Dimensional Fund Advisors LP cut its stake in shares of Encore Capital Group Inc (NASDAQ:ECPG) by 0.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,264,442 shares of the asset manager’s stock after selling 11,744 shares during the period. Dimensional Fund Advisors LP owned 4.94% of Encore Capital Group worth $38,945,000 as of its most recent filing with the SEC.
Other institutional investors have also recently added to or reduced their stakes in the company. Comerica Bank raised its position in Encore Capital Group by 5.8% in the fourth quarter. Comerica Bank now owns 25,062 shares of the asset manager’s stock valued at $768,000 after buying an additional 1,368 shares in the last quarter. State Street Corp raised its stake in shares of Encore Capital Group by 7.3% in the fourth quarter. State Street Corp now owns 516,236 shares of the asset manager’s stock valued at $14,792,000 after buying an additional 35,128 shares during the period. FMR LLC raised its stake in shares of Encore Capital Group by 2.9% in the fourth quarter. FMR LLC now owns 352,523 shares of the asset manager’s stock valued at $10,100,000 after buying an additional 9,781 shares during the period. Renaissance Technologies LLC bought a new stake in shares of Encore Capital Group during the fourth quarter valued at about $679,000. Finally, Two Sigma Investments LP bought a new stake in shares of Encore Capital Group during the fourth quarter valued at about $467,000.
Shares of Encore Capital Group Inc (NASDAQ:ECPG) opened at 40.10 on Friday. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 16.43 and a beta of 1.76. Encore Capital Group Inc has a 52 week low of $17.66 and a 52 week high of $43.65. The firm’s 50-day moving average is $40.51 and its 200-day moving average is $35.48.
Encore Capital Group (NASDAQ:ECPG) last posted its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.82 by $0.05. Encore Capital Group had a return on equity of 12.38% and a net margin of 6.28%. The firm had revenue of $290.92 million during the quarter, compared to analyst estimates of $275.18 million. During the same quarter in the previous year, the firm earned $1.29 EPS. Encore Capital Group’s quarterly revenue was up .5% compared to the same quarter last year. Equities research analysts predict that Encore Capital Group Inc will post $3.69 earnings per share for the current year.
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Several equities research analysts recently issued reports on ECPG shares. Zacks Investment Research raised shares of Encore Capital Group from a “sell” rating to a “hold” rating in a report on Monday, August 7th. Northland Securities reaffirmed a “hold” rating and set a $44.00 price target on shares of Encore Capital Group in a report on Friday, August 4th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $49.50 price target on shares of Encore Capital Group in a report on Thursday. Finally, BidaskClub lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $37.58.
About Encore Capital Group
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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