Public Sector Pension Investment Board Has $2.57 Million Holdings in Encore Capital Group Inc $ECPG

Key Points

• The Public Sector Pension Investment Board increased its stake in Encore Capital Group Inc by 27.3% in Q1, acquiring a total of 75,095 shares valued at approximately $2.57 million.
• Wall Street analysts upgraded Encore Capital Group's rating from "sell" to "hold", with an average consensus target price of $62.67 based on positive performance forecasts.
• Encore Capital Group reported $2.49 EPS for the latest quarter, exceeding estimates by $1.05 and showing a 24.4% increase in year-over-year revenue.

Public Sector Pension Investment Board grew its position in Encore Capital Group Inc (NASDAQ:ECPG - Free Report) by 27.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,095 shares of the asset manager's stock after purchasing an additional 16,096 shares during the period. Public Sector Pension Investment Board owned approximately 0.32% of Encore Capital Group worth $2,574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Encore Capital Group by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,317 shares of the asset manager's stock valued at $636,000 after buying an additional 460 shares in the last quarter. Sheets Smith Wealth Management increased its stake in Encore Capital Group by 3.6% during the first quarter. Sheets Smith Wealth Management now owns 14,790 shares of the asset manager's stock valued at $507,000 after purchasing an additional 512 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of Encore Capital Group by 827.2% during the fourth quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager's stock worth $36,000 after purchasing an additional 670 shares during the period. Altfest L J & Co. Inc. boosted its stake in Encore Capital Group by 7.3% in the first quarter. Altfest L J & Co. Inc. now owns 10,429 shares of the asset manager's stock valued at $358,000 after acquiring an additional 713 shares during the period. Finally, MetLife Investment Management LLC raised its position in shares of Encore Capital Group by 5.8% during the 4th quarter. MetLife Investment Management LLC now owns 14,158 shares of the asset manager's stock worth $676,000 after purchasing an additional 771 shares during the period.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of Encore Capital Group from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to MarketBeat.com, Encore Capital Group has an average rating of "Buy" and a consensus target price of $62.67.

Encore Capital Group Trading Up 4.2%

Shares of ECPG traded up $1.69 during midday trading on Friday, hitting $42.25. The stock had a trading volume of 357,275 shares, compared to its average volume of 306,612. Encore Capital Group Inc has a fifty-two week low of $26.45 and a fifty-two week high of $51.77. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 4.43. The firm has a market cap of $972.17 million, a P/E ratio of -11.30 and a beta of 1.59. The business has a 50-day simple moving average of $39.33 and a two-hundred day simple moving average of $38.31.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The asset manager reported $2.49 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $442.12 million during the quarter, compared to analyst estimates of $383.42 million. During the same period last year, the company posted $1.34 EPS. The business's quarterly revenue was up 24.4% compared to the same quarter last year. As a group, equities analysts forecast that Encore Capital Group Inc will post 5.09 EPS for the current year.

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.