Sheets Smith Wealth Management Increases Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Sheets Smith Wealth Management raised its position in Encore Capital Group, Inc. (NASDAQ:ECPG) by 4.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,653 shares of the asset manager’s stock after purchasing an additional 610 shares during the period. Sheets Smith Wealth Management owned 0.06% of Encore Capital Group worth $744,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Illinois Municipal Retirement Fund boosted its stake in Encore Capital Group by 2.2% during the 4th quarter. Illinois Municipal Retirement Fund now owns 13,683 shares of the asset manager’s stock worth $694,000 after purchasing an additional 301 shares during the period. Rhumbline Advisers boosted its stake in Encore Capital Group by 0.6% during the 3rd quarter. Rhumbline Advisers now owns 75,412 shares of the asset manager’s stock worth $3,602,000 after purchasing an additional 469 shares during the period. Sigma Planning Corp boosted its stake in Encore Capital Group by 6.0% during the 3rd quarter. Sigma Planning Corp now owns 13,302 shares of the asset manager’s stock worth $635,000 after purchasing an additional 756 shares during the period. Swiss National Bank lifted its stake in shares of Encore Capital Group by 1.8% in the 3rd quarter. Swiss National Bank now owns 51,700 shares of the asset manager’s stock worth $2,469,000 after acquiring an additional 900 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Encore Capital Group by 30.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,705 shares of the asset manager’s stock worth $272,000 after acquiring an additional 1,330 shares during the period.

Encore Capital Group Trading Up 1.4 %

ECPG traded up $0.61 during trading on Monday, reaching $43.43. The company had a trading volume of 86,976 shares, compared to its average volume of 164,077. The firm’s 50-day simple moving average is $44.98 and its 200 day simple moving average is $46.45. The company has a market cap of $1.03 billion, a price-to-earnings ratio of -4.96 and a beta of 1.38. Encore Capital Group, Inc. has a 12-month low of $34.74 and a 12-month high of $54.73. 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 issued its quarterly earnings results on Wednesday, February 21st. The asset manager reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.03. The firm had revenue of $277.39 million for the quarter, compared to analysts’ expectations of $330.77 million. Encore Capital Group had a positive return on equity of 9.46% and a negative net margin of 16.89%. Equities research analysts anticipate that Encore Capital Group, Inc. will post 5.93 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ECPG shares. TheStreet downgraded shares of Encore Capital Group from a “c-” rating to a “d+” rating in a report on Monday, March 18th. JMP Securities reissued a “market outperform” rating and issued a $60.00 target price on shares of Encore Capital Group in a research report on Monday.

Insider Activity at Encore Capital Group

In related news, insider Ryan B. Bell sold 5,500 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $50.00, for a total value of $275,000.00. Following the completion of the sale, the insider now owns 42,404 shares of the company’s stock, valued at approximately $2,120,200. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.90% of the stock is currently owned by company insiders.

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.