Encore Capital Group (NASDAQ:ECPG) Reaches New 52-Week High – Here’s What Happened

Encore Capital Group Inc (NASDAQ:ECPG)’s share price hit a new 52-week high on Wednesday . The stock traded as high as $59.59 and last traded at $58.40, with a volume of 12167 shares traded. The stock had previously closed at $58.02.

Analysts Set New Price Targets

ECPG has been the subject of a number of recent research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Encore Capital Group in a research note on Wednesday, January 21st. Janney Montgomery Scott lifted their price objective on shares of Encore Capital Group from $56.00 to $62.00 and gave the company a “buy” rating in a research report on Thursday, November 6th. Northland Securities set a $70.00 target price on shares of Encore Capital Group in a research note on Thursday, January 22nd. Zacks Research lowered Encore Capital Group from a “strong-buy” rating to a “hold” rating in a research report on Monday, January 5th. Finally, Citigroup reissued an “outperform” rating on shares of Encore Capital Group in a research note on Tuesday, January 20th. Four equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Encore Capital Group has an average rating of “Moderate Buy” and a consensus price target of $66.00.

Encore Capital Group Stock Performance

The firm’s fifty day simple moving average is $56.06 and its 200 day simple moving average is $49.11. The company has a market capitalization of $1.30 billion, a PE ratio of -31.84 and a beta of 1.41. The company has a debt-to-equity ratio of 4.13, a current ratio of 0.66 and a quick ratio of 0.66.

Insiders Place Their Bets

In other news, insider Ryan B. Bell sold 2,500 shares of the stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $55.00, for a total transaction of $137,500.00. Following the sale, the insider directly owned 55,410 shares of the company’s stock, valued at $3,047,550. This represents a 4.32% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Laura Olle sold 1,423 shares of the company’s stock in a transaction dated Wednesday, December 3rd. The stock was sold at an average price of $52.79, for a total value of $75,120.17. Following the completion of the transaction, the director directly owned 35,024 shares of the company’s stock, valued at $1,848,916.96. The trade was a 3.90% decrease in their position. The SEC filing for this sale provides additional information. 2.63% of the stock is currently owned by insiders.

Institutional Trading of Encore Capital Group

Large investors have recently bought and sold shares of the business. AQR Capital Management LLC increased its position in shares of Encore Capital Group by 78.0% in the 4th quarter. AQR Capital Management LLC now owns 412,498 shares of the asset manager’s stock valued at $22,419,000 after purchasing an additional 180,733 shares during the last quarter. Hillsdale Investment Management Inc. purchased a new position in Encore Capital Group in the 4th quarter valued at about $7,453,000. Jane Street Group LLC boosted its stake in shares of Encore Capital Group by 488.1% during the 4th quarter. Jane Street Group LLC now owns 154,128 shares of the asset manager’s stock worth $8,377,000 after purchasing an additional 127,920 shares during the last quarter. First Trust Advisors LP raised its position in shares of Encore Capital Group by 379.7% in the third quarter. First Trust Advisors LP now owns 98,817 shares of the asset manager’s stock valued at $4,125,000 after buying an additional 78,217 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Encore Capital Group by 476.6% during the second quarter. Arrowstreet Capital Limited Partnership now owns 92,978 shares of the asset manager’s stock valued at $3,599,000 after buying an additional 76,852 shares during the period.

About Encore Capital Group

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.