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

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

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Encore Capital Group by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 2,588,969 shares of the asset manager's stock worth $123,675,000 after buying an additional 16,663 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Encore Capital Group by 30.1% during 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 last quarter. Charles Schwab Investment Management Inc. raised its stake in Encore Capital Group by 6.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 512,042 shares of the asset manager's stock worth $24,460,000 after buying an additional 30,545 shares during the last quarter. Clearbridge Investments LLC raised its stake in Encore Capital Group by 0.5% during the fourth quarter. Clearbridge Investments LLC now owns 387,550 shares of the asset manager's stock worth $18,513,000 after buying an additional 1,968 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in Encore Capital Group by 5.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 319,210 shares of the asset manager's stock worth $15,249,000 after buying an additional 16,180 shares during the last quarter.

Encore Capital Group Stock Down 0.9%

ECPG traded down $0.35 during midday trading on Friday, hitting $40.52. The company had a trading volume of 163,098 shares, compared to its average volume of 201,225. Encore Capital Group, Inc. has a 52 week low of $26.45 and a 52 week high of $51.77. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 3.39. The company has a market capitalization of $946.10 million, a price-to-earnings ratio of -5.16 and a beta of 1.65. The stock's 50 day moving average price is $33.94 and its 200 day moving average price is $42.79.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The asset manager reported $1.93 earnings per share 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 the consensus estimate 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 revenue was up 19.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.95 earnings per share. On average, research analysts anticipate that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ECPG shares. StockNews.com raised shares of Encore Capital Group from a "sell" rating to a "hold" rating in a research note on Tuesday. Truist Financial decreased their price target on shares of 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 assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Encore Capital Group has a consensus rating of "Buy" and a consensus target price of $62.67.

Insider Transactions at Encore Capital Group

In other Encore Capital Group news, CEO Ashish Masih bought 20,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The stock was bought 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ashwini Gupta bought 40,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were acquired at an average cost of $35.10 per share, with a total value of $1,404,000.00. Following the completion of the transaction, the director now owns 96,909 shares of the company's stock, valued at $3,401,505.90. This represents a 70.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.54% of the stock is currently owned by insiders.

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.