BloombergSen Inc. Trims Stock Position in Encore Capital Group Inc (NASDAQ:ECPG)

Key Points

• BloombergSen Inc. has reduced its holdings in Encore Capital Group by 11.0%, selling 98,910 shares and now owning 803,578 shares, which account for approximately 1.7% of its total holdings.
• A recent report upgraded Encore Capital Group from a "sell" to a "hold" rating, with an average target price of $62.67 and one analyst rating it as a "strong buy."
• Encore Capital Group reported $1.93 EPS for the quarter, significantly exceeding analysts' expectations of $1.24, alongside a revenue increase of 19.6% year-over-year.

BloombergSen Inc. cut its holdings in Encore Capital Group Inc (NASDAQ:ECPG - Free Report) by 11.0% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 803,578 shares of the asset manager's stock after selling 98,910 shares during the period. Encore Capital Group makes up approximately 1.7% of BloombergSen Inc.'s investment portfolio, making the stock its 15th largest position. BloombergSen Inc. owned about 3.43% of Encore Capital Group worth $27,547,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Homestead Advisers Corp boosted its stake in shares of Encore Capital Group by 15.2% in the 1st quarter. Homestead Advisers Corp now owns 133,983 shares of the asset manager's stock valued at $4,593,000 after purchasing an additional 17,700 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Encore Capital Group during the 1st quarter worth approximately $228,000. Allianz Asset Management GmbH raised its holdings in Encore Capital Group by 38.6% during the 1st quarter. Allianz Asset Management GmbH now owns 196,004 shares of the asset manager's stock worth $6,719,000 after purchasing an additional 54,568 shares during the last quarter. Stephens Investment Management Group LLC grew its position in shares of Encore Capital Group by 0.6% during the 1st quarter. Stephens Investment Management Group LLC now owns 1,144,464 shares of the asset manager's stock worth $39,232,000 after buying an additional 7,010 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of Encore Capital Group by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 117,967 shares of the asset manager's stock worth $4,044,000 after buying an additional 3,105 shares during the period.

Encore Capital Group Price Performance

Shares of ECPG stock traded down $0.31 during trading hours on Monday, reaching $38.30. The stock had a trading volume of 67,336 shares, compared to its average volume of 285,014. The stock's fifty day simple moving average is $39.00 and its 200 day simple moving average is $39.49. The company has a current ratio of 0.80, a quick ratio of 0.80 and a debt-to-equity ratio of 4.63. Encore Capital Group Inc has a 12 month low of $26.45 and a 12 month high of $51.77. The firm has a market capitalization of $894.27 million, a PE ratio of -7.81 and a beta of 1.59.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last announced its earnings results on Wednesday, May 7th. The asset manager reported $1.93 earnings per share for the quarter, beating analysts' consensus estimates of $1.24 by $0.69. The business had revenue of $392.78 million for the quarter, compared to the consensus estimate of $374.49 million. Encore Capital Group had a negative net margin of 8.38% and a positive return on equity of 16.18%. Encore Capital Group's quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the firm posted $0.95 earnings per share. On average, equities research analysts predict that Encore Capital Group Inc will post 5.09 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Encore Capital Group from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. One investment analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Encore Capital Group has a consensus rating of "Buy" and an average 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.