Kalmar Investments Inc. DE cut its stake in Encore Capital Group Inc. (NASDAQ:ECPG) by 4.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 853,558 shares of the company’s stock after selling 36,798 shares during the period. Kalmar Investments Inc. DE’s holdings in Encore Capital Group were worth $20,084,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA boosted its position in shares of Encore Capital Group by 138.3% in the second quarter. BNP Paribas Arbitrage SA now owns 7,512 shares of the company’s stock valued at $177,000 after buying an additional 4,360 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Encore Capital Group by 1.0% in the second quarter. Louisiana State Employees Retirement System now owns 10,500 shares of the company’s stock valued at $247,000 after buying an additional 100 shares in the last quarter. Monarch Partners Asset Management LLC purchased a new position in shares of Encore Capital Group during the second quarter valued at about $396,000. AMP Capital Investors Ltd purchased a new position in shares of Encore Capital Group during the first quarter valued at about $406,000. Finally, Zebra Capital Management LLC boosted its position in shares of Encore Capital Group by 83.7% in the first quarter. Zebra Capital Management LLC now owns 18,069 shares of the company’s stock valued at $465,000 after buying an additional 8,231 shares in the last quarter.
Shares of Encore Capital Group Inc. (NASDAQ:ECPG) traded up 0.98% during mid-day trading on Wednesday, reaching $20.65. The company had a trading volume of 222,972 shares. Encore Capital Group Inc. has a 1-year low of $16.09 and a 1-year high of $41.44. The firm has a 50-day moving average price of $21.94 and a 200-day moving average price of $23.91. The stock has a market capitalization of $527.11 million, a price-to-earnings ratio of 12.39 and a beta of 1.56.
Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.29 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.08. The business had revenue of $289 million for the quarter, compared to analysts’ expectations of $296.97 million. Encore Capital Group had a return on equity of 21.89% and a net margin of 3.72%. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.21 EPS. Equities analysts expect that Encore Capital Group Inc. will post $5.02 earnings per share for the current year.
Several brokerages have recently issued reports on ECPG. Zacks Investment Research upgraded shares of Encore Capital Group from a “sell” rating to a “hold” rating in a report on Tuesday. Northland Securities cut shares of Encore Capital Group from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $37.00 to $21.00 in a report on Friday, August 5th. Finally, Citigroup Inc. cut their target price on shares of Encore Capital Group from $32.00 to $31.00 and set a “buy” rating on the stock in a report on Monday, August 8th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $32.60.
In other news, Director Willem Mesdag acquired 25,000 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were acquired at an average cost of $20.85 per share, with a total value of $521,250.00. Following the acquisition, the director now directly owns 36,278 shares of the company’s stock, valued at $756,396.30. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 8.69% of the company’s stock.
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 two segments: Portfolio Purchasing and Recovery, and Tax Lien Business. Its portfolio purchasing and recovery segment purchases portfolios of defaulted consumer receivables at discounts and manages them by partnering with individuals as they repay their obligations and work toward financial recovery.
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