Encore Capital Group Inc $ECPG Shares Sold by BloombergSen Inc.

Key Points

• BloombergSen Inc. has decreased its holdings in Encore Capital Group Inc. by 45.1%, selling 362,515 shares, leaving it with 441,063 shares, which account for about 1.0% of its investment portfolio.
• Despite BloombergSen's reduction, other investors like GAMMA Investing LLC and Harbor Capital Advisors Inc. significantly increased their stakes in Encore Capital Group during the same period.
• Encore Capital Group reported a 24.4% year-over-year revenue increase, with earnings per share of $2.49, beating analyst expectations and demonstrating strong financial performance.

BloombergSen Inc. reduced its stake in shares of Encore Capital Group Inc (NASDAQ:ECPG - Free Report) by 45.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 441,063 shares of the asset manager's stock after selling 362,515 shares during the period. Encore Capital Group accounts for about 1.0% of BloombergSen Inc.'s investment portfolio, making the stock its 17th largest position. BloombergSen Inc. owned 1.89% of Encore Capital Group worth $17,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of 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 acquiring an additional 635 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in shares of Encore Capital Group during the 1st quarter valued at $228,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of 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 valued at $236,000 after buying an additional 1,642 shares during the period. Harbor Capital Advisors Inc. grew its stake in shares of Encore Capital Group by 3,327.4% during the 1st quarter. Harbor Capital Advisors Inc. now owns 8,637 shares of the asset manager's stock valued at $296,000 after buying an additional 8,385 shares during the period. Finally, Mackenzie Financial Corp purchased a new stake in shares of Encore Capital Group during the 4th quarter valued at $322,000.

Encore Capital Group Stock Down 2.7%

Shares of NASDAQ ECPG opened at $40.60 on Thursday. Encore Capital Group Inc has a 52-week low of $26.45 and a 52-week high of $51.77. The firm has a fifty day moving average of $41.54 and a 200-day moving average of $38.26. The stock has a market capitalization of $934.21 million, a PE ratio of -10.86 and a beta of 1.48. 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 announced its quarterly earnings data on Wednesday, August 6th. The asset manager reported $2.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $1.05. The company had revenue of $442.12 million during the quarter, compared to analysts' expectations 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 business's quarterly revenue was up 24.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.34 EPS. On average, analysts anticipate that Encore Capital Group Inc will post 5.09 EPS for the current year.

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.

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