Sheets Smith Wealth Management Buys 416 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

Sheets Smith Wealth Management boosted its position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 3.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,278 shares of the asset manager’s stock after purchasing an additional 416 shares during the period. Sheets Smith Wealth Management owned about 0.06% of Encore Capital Group worth $682,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stephens Investment Management Group LLC raised its position in Encore Capital Group by 0.5% in the 3rd quarter. Stephens Investment Management Group LLC now owns 1,137,752 shares of the asset manager’s stock valued at $53,782,000 after buying an additional 5,373 shares during the last quarter. State Street Corp raised its holdings in shares of Encore Capital Group by 0.3% in the third quarter. State Street Corp now owns 900,677 shares of the asset manager’s stock valued at $42,575,000 after purchasing an additional 2,597 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Encore Capital Group by 16.0% in the third quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock worth $35,752,000 after purchasing an additional 104,509 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Encore Capital Group by 2.5% during the third quarter. Geode Capital Management LLC now owns 570,047 shares of the asset manager’s stock worth $26,952,000 after purchasing an additional 13,648 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Encore Capital Group by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 481,497 shares of the asset manager’s stock valued at $22,760,000 after purchasing an additional 18,467 shares in the last quarter.

Encore Capital Group Price Performance

NASDAQ:ECPG opened at $48.58 on Thursday. The company has a quick ratio of 1.11, a current 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. The stock’s 50 day moving average price is $48.21 and its two-hundred day moving average price is $47.66. The firm has a market capitalization of $1.15 billion, a price-to-earnings ratio of -6.19 and a beta of 1.55.

Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share (EPS) for the quarter, missing the consensus estimate 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 for the quarter, compared to analyst estimates of $360.70 million. During the same period in the prior year, the business earned $0.79 EPS. The company’s revenue for the quarter was up 18.6% compared to the same quarter last year. On average, analysts anticipate that Encore Capital Group, Inc. will post 5.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

ECPG has been the topic of several analyst reports. JMP Securities boosted 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 report on Thursday, November 7th. StockNews.com raised Encore Capital Group from a “hold” rating to a “buy” rating in a research report on Friday, November 29th. Northland Securities boosted their price target on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Finally, Northland Capmk raised shares of Encore Capital Group from a “hold” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Four equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $65.00.

Insider Transactions at Encore Capital Group

In other news, Director Laura Olle sold 1,340 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total transaction of $65,874.40. Following the transaction, the director now owns 32,381 shares in the company, valued at approximately $1,591,849.96. This trade represents a 3.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 2.63% of the stock is currently owned by corporate insiders.

Encore Capital Group Company Profile

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.