California Public Employees Retirement System cut its stake in Encore Capital Group Inc (NASDAQ:ECPG) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 88,100 shares of the asset manager’s stock after selling 3,300 shares during the period. California Public Employees Retirement System owned 0.34% of Encore Capital Group worth $2,713,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Mason Street Advisors LLC increased its position 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 last quarter. UBS Asset Management Americas Inc. bought a new position in Encore Capital Group during the first quarter valued at about $212,000. Russell Investments Group Ltd. acquired a new stake in Encore Capital Group during the first quarter worth $232,000. United Services Automobile Association acquired a new stake in Encore Capital Group during the first quarter worth $290,000. Finally, Louisiana State Employees Retirement System boosted 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 worth $296,000 after buying an additional 200 shares during the last quarter.
Shares of Encore Capital Group Inc (NASDAQ:ECPG) remained flat at $39.05 during trading on Friday. The company had a trading volume of 134,053 shares. The firm has a 50 day moving average price of $40.36 and a 200 day moving average price of $35.80. Encore Capital Group Inc has a 52 week low of $17.66 and a 52 week high of $43.65. The company has a market capitalization of $1.01 billion, a price-to-earnings ratio of 16.00 and a beta of 1.76.
Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.82 by $0.05. Encore Capital Group had a return on equity of 12.38% and a net margin of 6.28%. The company had revenue of $290.92 million during the quarter, compared to analyst estimates of $275.18 million. During the same quarter last year, the firm posted $1.29 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, equities research analysts forecast that Encore Capital Group Inc will post $3.69 earnings per share for the current fiscal year.
A number of research firms recently weighed in on ECPG. Zacks Investment Research cut shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Thursday, June 8th. BidaskClub lowered shares of Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Keefe, Bruyette & Woods began coverage on shares of Encore Capital Group in a research report on Wednesday, May 24th. They issued an “outperform” rating and a $45.00 price target on the stock. Finally, Northland Securities restated a “hold” rating and issued a $44.00 price target on shares of Encore Capital Group in a research report on Friday, August 4th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $37.58.
Encore Capital Group Company Profile
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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