Encore Capital Group Inc $ECPG Shares Purchased by Wellington Management Group LLP

Key Points

• Wellington Management Group LLP has increased its position in Encore Capital Group Inc by 13.0%, holding approximately 790,392 shares valued at $27.10 million.
• Encore Capital Group reported earnings per share of $2.49 for the last quarter, significantly exceeding analyst estimates of $1.44.
• Analysts have raised Encore Capital's average price target to $62.67, with one rating it as a Strong Buy and three as Buy.

Wellington Management Group LLP increased its position in shares of Encore Capital Group Inc (NASDAQ:ECPG - Free Report) by 13.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 790,392 shares of the asset manager's stock after buying an additional 91,019 shares during the period. Wellington Management Group LLP owned 3.39% of Encore Capital Group worth $27,095,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in ECPG. Wells Fargo & Company MN boosted its holdings in Encore Capital Group by 23.9% during the fourth quarter. Wells Fargo & Company MN now owns 15,321 shares of the asset manager's stock worth $732,000 after buying an additional 2,953 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Encore Capital Group by 5.8% during the fourth quarter. MetLife Investment Management LLC now owns 14,158 shares of the asset manager's stock valued at $676,000 after purchasing an additional 771 shares in the last quarter. Hsbc Holdings PLC purchased a new position in Encore Capital Group during the fourth quarter valued at $241,000. Price T Rowe Associates Inc. MD lifted its holdings in Encore Capital Group by 7.8% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 20,575 shares of the asset manager's stock valued at $983,000 after purchasing an additional 1,489 shares in the last quarter. Finally, Aquatic Capital Management LLC lifted its holdings in Encore Capital Group by 2,576.7% during the fourth quarter. Aquatic Capital Management LLC now owns 8,030 shares of the asset manager's stock valued at $384,000 after purchasing an additional 7,730 shares in the last quarter.

Encore Capital Group Price Performance

Shares of NASDAQ:ECPG traded up $0.42 during midday trading on Friday, hitting $41.84. The company's stock had a trading volume of 283,598 shares, compared to its average volume of 311,824. The business's 50 day simple moving average is $39.65 and its 200 day simple moving average is $37.93. The company has a debt-to-equity ratio of 4.43, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $962.74 million, a P/E ratio of -11.19 and a beta of 1.59. 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 posted its quarterly earnings results on Wednesday, August 6th. The asset manager reported $2.49 earnings per share for the quarter, topping the consensus estimate of $1.44 by $1.05. The firm had revenue of $442.12 million for the quarter, compared to the consensus estimate of $383.42 million. Encore Capital Group had a negative net margin of 6.07% and a positive return on equity of 19.61%. The company's revenue for the quarter was up 24.4% on a year-over-year basis. During the same period last year, the firm posted $1.34 earnings per share. On average, analysts forecast that Encore Capital Group Inc will post 5.09 EPS for the current year.

Analyst Upgrades and Downgrades

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

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.