Wellington Management Group LLP Boosts Stock Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Wellington Management Group LLP boosted its stake in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 16.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 756,335 shares of the asset manager’s stock after acquiring an additional 104,509 shares during the quarter. Wellington Management Group LLP’s holdings in Encore Capital Group were worth $35,752,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Phase 2 Partners LLC lifted its holdings in shares of Encore Capital Group by 219.9% during the third quarter. Phase 2 Partners LLC now owns 241,509 shares of the asset manager’s stock worth $11,416,000 after purchasing an additional 166,014 shares during the period. Marshall Wace LLP lifted its stake in shares of Encore Capital Group by 221.1% in the 2nd quarter. Marshall Wace LLP now owns 130,127 shares of the asset manager’s stock worth $5,430,000 after acquiring an additional 89,596 shares during the period. Millennium Management LLC lifted its stake in shares of Encore Capital Group by 60.0% in the 2nd quarter. Millennium Management LLC now owns 80,170 shares of the asset manager’s stock worth $3,345,000 after acquiring an additional 30,052 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Encore Capital Group by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 481,497 shares of the asset manager’s stock valued at $22,760,000 after acquiring an additional 18,467 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of Encore Capital Group during the third quarter worth about $695,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ECPG shares. StockNews.com upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research report on Friday, November 29th. JMP Securities upped their price objective on Encore Capital Group from $60.00 to $65.00 and gave the stock a “market outperform” rating in a report on Thursday, November 7th. Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Truist Financial lowered their price target on shares of Encore Capital Group from $70.00 to $64.00 and set a “buy” rating on the stock in a research note on Tuesday, August 20th. Finally, Northland Securities upgraded shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $55.00 to $58.00 in a research report on Thursday, October 17th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Encore Capital Group presently has an average rating of “Buy” and an average price target of $62.33.

Insider Activity at Encore Capital Group

In other Encore Capital Group news, Director Laura Olle sold 1,340 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $49.16, for a total value of $65,874.40. Following the sale, the director now directly owns 32,381 shares of the company’s stock, valued at approximately $1,591,849.96. This trade represents a 3.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.63% of the stock is currently owned by corporate insiders.

Encore Capital Group Trading Down 0.4 %

Shares of ECPG opened at $49.06 on Friday. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. Encore Capital Group, Inc. has a 1-year low of $39.64 and a 1-year high of $54.55. The stock has a market cap of $1.16 billion, a price-to-earnings ratio of -6.25 and a beta of 1.55. The firm has a 50 day simple moving average of $47.50 and a 200-day simple moving average of $46.49.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings results on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing the consensus estimate of $1.48 by ($0.22). Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company had revenue of $367.07 million for the quarter, compared to analysts’ expectations of $360.70 million. During the same period in the previous year, the business posted $0.79 EPS. The business’s quarterly revenue was up 18.6% on a year-over-year basis. Equities analysts forecast that Encore Capital Group, Inc. will post 5.09 EPS for the current fiscal year.

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.