Turtle Creek Asset Management Inc. Sells 35,500 Shares of Encore Capital Group, Inc. (NASDAQ:ECPG)

Turtle Creek Asset Management Inc. decreased its holdings in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 1.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,057,143 shares of the asset manager's stock after selling 35,500 shares during the period. Encore Capital Group comprises 2.6% of Turtle Creek Asset Management Inc.'s portfolio, making the stock its 21st largest holding. Turtle Creek Asset Management Inc. owned about 8.68% of Encore Capital Group worth $98,270,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Barclays PLC increased its holdings in Encore Capital Group by 22.9% in the third quarter. Barclays PLC now owns 197,903 shares of the asset manager's stock worth $9,355,000 after buying an additional 36,822 shares during the last quarter. Sheets Smith Wealth Management increased its holdings in Encore Capital Group by 3.0% in the fourth quarter. Sheets Smith Wealth Management now owns 14,278 shares of the asset manager's stock worth $682,000 after buying an additional 416 shares during the last quarter. Janney Capital Management LLC increased its holdings in Encore Capital Group by 35.8% in the fourth quarter. Janney Capital Management LLC now owns 9,754 shares of the asset manager's stock worth $466,000 after buying an additional 2,570 shares during the last quarter. R Squared Ltd acquired a new position in Encore Capital Group in the fourth quarter worth approximately $84,000. Finally, Empowered Funds LLC increased its holdings in Encore Capital Group by 5.1% in the fourth quarter. Empowered Funds LLC now owns 89,104 shares of the asset manager's stock worth $4,256,000 after buying an additional 4,292 shares during the last quarter.

Insiders Place Their Bets

In other Encore Capital Group news, CEO Ashish Masih acquired 20,000 shares of Encore Capital Group stock in a transaction dated Wednesday, March 5th. The stock was bought at an average cost of $35.14 per share, with a total value of $702,800.00. Following the completion of the transaction, the chief executive officer now owns 322,254 shares of the company's stock, valued at $11,324,005.56. The trade was a 6.62% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ashwini Gupta acquired 40,000 shares of Encore Capital Group stock in a transaction dated Wednesday, March 5th. The stock was acquired at an average cost of $35.10 per share, with a total value of $1,404,000.00. Following the completion of the transaction, the director now directly owns 96,909 shares of the company's stock, valued at $3,401,505.90. This trade represents a 70.29% increase in their position. The disclosure for this purchase can be found here. Company insiders own 2.54% of the company's stock.

Encore Capital Group Stock Performance

Encore Capital Group stock traded down $1.41 during trading hours on Wednesday, reaching $38.36. 228,132 shares of the company were exchanged, compared to its average volume of 202,376. The firm has a market cap of $895.67 million, a price-to-earnings ratio of -4.89 and a beta of 1.65. 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 50-day moving average of $34.24 and a 200 day moving average of $42.68. Encore Capital Group, Inc. has a 12 month low of $26.45 and a 12 month high of $51.77.

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 (EPS) for the quarter, topping analysts' consensus estimates of $1.24 by $0.69. The firm had revenue of $392.78 million during the quarter, compared to analysts' expectations 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 revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, research analysts anticipate that Encore Capital Group, Inc. will post 5.09 earnings per share for the current year.

Analyst Upgrades and Downgrades

ECPG has been the topic of a number of research reports. StockNews.com upgraded Encore Capital Group from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Truist Financial dropped their price objective on Encore Capital Group from $64.00 to $57.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently 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.