Lighthouse Investment Partners LLC Invests $1.04 Million in Encore Capital Group, Inc. (NASDAQ:ECPG)

Lighthouse Investment Partners LLC purchased a new position in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,826 shares of the asset manager's stock, valued at approximately $1,043,000. Lighthouse Investment Partners LLC owned about 0.09% of Encore Capital Group at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ECPG. Barclays PLC raised its stake in shares of Encore Capital Group by 22.9% in the third quarter. Barclays PLC now owns 197,903 shares of the asset manager's stock worth $9,355,000 after purchasing an additional 36,822 shares during the last quarter. Sheets Smith Wealth Management raised its stake in shares of Encore Capital Group by 3.0% in the fourth quarter. Sheets Smith Wealth Management now owns 14,278 shares of the asset manager's stock worth $682,000 after purchasing an additional 416 shares during the last quarter. Janney Capital Management LLC raised its stake in shares of Encore Capital Group by 35.8% in the fourth quarter. Janney Capital Management LLC now owns 9,754 shares of the asset manager's stock worth $466,000 after purchasing an additional 2,570 shares during the last quarter. R Squared Ltd purchased a new position in shares of Encore Capital Group in the fourth quarter worth $84,000. Finally, Empowered Funds LLC raised its stake in shares of Encore Capital Group by 5.1% in the fourth quarter. Empowered Funds LLC now owns 89,104 shares of the asset manager's stock worth $4,256,000 after purchasing an additional 4,292 shares during the last quarter.

Insider Buying and Selling at Encore Capital Group

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

Encore Capital Group Stock Performance

Encore Capital Group stock traded down $0.46 during mid-day trading on Tuesday, reaching $39.49. 29,081 shares of the stock traded hands, compared to its average volume of 200,578. The stock has a market capitalization of $922.15 million, a PE ratio of -5.04 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 12-month low of $26.45 and a 12-month high of $51.77. The business's 50-day moving average is $34.09 and its 200-day moving average is $42.70.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The asset manager reported $1.93 EPS for the quarter, beating analysts' consensus estimates of $1.24 by $0.69. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company had revenue of $392.78 million during the quarter, compared to analysts' expectations of $374.49 million. During the same quarter in the prior year, the business earned $0.95 earnings per share. Encore Capital Group's revenue for the quarter was up 19.6% compared to the same quarter last year. As a group, sell-side analysts predict that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

Analyst Ratings Changes

ECPG has been the subject of a number of research reports. StockNews.com upgraded Encore Capital Group from a "sell" rating to a "hold" rating in a research report on Tuesday, May 13th. Truist Financial reduced their price objective on Encore Capital Group from $64.00 to $57.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. One 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 stock. According to data from MarketBeat.com, Encore Capital Group currently has an average rating of "Buy" and an average target price of $62.67.

Encore Capital Group 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.