No Street GP LP Decreases Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

No Street GP LP trimmed its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 72.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 135,698 shares of the asset manager's stock after selling 364,302 shares during the period. Encore Capital Group makes up 0.4% of No Street GP LP's investment portfolio, making the stock its 26th largest holding. No Street GP LP owned about 0.57% of Encore Capital Group worth $6,482,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ECPG. Nomura Asset Management Co. Ltd. increased its position in shares of Encore Capital Group by 120.8% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 530 shares of the asset manager's stock valued at $25,000 after purchasing an additional 290 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Encore Capital Group during the 4th quarter valued at about $28,000. Sterling Capital Management LLC grew its stake in Encore Capital Group by 827.2% in the 4th quarter. Sterling Capital Management LLC now owns 751 shares of the asset manager's stock worth $36,000 after buying an additional 670 shares in the last quarter. Huntington National Bank boosted its stake in Encore Capital Group by 152.5% in the fourth quarter. Huntington National Bank now owns 1,333 shares of the asset manager's stock worth $64,000 after buying an additional 805 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in Encore Capital Group in the fourth quarter worth approximately $84,000.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Director Ashwini Gupta acquired 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, with a total value of $1,404,000.00. Following the purchase, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ashish Masih acquired 20,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were acquired at an average cost of $35.14 per share, with a total value of $702,800.00. Following the completion of the transaction, the chief executive officer now directly owns 322,254 shares in the company, valued at approximately $11,324,005.56. The trade was 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 Trading Down 1.1%

ECPG stock traded down $0.45 during mid-day trading on Monday, reaching $40.07. The company had a trading volume of 51,313 shares, compared to its average volume of 200,763. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. The company has a market capitalization of $935.59 million, a PE ratio of -5.10 and a beta of 1.65. The firm has a 50 day moving average of $33.94 and a 200 day moving average of $42.74. 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 released its quarterly earnings data on Wednesday, May 7th. The asset manager reported $1.93 earnings per share for the quarter, topping analysts' consensus estimates of $1.24 by $0.69. Encore Capital Group had a negative net margin of 13.91% and a positive return on equity of 12.70%. The company had revenue of $392.78 million during the quarter, compared to analyst estimates of $374.49 million. During the same period in the prior year, the firm earned $0.95 earnings per share. The firm's revenue for the quarter was up 19.6% compared to the same quarter last year. On average, equities analysts predict that Encore Capital Group, Inc. will post 5.09 earnings per share 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.