Empowered Funds LLC Increases Stake in Encore Capital Group, Inc. (NASDAQ:ECPG)

Empowered Funds LLC raised its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 5.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 84,812 shares of the asset manager’s stock after acquiring an additional 4,288 shares during the quarter. Empowered Funds LLC owned approximately 0.36% of Encore Capital Group worth $4,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of ECPG. Huntington National Bank grew its stake 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 valued at $25,000 after acquiring an additional 522 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Encore Capital Group in the second quarter worth approximately $33,000. nVerses Capital LLC boosted its position in shares of Encore Capital Group by 450.0% in the second quarter. nVerses Capital LLC now owns 1,100 shares of the asset manager’s stock worth $46,000 after purchasing an additional 900 shares during the period. Innealta Capital LLC purchased a new stake in shares of Encore Capital Group in the second quarter worth $60,000. Finally, KBC Group NV raised its position in shares of Encore Capital Group by 54.9% during the 3rd 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 period.

Encore Capital Group Price Performance

Shares of Encore Capital Group stock opened at $48.96 on Tuesday. The firm has a market cap of $1.16 billion, a PE ratio of -6.24 and a beta of 1.56. The stock has a 50 day moving average of $46.82 and a 200 day moving average of $46.03. 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, Inc. has a 12 month low of $39.64 and a 12 month high of $54.55.

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

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ECPG. Northland Capmk upgraded Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Truist Financial cut their target price on Encore Capital Group from $70.00 to $64.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. Northland Securities raised Encore Capital Group from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $55.00 to $58.00 in a research note on Thursday, October 17th. StockNews.com upgraded Encore Capital Group from a “hold” rating to a “buy” rating in a research note on Tuesday, November 12th. Finally, JMP Securities lifted their price objective 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. Four investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Encore Capital Group has an average rating of “Buy” and a consensus price target of $62.33.

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.