Wedge Capital Management L L P NC Raises Stake in Encore Capital Group, Inc. (NASDAQ:ECPG)

Wedge Capital Management L L P NC boosted its position in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 57.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 20,029 shares of the asset manager's stock after acquiring an additional 7,287 shares during the period. Wedge Capital Management L L P NC owned 0.08% of Encore Capital Group worth $687,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ECPG. Bank of America Corp DE raised its position in Encore Capital Group by 13.9% in the 4th quarter. Bank of America Corp DE now owns 67,268 shares of the asset manager's stock worth $3,213,000 after buying an additional 8,213 shares during the last quarter. Man Group plc purchased a new position in shares of Encore Capital Group in the 4th quarter worth $405,000. Deutsche Bank AG raised its position in Encore Capital Group by 44.4% during the fourth quarter. Deutsche Bank AG now owns 21,535 shares of the asset manager's stock valued at $1,029,000 after purchasing an additional 6,619 shares during the period. Sigma Planning Corp lifted its position in Encore Capital Group by 317.0% in the fourth quarter. Sigma Planning Corp now owns 13,080 shares of the asset manager's stock worth $625,000 after buying an additional 9,943 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Encore Capital Group by 6.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,042 shares of the asset manager's stock worth $24,460,000 after purchasing an additional 30,545 shares during the period.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wall Street Zen upgraded Encore Capital Group from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. Truist Financial dropped their target price on shares of Encore Capital Group from $64.00 to $57.00 and set a "buy" rating for the company in a report on Thursday, February 27th. One analyst has rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $62.67.

Encore Capital Group Stock Performance

ECPG stock traded down $0.78 during trading on Friday, hitting $38.08. The company had a trading volume of 105,250 shares, compared to its average volume of 209,392. The firm has a market cap of $889.01 million, a PE ratio of -4.85 and a beta of 1.61. The firm has a 50-day moving average price of $35.67 and a 200-day moving average price of $41.51. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. Encore Capital Group, Inc. has a 1-year low of $26.45 and a 1-year high of $51.77.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The asset manager reported $1.93 EPS for the quarter, topping the consensus estimate of $1.24 by $0.69. The business had revenue of $392.78 million for the quarter, compared to analyst estimates of $374.49 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.95 EPS. On average, analysts expect that Encore Capital Group, Inc. will post 5.09 earnings per share 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.