Pinebridge Investments L.P. Has $205,000 Stake in Encore Capital Group, Inc. (ECPG)

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Pinebridge Investments L.P. reduced its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 79.0% in the second quarter, Holdings Channel reports. The institutional investor owned 5,584 shares of the asset manager’s stock after selling 20,990 shares during the period. Pinebridge Investments L.P.’s holdings in Encore Capital Group were worth $205,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP bought a new position in Encore Capital Group in the 2nd quarter worth $431,000. Stevens Capital Management LP bought a new position in Encore Capital Group in the 2nd quarter worth $334,000. Swiss National Bank raised its holdings in Encore Capital Group by 8.2% in the 2nd quarter. Swiss National Bank now owns 46,300 shares of the asset manager’s stock worth $1,695,000 after purchasing an additional 3,500 shares in the last quarter. Schwab Charles Investment Management Inc. raised its holdings in Encore Capital Group by 11.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 188,068 shares of the asset manager’s stock worth $6,884,000 after purchasing an additional 18,854 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in shares of Encore Capital Group by 4.5% in the 2nd quarter. Rhumbline Advisers now owns 61,209 shares of the asset manager’s stock worth $2,240,000 after acquiring an additional 2,655 shares in the last quarter.

Shares of Encore Capital Group stock opened at $38.20 on Friday. The company has a debt-to-equity ratio of 5.74, a current ratio of 0.63 and a quick ratio of 0.63. The stock has a market capitalization of $1.19 billion, a P/E ratio of 8.55, a price-to-earnings-growth ratio of 0.62 and a beta of 1.56. Encore Capital Group, Inc. has a 1 year low of $35.15 and a 1 year high of $52.00.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings results on Wednesday, August 8th. The asset manager reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.12 by $0.21. The company had revenue of $349.75 million during the quarter, compared to analyst estimates of $335.05 million. Encore Capital Group had a net margin of 6.84% and a return on equity of 20.28%. Encore Capital Group’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the business earned $0.87 EPS. equities research analysts expect that Encore Capital Group, Inc. will post 4.81 earnings per share for the current fiscal year.

ECPG has been the subject of several research reports. Zacks Investment Research lowered shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research note on Tuesday, July 10th. William Blair reiterated an “outperform” rating on shares of Encore Capital Group in a research note on Thursday, August 9th. Northland Securities upgraded shares of Encore Capital Group from a “market perform” rating to an “outperform” rating and set a $37.00 price target for the company in a research note on Thursday, August 9th. ValuEngine lowered shares of Encore Capital Group from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 7th. Finally, BidaskClub lowered shares of Encore Capital Group from a “hold” rating to a “sell” rating in a research note on Monday, May 14th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Encore Capital Group currently has an average rating of “Hold” and an average price target of $49.75.

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.

Further Reading: Stock Symbols and CUSIP Explained

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).

Institutional Ownership by Quarter for Encore Capital Group (NASDAQ:ECPG)

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