Two Sigma Investments LP Has $5.73 Million Stake in Encore Capital Group, Inc. (NASDAQ:ECPG)

Two Sigma Investments LP increased its position in shares of Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 25.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 119,842 shares of the asset manager's stock after acquiring an additional 24,494 shares during the period. Two Sigma Investments LP owned approximately 0.51% of Encore Capital Group worth $5,725,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. raised its holdings in Encore Capital Group by 30.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,416,499 shares of the asset manager's stock worth $67,667,000 after buying an additional 327,637 shares during the period. Portolan Capital Management LLC acquired a new stake in Encore Capital Group during the 4th quarter worth about $10,291,000. Marshall Wace LLP raised its holdings in Encore Capital Group by 73.1% during the 4th quarter. Marshall Wace LLP now owns 318,096 shares of the asset manager's stock worth $15,195,000 after buying an additional 134,309 shares during the period. Norges Bank acquired a new stake in Encore Capital Group during the 4th quarter worth about $3,361,000. Finally, Barclays PLC raised its holdings in Encore Capital Group by 29.4% during the 4th quarter. Barclays PLC now owns 256,002 shares of the asset manager's stock worth $12,228,000 after buying an additional 58,099 shares during the period.

Insider Activity at Encore Capital Group

In related news, Director Ashwini Gupta bought 40,000 shares of Encore Capital Group stock in a transaction that occurred on Wednesday, March 5th. The stock was purchased at an average cost of $35.10 per share, for a total transaction of $1,404,000.00. Following the acquisition, the director now owns 96,909 shares in the company, valued at $3,401,505.90. This trade represents a 70.29% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Ashish Masih purchased 20,000 shares of the business's stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average price of $35.14 per share, with a total value of $702,800.00. Following the completion of the acquisition, the chief executive officer now owns 322,254 shares of the company's stock, valued at approximately $11,324,005.56. The trade was a 6.62% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.63% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ECPG has been the topic of several recent analyst reports. Truist Financial cut 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. Wall Street Zen raised Encore Capital Group from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. One research 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 stock. Based on data from MarketBeat, Encore Capital Group has a consensus rating of "Buy" and a consensus target price of $62.67.

Encore Capital Group Stock Down 0.9%

NASDAQ:ECPG traded down $0.35 on Friday, hitting $37.98. 268,331 shares of the company's stock traded hands, compared to its average volume of 205,371. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 3.39. Encore Capital Group, Inc. has a 1 year low of $26.45 and a 1 year high of $51.77. The firm has a 50-day moving average price of $34.84 and a 200-day moving average price of $42.10. The company has a market cap of $886.80 million, a PE ratio of -4.84 and a beta of 1.65.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The asset manager reported $1.93 EPS for the quarter, beating the consensus estimate of $1.24 by $0.69. The business 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 firm's quarterly revenue was up 19.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.95 EPS. Equities analysts anticipate 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.