Mackenzie Financial Corp Purchases Shares of 6,743 Encore Capital Group, Inc. (NASDAQ:ECPG)

Mackenzie Financial Corp bought a new stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 6,743 shares of the asset manager's stock, valued at approximately $322,000.

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

Encore Capital Group Stock Up 3.1%

Encore Capital Group stock traded up $1.16 during mid-day trading on Friday, hitting $38.41. 160,297 shares of the company's stock were exchanged, compared to its average volume of 206,675. Encore Capital Group, Inc. has a 1-year low of $26.45 and a 1-year high of $51.77. The stock has a 50 day moving average of $35.09 and a two-hundred day moving average of $41.85. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. The stock has a market cap of $896.84 million, a P/E ratio of -4.89 and a beta of 1.65.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The asset manager reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.69. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The business had revenue of $392.78 million for the quarter, compared to analyst estimates of $374.49 million. During the same quarter in the prior year, the firm posted $0.95 EPS. The firm's revenue for the quarter was up 19.6% on a year-over-year basis. As a group, analysts anticipate that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ECPG has been the subject of a number of recent research reports. Truist Financial cut their price target on Encore Capital Group from $64.00 to $57.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. 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 hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $62.67.

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.