Northern Trust Corp Trims Stake in Encore Capital Group, Inc. (NASDAQ:ECPG)

Northern Trust Corp cut its holdings in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 22.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 286,863 shares of the asset manager's stock after selling 82,251 shares during the period. Northern Trust Corp owned approximately 1.21% of Encore Capital Group worth $13,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Barclays PLC raised its stake in Encore Capital Group by 22.9% during the 3rd quarter. Barclays PLC now owns 197,903 shares of the asset manager's stock worth $9,355,000 after buying an additional 36,822 shares during the period. Sheets Smith Wealth Management boosted its holdings 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 acquiring an additional 416 shares during the period. Janney Capital Management LLC raised its position 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 buying an additional 2,570 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Encore Capital Group in the fourth quarter worth $84,000. Finally, Empowered Funds LLC raised its position in Encore Capital Group by 5.1% during the fourth quarter. Empowered Funds LLC now owns 89,104 shares of the asset manager's stock valued at $4,256,000 after purchasing an additional 4,292 shares in the last quarter.

Encore Capital Group Price Performance

Shares of ECPG traded down $0.57 during midday trading on Monday, hitting $39.95. 176,573 shares of the company traded hands, compared to its average volume of 201,254. 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 52 week low of $26.45 and a 52 week high of $51.77. The stock has a market cap of $932.79 million, a price-to-earnings ratio of -5.09 and a beta of 1.65. The company has a debt-to-equity ratio of 3.39, a quick ratio of 1.11 and a current ratio of 1.11.

Encore Capital Group (NASDAQ:ECPG - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The asset manager reported $1.93 EPS for the quarter, beating the consensus estimate of $1.24 by $0.69. The business 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, analysts forecast that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

Insider Activity

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 shares were purchased at an average cost of $35.14 per share, for a total transaction of $702,800.00. Following the transaction, the chief executive officer now owns 322,254 shares of the company's stock, valued at $11,324,005.56. This represents a 6.62% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 price of $35.10 per share, for a total transaction of $1,404,000.00. Following the completion of the transaction, the director now directly owns 96,909 shares in the company, valued at approximately $3,401,505.90. This represents a 70.29% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 2.54% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. StockNews.com upgraded Encore Capital Group from a "sell" rating to a "hold" rating in a report on Tuesday, May 13th. Truist Financial decreased their target price 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 equities research analyst has rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target 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.