ExodusPoint Capital Management LP Sells 8,690 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

ExodusPoint Capital Management LP trimmed its holdings in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 41.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,100 shares of the asset manager's stock after selling 8,690 shares during the quarter. ExodusPoint Capital Management LP owned about 0.05% of Encore Capital Group worth $578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP grew its position in shares of Encore Capital Group by 16.0% during the 3rd quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager's stock worth $35,752,000 after buying an additional 104,509 shares during the period. Norges Bank bought a new position in Encore Capital Group during the fourth quarter worth $3,361,000. Barclays PLC boosted its stake in Encore Capital Group by 22.9% during the third quarter. Barclays PLC now owns 197,903 shares of the asset manager's stock worth $9,355,000 after acquiring an additional 36,822 shares in the last quarter. Jane Street Group LLC grew its holdings in Encore Capital Group by 191.7% in the third quarter. Jane Street Group LLC now owns 49,719 shares of the asset manager's stock worth $2,350,000 after purchasing an additional 32,672 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Encore Capital Group by 6.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,042 shares of the asset manager's stock valued at $24,460,000 after purchasing an additional 30,545 shares in the last quarter.

Insider Buying and Selling at Encore Capital Group

In other news, Director Ashwini Gupta acquired 40,000 shares of Encore Capital Group stock in a transaction that occurred on Wednesday, March 5th. The stock was bought at an average price of $35.10 per share, with a total value of $1,404,000.00. Following the completion of the purchase, the director now owns 96,909 shares in the company, valued at approximately $3,401,505.90. The trade was a 70.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ashish Masih purchased 20,000 shares of Encore Capital Group stock in a transaction dated Wednesday, March 5th. The shares were purchased 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 directly owns 322,254 shares in the company, valued at approximately $11,324,005.56. This represents a 6.62 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.63% of the company's stock.

Encore Capital Group Stock Performance

Shares of NASDAQ:ECPG traded up $0.40 during midday trading on Thursday, reaching $29.91. The company had a trading volume of 40,855 shares, compared to its average volume of 185,275. The stock has a market cap of $708.48 million, a P/E ratio of -3.81 and a beta of 1.58. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. Encore Capital Group, Inc. has a 52-week low of $26.45 and a 52-week high of $51.77. The company's 50 day moving average price is $37.64 and its 200 day moving average price is $44.28.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last issued its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 EPS for the quarter, missing analysts' consensus estimates of $1.55 by ($0.05). Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The firm had revenue of $265.62 million for the quarter, compared to analysts' expectations of $373.40 million. As a group, sell-side analysts anticipate that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

Analysts Set New Price Targets

ECPG has been the subject of several research reports. StockNews.com upgraded Encore Capital Group from a "sell" rating to a "hold" rating in a research note on Tuesday. Truist Financial reduced their price objective on Encore Capital Group from $64.00 to $57.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Northland Securities upped their target price 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. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $62.67.

Encore Capital Group 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.