Dimensional Fund Advisors LP boosted its stake in Encore Capital Group, Inc. (NASDAQ:ECPG) by 2.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,324,251 shares of the asset manager’s stock after buying an additional 37,931 shares during the period. Dimensional Fund Advisors LP owned 5.11% of Encore Capital Group worth $59,856,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Employees Retirement System of Texas purchased a new stake in Encore Capital Group in the fourth quarter worth about $1,095,000. Arizona State Retirement System increased its stake in shares of Encore Capital Group by 224.8% during the fourth quarter. Arizona State Retirement System now owns 39,809 shares of the asset manager’s stock valued at $1,676,000 after purchasing an additional 27,552 shares in the last quarter. BlackRock Inc. increased its stake in shares of Encore Capital Group by 20.7% during the fourth quarter. BlackRock Inc. now owns 3,023,710 shares of the asset manager’s stock valued at $127,299,000 after purchasing an additional 518,665 shares in the last quarter. Teacher Retirement System of Texas bought a new position in shares of Encore Capital Group during the fourth quarter valued at approximately $354,000. Finally, Rhumbline Advisers increased its stake in shares of Encore Capital Group by 14.9% during the fourth quarter. Rhumbline Advisers now owns 57,977 shares of the asset manager’s stock valued at $2,441,000 after purchasing an additional 7,509 shares in the last quarter.
A number of equities analysts have weighed in on ECPG shares. BidaskClub raised shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research note on Friday, March 9th. Oppenheimer set a $55.00 target price on shares of Encore Capital Group and gave the company a “buy” rating in a research note on Wednesday, May 16th. ValuEngine downgraded shares of Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research note on Friday, May 11th. Finally, Zacks Investment Research raised shares of Encore Capital Group from a “sell” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, May 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. Encore Capital Group currently has an average rating of “Hold” and an average target price of $52.30.
Shares of ECPG opened at $38.20 on Friday. The company has a market cap of $997.82 million, a P/E ratio of 9.51, a PEG ratio of 0.62 and a beta of 1.54. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 5.99. Encore Capital Group, Inc. has a twelve month low of $37.30 and a twelve month high of $52.00.
Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings results on Tuesday, May 8th. The asset manager reported $0.98 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.04 by ($0.06). The firm had revenue of $326.79 million for the quarter, compared to the consensus estimate of $326.38 million. Encore Capital Group had a net margin of 6.68% and a return on equity of 18.81%. Encore Capital Group’s revenue was up 20.2% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. sell-side analysts anticipate that Encore Capital Group, Inc. will post 4.81 EPS for the current fiscal year.
Encore Capital Group Profile
Encore Capital Group, Inc, a specialty finance company, together with its subsidiaries, provides debt recovery solutions and other related services for consumers across a range of 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.
Want to see what other hedge funds are holding ECPG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Encore Capital Group, Inc. (NASDAQ:ECPG).
Receive News & Ratings for Encore Capital Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Encore Capital Group and related companies with MarketBeat.com's FREE daily email newsletter.