Hsbc Holdings PLC Grows Stock Position in Encore Capital Group Inc $ECPG

Key Points

• Hsbc Holdings PLC increased its stake in Encore Capital Group by 244.8% during the first quarter, now owning approximately 0.07% of the company, valued at $600,000.
• Encore Capital Group reported a quarterly EPS of $2.49, significantly above the expected $1.44, and its revenue increased by 24.4% year-over-year to $442.12 million.
• Wall Street analysts have upgraded Encore Capital Group's rating from "sell" to "hold," with a current consensus price target of $62.67 and a majority rating of "Buy."

Hsbc Holdings PLC raised its holdings in Encore Capital Group Inc (NASDAQ:ECPG - Free Report) by 244.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,428 shares of the asset manager's stock after buying an additional 12,373 shares during the quarter. Hsbc Holdings PLC owned approximately 0.07% of Encore Capital Group worth $600,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ECPG. Corton Capital Inc. purchased a new position in shares of Encore Capital Group during the 4th quarter worth about $208,000. Quantinno Capital Management LP acquired a new position in Encore Capital Group during the fourth quarter worth approximately $211,000. GAMMA Investing LLC raised its stake in Encore Capital Group by 2,834.0% during the first quarter. GAMMA Investing LLC now owns 6,308 shares of the asset manager's stock worth $216,000 after purchasing an additional 6,093 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in shares of Encore Capital Group in the 1st quarter valued at $228,000. Finally, 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.

Encore Capital Group Stock Performance

Shares of ECPG stock opened at $41.84 on Monday. The company's fifty day simple moving average is $39.65 and its 200-day simple moving average is $37.85. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 4.43. Encore Capital Group Inc has a 52 week low of $26.45 and a 52 week high of $51.77. The company has a market cap of $962.74 million, a PE ratio of -11.19 and a beta of 1.52.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The asset manager reported $2.49 EPS for the quarter, beating the consensus estimate of $1.44 by $1.05. Encore Capital Group had a positive return on equity of 19.61% and a negative net margin of 6.07%.The company had revenue of $442.12 million for the quarter, compared to analyst estimates of $383.42 million. During the same period last year, the company posted $1.34 earnings per share. The firm's revenue was up 24.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Encore Capital Group Inc will post 5.09 EPS for the current year.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded 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 assigned a Buy rating to the stock. Based on data from MarketBeat.com, Encore Capital Group presently has an average rating of "Buy" and a consensus price target of $62.67.

About Encore Capital Group

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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