Balyasny Asset Management L.P. Makes New Investment in Encore Capital Group, Inc. (NASDAQ:ECPG)

Balyasny Asset Management L.P. acquired a new position in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 13,968 shares of the asset manager's stock, valued at approximately $667,000. Balyasny Asset Management L.P. owned 0.06% of Encore Capital Group as of its most recent SEC filing.

A number of other large investors have also modified their holdings of ECPG. Nomura Asset Management Co. Ltd. increased its stake in Encore Capital Group by 120.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager's stock valued at $25,000 after buying an additional 290 shares during the period. Sheets Smith Wealth Management grew its stake in shares of Encore Capital Group by 3.0% in the 4th quarter. Sheets Smith Wealth Management now owns 14,278 shares of the asset manager's stock worth $682,000 after purchasing an additional 416 shares during the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Encore Capital Group in the 4th quarter worth approximately $28,000. Sterling Capital Management LLC grew its stake in shares of Encore Capital Group by 827.2% in the 4th quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager's stock worth $36,000 after purchasing an additional 670 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Encore Capital Group by 5.8% in the 4th quarter. MetLife Investment Management LLC now owns 14,158 shares of the asset manager's stock worth $676,000 after purchasing an additional 771 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Truist Financial lowered their price objective on shares of Encore Capital Group from $64.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. StockNews.com raised shares of Encore Capital Group from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $62.67.

Encore Capital Group Stock Down 1.9%

NASDAQ ECPG traded down $0.75 during trading on Wednesday, reaching $39.02. The company's stock had a trading volume of 14,599 shares, compared to its average volume of 200,955. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The stock has a market capitalization of $911.08 million, a PE ratio of -4.97 and a beta of 1.65. The business has a 50-day moving average price of $34.24 and a 200-day moving average price of $42.68. Encore Capital Group, Inc. has a 1-year low of $26.45 and a 1-year high of $51.77.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last posted its earnings results on Wednesday, May 7th. The asset manager reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.24 by $0.69. The firm had revenue of $392.78 million during the quarter, compared to analysts' expectations of $374.49 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The company's revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. On average, research analysts forecast that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ashish Masih bought 20,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average price of $35.14 per share, with a total value of $702,800.00. Following the completion of the transaction, the chief executive officer now owns 322,254 shares of the company's stock, valued at $11,324,005.56. The trade was a 6.62% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ashwini Gupta bought 40,000 shares of the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were bought at an average cost of $35.10 per share, for a total transaction of $1,404,000.00. Following the transaction, the director now directly owns 96,909 shares of the company's stock, valued at $3,401,505.90. This trade represents a 70.29% increase in their position. The disclosure for this purchase can be found here. 2.54% of the stock is currently owned by insiders.

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.