Encore Capital Group Inc $ECPG Stake Lessened by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. significantly reduced its stake in Encore Capital Group Inc by 88.4%, now holding only 5,665 shares after selling 43,343 shares.
• Despite the stake reduction by Russell, other institutional investors like Bank of America and Deutsche Bank have increased their holdings, indicating mixed sentiment towards the stock.
• Encore Capital Group reported a quarterly EPS of $2.49, exceeding expectations, with revenue increasing 24.4% year-over-year, showcasing strong operational performance.

Russell Investments Group Ltd. cut its stake in Encore Capital Group Inc (NASDAQ:ECPG - Free Report) by 88.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,665 shares of the asset manager's stock after selling 43,343 shares during the period. Russell Investments Group Ltd.'s holdings in Encore Capital Group were worth $194,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of America Corp DE boosted its holdings in shares of Encore Capital Group by 13.9% in the fourth quarter. Bank of America Corp DE now owns 67,268 shares of the asset manager's stock valued at $3,213,000 after acquiring an additional 8,213 shares in the last quarter. Illinois Municipal Retirement Fund boosted its holdings in shares of Encore Capital Group by 10.7% in the first quarter. Illinois Municipal Retirement Fund now owns 14,056 shares of the asset manager's stock valued at $482,000 after acquiring an additional 1,358 shares in the last quarter. Man Group plc bought a new position in shares of Encore Capital Group in the fourth quarter valued at approximately $405,000. Deutsche Bank AG boosted its holdings in shares of Encore Capital Group by 44.4% in the fourth quarter. Deutsche Bank AG now owns 21,535 shares of the asset manager's stock valued at $1,029,000 after acquiring an additional 6,619 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Encore Capital Group by 2,834.0% in the first quarter. GAMMA Investing LLC now owns 6,308 shares of the asset manager's stock valued at $216,000 after acquiring an additional 6,093 shares in the last quarter.

Encore Capital Group Stock Down 0.2%

Shares of NASDAQ:ECPG opened at $41.76 on Wednesday. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $960.90 million, a PE ratio of -11.17 and a beta of 1.52. Encore Capital Group Inc has a 52 week low of $26.45 and a 52 week high of $51.77. The firm has a 50 day simple moving average of $39.76 and a 200 day simple moving average of $37.82.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last issued 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 the consensus estimate 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 firm's quarterly revenue was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.34 EPS. As a group, research analysts expect that Encore Capital Group Inc will post 5.09 earnings per share for the current year.

Wall Street Analyst Weigh In

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 analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $62.67.

Encore Capital Group Company 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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