Encore Capital Group (NASDAQ:ECPG) Shares Pass Above Two Hundred Day Moving Average - What's Next?

Key Points

• Encore Capital Group's shares recently surpassed their 200-day moving average of $37.55, reaching a high of $45.17 before closing at $44.56.
• The company reported an earnings per share (EPS) of $2.49 for the last quarter, significantly exceeding analysts' expectations of $1.44, with revenue also up 24.4% year-over-year.
• Institutional investors have actively adjusted their stakes, with Bank of America lifting its stake by 13.9% and Deutsche Bank increasing its stake by 44.4% recently.

Shares of Encore Capital Group Inc (NASDAQ:ECPG - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $37.55 and traded as high as $45.17. Encore Capital Group shares last traded at $44.56, with a volume of 386,235 shares changing hands.

Encore Capital Group Trading Down 2.0%

The firm has a market capitalization of $1.04 billion, a PE ratio of -12.07 and a beta of 1.52. The company's 50-day simple moving average is $40.80 and its 200 day simple moving average is $37.75. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 4.43.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The asset manager reported $2.49 EPS for the quarter, beating the consensus estimate of $1.44 by $1.05. The business had revenue of $442.12 million during the quarter, compared to analyst estimates of $383.42 million. Encore Capital Group had a negative net margin of 6.07% and a positive return on equity of 19.61%. The company's quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.34 earnings per share. As a group, sell-side analysts expect that Encore Capital Group Inc will post 5.09 EPS for the current year.

Hedge Funds Weigh In On Encore Capital Group

Several hedge funds and other institutional investors have recently modified their holdings of ECPG. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Encore Capital Group by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,317 shares of the asset manager's stock worth $636,000 after buying an additional 460 shares during the last quarter. Sheets Smith Wealth Management raised its position in Encore Capital Group by 3.6% during the 1st quarter. Sheets Smith Wealth Management now owns 14,790 shares of the asset manager's stock worth $507,000 after buying an additional 512 shares during the last quarter. GAMMA Investing LLC raised its position in Encore Capital Group by 345.1% during the 2nd quarter. GAMMA Investing LLC now owns 819 shares of the asset manager's stock worth $32,000 after buying an additional 635 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in Encore Capital Group during the 2nd quarter worth approximately $27,000. Finally, Altfest L J & Co. Inc. raised its position in Encore Capital Group by 7.3% during the 1st quarter. Altfest L J & Co. Inc. now owns 10,429 shares of the asset manager's stock worth $358,000 after buying an additional 713 shares during the last quarter.

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.