Encore Capital Group, Inc. (NASDAQ:ECPG) Shares Sold by Turtle Creek Asset Management Inc.

Turtle Creek Asset Management Inc. lessened its position in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,057,143 shares of the asset manager's stock after selling 35,500 shares during the quarter. Encore Capital Group makes up about 2.6% of Turtle Creek Asset Management Inc.'s investment 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 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ECPG. Nomura Asset Management Co. Ltd. grew its holdings in shares of Encore Capital Group by 120.8% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager's stock valued at $25,000 after buying an additional 290 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Encore Capital Group during the 4th quarter worth $28,000. Sterling Capital Management LLC boosted its stake in shares of Encore Capital Group by 827.2% in the fourth quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager's stock worth $36,000 after acquiring an additional 670 shares during the period. Huntington National Bank increased its holdings in Encore Capital Group by 152.5% in the 4th quarter. Huntington National Bank now owns 1,333 shares of the asset manager's stock valued at $64,000 after acquiring an additional 805 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Encore Capital Group during the 4th quarter worth approximately $84,000.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ECPG. 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. Truist Financial dropped their price objective on shares of Encore Capital Group from $64.00 to $57.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $62.67.

Insider Buying and Selling

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

Encore Capital Group Trading Down 1.2%

Shares of ECPG traded down $0.48 during mid-day trading on Friday, reaching $38.33. The stock had a trading volume of 55,057 shares, compared to its average volume of 201,915. The business's fifty day moving average is $34.42 and its 200 day moving average is $42.60. The firm has a market cap of $894.97 million, a price-to-earnings ratio of -4.88 and a beta of 1.65. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. Encore Capital Group, Inc. has a 52-week low of $26.45 and a 52-week high of $51.77.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The asset manager reported $1.93 EPS for the quarter, topping the consensus estimate of $1.24 by $0.69. The business had revenue of $392.78 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 19.6% on a year-over-year basis. During the same period last year, the business posted $0.95 earnings per share. On average, sell-side analysts predict that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal 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.