Bridgeway Capital Management LLC Sells 23,594 Shares of Encore Capital Group Inc $ECPG

Key Points

• Bridgeway Capital Management LLC has decreased its holdings in Encore Capital Group by 10.9% during the first quarter, retaining approximately $6.6 million worth of shares.
• Multiple large investors have altered their positions, with Wellington Management Group increasing their shares by 13.0% and Allianz Asset Management raising theirs by 38.6% in the same quarter.
• Analysts have upgraded Encore Capital Group to a "hold" rating, with a consensus price target of $62.67 and one analyst rating it as a Strong Buy.

Bridgeway Capital Management LLC reduced its position in Encore Capital Group Inc (NASDAQ:ECPG - Free Report) by 10.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 192,410 shares of the asset manager's stock after selling 23,594 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.82% of Encore Capital Group worth $6,596,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the business. Heartland Advisors Inc. bought a new stake in shares of Encore Capital Group during the first quarter valued at approximately $10,118,000. Wellington Management Group LLP increased its holdings in shares of Encore Capital Group by 13.0% in the first quarter. Wellington Management Group LLP now owns 790,392 shares of the asset manager's stock worth $27,095,000 after purchasing an additional 91,019 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Encore Capital Group by 38.6% during the first quarter. Allianz Asset Management GmbH now owns 196,004 shares of the asset manager's stock valued at $6,719,000 after buying an additional 54,568 shares during the last quarter. AQR Capital Management LLC increased its stake in Encore Capital Group by 263.0% in the 1st quarter. AQR Capital Management LLC now owns 68,860 shares of the asset manager's stock worth $2,361,000 after acquiring an additional 49,892 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in shares of Encore Capital Group by 75.4% during the 4th quarter. Two Sigma Advisers LP now owns 87,000 shares of the asset manager's stock worth $4,156,000 after acquiring an additional 37,400 shares in the last quarter.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Encore Capital Group from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus price target of $62.67.

Encore Capital Group Trading Down 0.9%

NASDAQ:ECPG traded down $0.39 during midday trading on Wednesday, hitting $43.43. The stock had a trading volume of 93,409 shares, compared to its average volume of 292,350. The stock has a 50-day moving average of $40.16 and a 200 day moving average of $37.58. The company has a market capitalization of $999.32 million, a price-to-earnings ratio of -11.60 and a beta of 1.52. Encore Capital Group Inc has a one year low of $26.45 and a one year high of $51.77. 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 posted 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.34 EPS. As a group, sell-side analysts forecast that Encore Capital Group Inc will post 5.09 EPS for the current year.

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.