T. Rowe Price Investment Management Inc. Grows Stock Holdings in Encore Capital Group, Inc. (NASDAQ:ECPG)

T. Rowe Price Investment Management Inc. boosted its holdings in Encore Capital Group, Inc. (NASDAQ:ECPG - Free Report) by 30.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,416,499 shares of the asset manager's stock after buying an additional 327,637 shares during the quarter. T. Rowe Price Investment Management Inc. owned 5.98% of Encore Capital Group worth $67,667,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ECPG. Vanguard Group Inc. raised its stake in shares of Encore Capital Group by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 2,588,969 shares of the asset manager's stock worth $123,675,000 after purchasing an additional 16,663 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Encore Capital Group by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 570,047 shares of the asset manager's stock worth $26,952,000 after purchasing an additional 13,648 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Encore Capital Group by 6.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 512,042 shares of the asset manager's stock valued at $24,460,000 after buying an additional 30,545 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Encore Capital Group by 0.5% in the 4th quarter. Clearbridge Investments LLC now owns 387,550 shares of the asset manager's stock valued at $18,513,000 after buying an additional 1,968 shares in the last quarter. Finally, Marshall Wace LLP raised its position in Encore Capital Group by 73.1% in the 4th quarter. Marshall Wace LLP now owns 318,096 shares of the asset manager's stock valued at $15,195,000 after purchasing an additional 134,309 shares during the last quarter.

Insider Buying and Selling

In other news, CEO Ashish Masih acquired 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 directly owns 322,254 shares of the company's stock, valued at approximately $11,324,005.56. This trade represents a 6.62 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ashwini Gupta purchased 40,000 shares of Encore Capital Group stock in a transaction on Wednesday, March 5th. The stock was bought at an average price of $35.10 per share, for a total transaction of $1,404,000.00. Following the completion of the acquisition, the director now owns 96,909 shares in the company, valued at $3,401,505.90. The trade was a 70.29 % increase in their position. The disclosure for this purchase can be found here. 2.63% of the stock is owned by insiders.

Encore Capital Group Trading Up 0.6 %

Shares of NASDAQ:ECPG traded up $0.19 during mid-day trading on Thursday, reaching $34.59. 63,621 shares of the company's stock were exchanged, compared to its average volume of 189,036. The business's fifty day moving average price is $34.19 and its 200-day moving average price is $43.44. The firm has a market capitalization of $819.57 million, a price-to-earnings ratio of -4.42 and a beta of 1.58. Encore Capital Group, Inc. has a twelve month low of $26.45 and a twelve month high of $51.77. 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 announced its quarterly earnings results on Wednesday, February 26th. The asset manager reported $1.50 earnings per share for the quarter, missing the consensus estimate of $1.55 by ($0.05). 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 $265.62 million during the quarter, compared to analysts' expectations of $373.40 million. On average, research analysts predict that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ECPG. StockNews.com lowered shares of Encore Capital Group from a "hold" rating to a "sell" rating in a research note on Wednesday, April 23rd. Truist Financial reduced 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 report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target 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.