Peregrine Capital Management LLC raised its stake in shares of Encore Capital Group Inc (NASDAQ:ECPG) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 229,206 shares of the asset manager’s stock after buying an additional 4,593 shares during the period. Peregrine Capital Management LLC owned approximately 0.89% of Encore Capital Group worth $9,203,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in ECPG. Mason Street Advisors LLC raised its position in shares of 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 in the last quarter. State of Alaska Department of Revenue raised its position in shares of Encore Capital Group by 79.7% in the second quarter. State of Alaska Department of Revenue now owns 4,672 shares of the asset manager’s stock valued at $187,000 after buying an additional 2,072 shares in the last quarter. Nisa Investment Advisors LLC acquired a new position in shares of Encore Capital Group during the second quarter valued at $201,000. UBS Asset Management Americas Inc. acquired a new position in shares of Encore Capital Group during the first quarter valued at $212,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Encore Capital Group during the first quarter valued at $232,000.
Shares of Encore Capital Group Inc (NASDAQ ECPG) remained flat at $39.05 during midday trading on Friday. 134,053 shares of the company were exchanged. The company has a market capitalization of $1.01 billion, a PE ratio of 16.00 and a beta of 1.76. The company has a 50-day moving average of $40.36 and a 200-day moving average of $35.80. Encore Capital Group Inc has a 12 month low of $17.66 and a 12 month high of $43.65.
Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.87 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.82 by $0.05. The firm had revenue of $290.92 million for the quarter, compared to the consensus estimate of $275.18 million. Encore Capital Group had a net margin of 6.28% and a return on equity of 12.38%. The company’s revenue for the quarter was up .5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.29 EPS. Equities research analysts forecast that Encore Capital Group Inc will post $3.69 earnings per share for the current year.
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Several equities analysts recently weighed in on ECPG shares. Zacks Investment Research upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a report on Friday, June 9th. Keefe, Bruyette & Woods restated a “buy” rating and issued a $49.50 price objective on shares of Encore Capital Group in a report on Thursday, August 10th. BidaskClub downgraded shares of Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 24th. Finally, Northland Securities reaffirmed a “hold” rating and issued a $44.00 target price on shares of Encore Capital Group in a research note on Friday, August 4th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price 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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