Encore Capital Group Inc $ECPG Shares Sold by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. reduced its stake in Encore Capital Group by 9.0%, selling 126,973 shares, and now owns approximately 1,289,526 shares valued at $44.2 million.
• Wall Street analysts have upgraded Encore Capital's rating from "sell" to "hold", with a consensus rating of "Buy" and a price target of $62.67.
• Encore Capital reported earnings of $2.49 per share for the last quarter, exceeding expectations and marking a 24.4% increase in revenue year-over-year.

T. Rowe Price Investment Management Inc. lowered its holdings in shares of Encore Capital Group Inc (NASDAQ:ECPG - Free Report) by 9.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,289,526 shares of the asset manager's stock after selling 126,973 shares during the quarter. T. Rowe Price Investment Management Inc. owned 5.52% of Encore Capital Group worth $44,205,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Corton Capital Inc. bought a new position in Encore Capital Group during the fourth quarter valued at $208,000. Quantinno Capital Management LP purchased a new position in Encore Capital Group in the 4th quarter worth about $211,000. GAMMA Investing LLC increased its stake in Encore Capital Group by 2,834.0% in the 1st quarter. GAMMA Investing LLC now owns 6,308 shares of the asset manager's stock worth $216,000 after buying an additional 6,093 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in Encore Capital Group in the 1st quarter worth about $228,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Encore Capital Group by 31.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,880 shares of the asset manager's stock worth $236,000 after acquiring an additional 1,642 shares in the last quarter.

Encore Capital Group Stock Performance

NASDAQ:ECPG traded up $0.12 during trading hours on Friday, hitting $41.54. 43,461 shares of the company were exchanged, compared to its average volume of 287,710. The stock has a market capitalization of $955.90 million, a price-to-earnings ratio of -11.10 and a beta of 1.59. Encore Capital Group Inc has a 52-week low of $26.45 and a 52-week high of $51.77. The company has a debt-to-equity ratio of 4.43, a current ratio of 0.81 and a quick ratio of 0.81. The company's 50 day moving average price is $39.59 and its 200-day moving average price is $38.08.

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

Analyst Upgrades and Downgrades

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