Encore Capital Group (NASDAQ:ECPG) Director Sells $1,184,974.49 in Stock

Key Points

• Director Laura Olle sold 10,493 Encore Capital shares for about $1.185 million at an average price of $112.93, reducing her direct stake by 28.23% to 26,675 shares.
• Encore reported quarterly EPS of $5.57, beating the $3.35 consensus estimate, while revenue of $544.54 million topped forecasts and rose 18.3% year over year.
• Shares fell 2.2% in Thursday mid-day trading to $109.86. Analysts maintained a generally positive outlook, with a consensus “Buy” rating and average target price of $128.67.

Encore Capital Group Inc (NASDAQ:ECPG - Get Free Report) Director Laura Olle sold 10,493 shares of the business's stock in a transaction on Monday, November 9th. The shares were sold at an average price of $112.93, for a total transaction of $1,184,974.49. Following the sale, the director directly owned 26,675 shares of the company's stock, valued at $3,012,407.75. This represents a 28.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Encore Capital Group Trading Down 2.2%

Shares of NASDAQ ECPG traded down $2.49 during mid-day trading on Thursday, reaching $109.86. The company had a trading volume of 172,910 shares, compared to its average volume of 305,290. The business's 50-day moving average is $100.72 and its 200-day moving average is $85.04. The company has a current ratio of 0.62, a quick ratio of 0.62 and a debt-to-equity ratio of 3.93. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 7.04 and a beta of 1.29. Encore Capital Group Inc has a 52 week low of $47.49 and a 52 week high of $126.74.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last announced its quarterly earnings data on Wednesday, November 4th. The asset manager reported $5.57 earnings per share for the quarter, beating analysts' consensus estimates of $3.35 by $2.22. Encore Capital Group had a net margin of 17.67% and a return on equity of 33.67%. The company had revenue of $544.54 million during the quarter, compared to analyst estimates of $466.80 million. During the same quarter last year, the business posted $3.17 EPS. The firm's revenue for the quarter was up 18.3% on a year-over-year basis. Equities analysts expect that Encore Capital Group Inc will post 16.11 earnings per share for the current year.

Institutional Investors Weigh In On Encore Capital Group

A number of hedge funds and other institutional investors have recently bought and sold shares of ECPG. Signaturefd LLC increased its position in shares of Encore Capital Group by 185.9% during the third quarter. Signaturefd LLC now owns 366 shares of the asset manager's stock worth $35,000 after purchasing an additional 238 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of Encore Capital Group by 40.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 386 shares of the asset manager's stock worth $36,000 after purchasing an additional 111 shares in the last quarter. USA Financial Formulas acquired a new stake in shares of Encore Capital Group in the 1st quarter worth $46,000. Public Employees Retirement System of Ohio purchased a new position in Encore Capital Group during the 2nd quarter worth $89,000. Finally, GAMMA Investing LLC grew its stake in Encore Capital Group by 26.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,339 shares of the asset manager's stock worth $126,000 after buying an additional 283 shares during the last quarter.

Analyst Ratings Changes

Several research analysts have issued reports on ECPG shares. Zacks Research upgraded shares of Encore Capital Group from a "hold" rating to a "strong-buy" rating in a report on Friday, November 6th. Truist Financial boosted their price target on shares of Encore Capital Group from $112.00 to $122.00 and gave the company a "buy" rating in a report on Thursday, November 5th. Citizens Jmp upped their price target on shares of Encore Capital Group from $115.00 to $140.00 and gave the stock a "market outperform" rating in a research report on Thursday, November 5th. Weiss Ratings upgraded shares of Encore Capital Group from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, October 8th. Finally, Northland Securities set a $124.00 price objective on shares of Encore Capital Group in a research note on Tuesday, October 13th. One analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the company's stock. According to data from MarketBeat, Encore Capital Group presently has a consensus rating of "Buy" and a consensus target price of $128.67.

Encore Capital Group Company Profile

Encore Capital Group NASDAQ: ECPG is a specialty finance company that purchases portfolios of charged-off consumer debt and works to recover amounts owed. Its activities include managing repayment arrangements and providing customer support through its own operations and service providers. The company operates through businesses including Midland Credit Management in the United States and Cabot Credit Management in the United Kingdom and other European markets. Its operations also include customer-service and support functions in India.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.