JMP Securities Reiterates Market Outperform Rating for Encore Capital Group (NASDAQ:ECPG)

Encore Capital Group (NASDAQ:ECPG)‘s stock had its “market outperform” rating restated by equities researchers at JMP Securities in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $60.00 price objective on the asset manager’s stock. JMP Securities’ target price would suggest a potential upside of 44.09% from the company’s current price.

Separately, TheStreet cut Encore Capital Group from a “c-” rating to a “d+” rating in a research note on Monday, March 18th.

Encore Capital Group Trading Up 1.0 %

NASDAQ:ECPG opened at $41.64 on Wednesday. Encore Capital Group has a 1 year low of $34.74 and a 1 year high of $54.73. The stock has a market cap of $980.62 million, a price-to-earnings ratio of -4.74 and a beta of 1.36. The business has a fifty day moving average of $46.95 and a 200-day moving average of $46.95. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.83 and a current ratio of 0.83.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Wednesday, February 21st. The asset manager reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.03. Encore Capital Group had a positive return on equity of 9.46% and a negative net margin of 16.89%. The company had revenue of $277.39 million during the quarter, compared to analysts’ expectations of $330.77 million. Equities analysts predict that Encore Capital Group will post 5.93 earnings per share for the current year.

Insider Activity at Encore Capital Group

In related news, insider Ryan B. Bell sold 5,500 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $50.00, for a total transaction of $275,000.00. Following the completion of the transaction, the insider now owns 42,404 shares of the company’s stock, valued at $2,120,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On Encore Capital Group

Several hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd purchased a new stake in Encore Capital Group in the 4th quarter worth about $452,000. Wellington Management Group LLP purchased a new stake in Encore Capital Group in the 4th quarter worth about $3,457,000. Price T Rowe Associates Inc. MD lifted its stake in Encore Capital Group by 3.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 16,126 shares of the asset manager’s stock worth $819,000 after acquiring an additional 596 shares in the last quarter. GSA Capital Partners LLP lifted its stake in Encore Capital Group by 41.7% in the 4th quarter. GSA Capital Partners LLP now owns 10,435 shares of the asset manager’s stock worth $530,000 after acquiring an additional 3,072 shares in the last quarter. Finally, Legal & General Group Plc lifted its stake in Encore Capital Group by 0.9% in the 4th quarter. Legal & General Group Plc now owns 66,852 shares of the asset manager’s stock worth $3,393,000 after acquiring an additional 609 shares in the last quarter.

Encore Capital Group Company 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.