Encore Capital Group (NASDAQ:ECPG) Sees Strong Trading Volume – What’s Next?

Shares of Encore Capital Group Inc (NASDAQ:ECPG) saw unusually-high trading volume on Wednesday . Approximately 545,511 shares traded hands during mid-day trading, an increase of 113% from the previous session’s volume of 256,096 shares.The stock last traded at $78.7180 and had previously closed at $79.71.

Wall Street Analysts Forecast Growth

ECPG has been the topic of several analyst reports. Citizens Jmp upped their price objective on Encore Capital Group from $75.00 to $90.00 and gave the company a “market outperform” rating in a research note on Thursday, February 26th. Weiss Ratings raised Encore Capital Group from a “sell (d-)” rating to a “hold (c-)” rating in a report on Friday, February 27th. Zacks Research raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Friday, February 27th. Citigroup reissued an “outperform” rating on shares of Encore Capital Group in a report on Tuesday, January 20th. Finally, Wall Street Zen downgraded Encore Capital Group from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $75.50.

Encore Capital Group Stock Down 1.1%

The firm has a market capitalization of $1.69 billion, a price-to-earnings ratio of 7.19 and a beta of 1.26. The company has a current ratio of 0.68, a quick ratio of 0.68 and a debt-to-equity ratio of 4.10. The firm has a fifty day moving average price of $66.50 and a 200 day moving average price of $55.90.

Encore Capital Group (NASDAQ:ECPG) last announced its earnings results on Wednesday, February 25th. The asset manager reported $3.37 EPS for the quarter, topping the consensus estimate of $2.20 by $1.17. The business had revenue of $473.55 million for the quarter, compared to the consensus estimate of $423.14 million. Encore Capital Group had a return on equity of 28.19% and a net margin of 14.52%.Encore Capital Group’s revenue was up 78.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($9.42) EPS. Sell-side analysts anticipate that Encore Capital Group Inc will post 5.09 EPS for the current fiscal year.

Insider Transactions at Encore Capital Group

In other Encore Capital Group news, insider Ryan B. Bell sold 7,240 shares of the company’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $69.04, for a total transaction of $499,849.60. Following the transaction, the insider owned 48,170 shares of the company’s stock, valued at approximately $3,325,656.80. This represents a 13.07% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 2.63% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC acquired a new position in Encore Capital Group during the 3rd quarter worth $388,000. Y Intercept Hong Kong Ltd acquired a new position in Encore Capital Group during the 3rd quarter worth $991,000. Allianz Asset Management GmbH lifted its holdings in Encore Capital Group by 16.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 274,318 shares of the asset manager’s stock worth $11,450,000 after buying an additional 38,908 shares in the last quarter. Stephens Investment Management Group LLC lifted its holdings in Encore Capital Group by 4.8% during the 3rd quarter. Stephens Investment Management Group LLC now owns 1,308,252 shares of the asset manager’s stock worth $54,606,000 after buying an additional 59,421 shares in the last quarter. Finally, Tredje AP fonden acquired a new position in Encore Capital Group during the 3rd quarter worth $923,000.

Encore Capital Group Company Profile

Encore Capital Group, Inc is a global specialty finance company that focuses on the purchase and management of nonperforming consumer receivables. Through its subsidiaries, the company acquires charged-off debt portfolios from credit card issuers, banks, and other financial institutions, and seeks to recover outstanding balances through a combination of customer outreach, payment arrangements, and, where appropriate, legal collection efforts. Encore’s business model emphasizes compliance with regulatory and industry standards to ensure ethical and transparent debt-recovery practices.

Headquartered in San Diego, California, Encore operates across North America and Europe.