the period. Fmr LLC owned 2.41% of Encore Capital Group worth $18,992,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Mason Street Advisors LLC raised its stake in Encore Capital Group by 7.3% in the first quarter. Mason Street Advisors LLC now owns 5,507 shares of the asset manager’s stock valued at $170,000 after buying an additional 374 shares during the period. UBS Asset Management Americas Inc. purchased a new stake in Encore Capital Group during the first quarter valued at $212,000. Russell Investments Group Ltd. purchased a new stake in Encore Capital Group during the first quarter valued at $232,000. United Services Automobile Association purchased a new stake in Encore Capital Group during the first quarter valued at $290,000. Finally, Louisiana State Employees Retirement System raised its stake in Encore Capital Group by 2.1% in the first quarter. Louisiana State Employees Retirement System now owns 9,600 shares of the asset manager’s stock valued at $296,000 after buying an additional 200 shares during the period.
Shares of Encore Capital Group Inc (ECPG) opened at 40.60 on Tuesday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 14.47 and a beta of 1.76. Encore Capital Group Inc has a 12-month low of $17.66 and a 12-month high of $41.38. The firm has a 50-day moving average of $38.44 and a 200 day moving average of $33.06.
Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings data on Thursday, May 4th. The asset manager reported $0.95 EPS for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.02. Encore Capital Group had a net margin of 7.21% and a return on equity of 13.72%. The company had revenue of $271.94 million for the quarter, compared to analyst estimates of $280.93 million. During the same period in the prior year, the firm posted $1.31 EPS. The company’s quarterly revenue was down 5.9% on a year-over-year basis. On average, equities research analysts expect that Encore Capital Group Inc will post $3.74 earnings per share for the current year.
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Several research firms have weighed in on ECPG. Zacks Investment Research lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a report on Monday, July 10th. Keefe, Bruyette & Woods began coverage on shares of Encore Capital Group in a report on Wednesday, May 24th. They issued an “outperform” rating and a $45.00 target price on the stock. Five research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $33.00.
About Encore Capital Group
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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