Encore Capital Group Inc $ECPG Shares Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Encore Capital Group stake by 74.2% in the second quarter, selling 20,964 shares and retaining 7,300 shares valued at approximately $681,000.
• Despite the sale, several institutions increased their positions, including Arrowstreet Capital, Amundi and Heartland Advisors; BlackRock also acquired a new stake valued at about $343.2 million.
• Encore reported stronger-than-expected quarterly results, with EPS of $2.81 and revenue of $491.87 million, while analysts maintained an overall “Buy” rating and several raised their price targets.

Engineers Gate Manager LP trimmed its stake in shares of Encore Capital Group Inc (NASDAQ:ECPG - Free Report) by 74.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,300 shares of the asset manager's stock after selling 20,964 shares during the quarter. Engineers Gate Manager LP's holdings in Encore Capital Group were worth $681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BlackRock Inc. acquired a new stake in shares of Encore Capital Group in the 2nd quarter valued at about $343,229,000. Heartland Advisors Inc. increased its holdings in Encore Capital Group by 0.7% in the first quarter. Heartland Advisors Inc. now owns 388,425 shares of the asset manager's stock valued at $27,236,000 after buying an additional 2,595 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in Encore Capital Group by 658.2% during the first quarter. Arrowstreet Capital Limited Partnership now owns 334,018 shares of the asset manager's stock valued at $23,421,000 after buying an additional 289,964 shares in the last quarter. Amundi raised its stake in Encore Capital Group by 3,134.1% during the second quarter. Amundi now owns 304,202 shares of the asset manager's stock valued at $28,379,000 after buying an additional 294,796 shares in the last quarter. Finally, Hillsdale Investment Management Inc. lifted its holdings in Encore Capital Group by 4.2% during the 1st quarter. Hillsdale Investment Management Inc. now owns 142,838 shares of the asset manager's stock worth $10,016,000 after buying an additional 5,700 shares during the last quarter.

Encore Capital Group Stock Down 0.2%

Shares of Encore Capital Group stock opened at $99.37 on Tuesday. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of 7.52 and a beta of 1.27. Encore Capital Group Inc has a twelve month low of $39.94 and a twelve month high of $104.98. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 3.87. The business's 50 day simple moving average is $96.64 and its 200-day simple moving average is $85.56.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The asset manager reported $2.81 EPS for the quarter, topping analysts' consensus estimates of $2.67 by $0.14. Encore Capital Group had a return on equity of 29.83% and a net margin of 15.86%.The firm had revenue of $491.87 million during the quarter, compared to the consensus estimate of $455.10 million. During the same period in the prior year, the business earned $2.49 EPS. The firm's revenue was up 11.3% on a year-over-year basis. Encore Capital Group has set its FY 2026 guidance at 13.000-14.000 EPS. Equities research analysts forecast that Encore Capital Group Inc will post 13.52 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ECPG. Citizens Jmp boosted their price target on Encore Capital Group from $108.00 to $115.00 and gave the company a "market outperform" rating in a report on Wednesday, June 17th. Weiss Ratings raised shares of Encore Capital Group from a "hold (c)" rating to a "buy (b-)" rating in a report on Monday, August 3rd. Zacks Research upgraded shares of Encore Capital Group from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Truist Financial increased their target price on shares of Encore Capital Group from $105.00 to $112.00 and gave the stock a "buy" rating in a report on Thursday, August 6th. Finally, Citigroup restated a "market outperform" rating on shares of Encore Capital Group in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating and five have issued a Buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $89.75.

Encore Capital Group Company Profile

Encore Capital Group, Inc is a global specialty finance company that purchases and manages portfolios of charged-off consumer receivables. The company acquires accounts from banks, credit unions, telecommunications providers and other credit issuers, then works with consumers to resolve their outstanding obligations through repayment programs and other account-management solutions.

Encore conducts its consumer debt recovery activities through brands and operating businesses including Midland Credit Management in the United States and Cabot Credit Management in Europe.

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