Wellington Management Group LLP Has $33.41 Million Stock Holdings in Encore Capital Group, Inc. (NASDAQ:ECPG)

Wellington Management Group LLP trimmed its position in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 7.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 699,373 shares of the asset manager's stock after selling 56,962 shares during the quarter. Wellington Management Group LLP owned approximately 2.95% of Encore Capital Group worth $33,409,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ECPG. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Encore Capital Group by 30.1% in the fourth 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 purchased a new stake in shares of Encore Capital Group in the fourth quarter worth approximately $10,291,000. Marshall Wace LLP lifted its position in shares of Encore Capital Group by 73.1% in the fourth quarter. Marshall Wace LLP now owns 318,096 shares of the asset manager's stock worth $15,195,000 after purchasing an additional 134,309 shares in the last quarter. Norges Bank purchased a new stake in shares of Encore Capital Group in the fourth quarter worth approximately $3,361,000. Finally, Barclays PLC lifted its position in shares of Encore Capital Group by 29.4% in the fourth quarter. Barclays PLC now owns 256,002 shares of the asset manager's stock worth $12,228,000 after purchasing an additional 58,099 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts recently weighed in on ECPG shares. Truist Financial cut 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 report on Thursday, February 27th. Wall Street Zen upgraded shares of Encore Capital Group from a "sell" rating to a "hold" rating in a research note on Tuesday, May 13th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $62.67.

Encore Capital Group Stock Performance

NASDAQ:ECPG traded down $0.27 during trading hours on Wednesday, hitting $38.10. 55,140 shares of the company traded hands, compared to its average volume of 205,369. The stock has a market capitalization of $889.60 million, a price-to-earnings ratio of -4.85 and a beta of 1.65. Encore Capital Group, Inc. has a twelve month low of $26.45 and a twelve month high of $51.77. The firm has a 50-day moving average of $34.95 and a 200 day moving average of $41.95. 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 (NASDAQ:ECPG - Get Free Report) last released its 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 firm had revenue of $392.78 million during the quarter, compared to analysts' expectations of $374.49 million. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The business's quarterly revenue was up 19.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.95 EPS. On average, analysts forecast that Encore Capital Group, Inc. will post 5.09 EPS for the current year.

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.