Pinebridge Investments L.P. Increases Position in Encore Capital Group, Inc. (NASDAQ:ECPG)

Pinebridge Investments L.P. increased its stake in Encore Capital Group, Inc. (NASDAQ:ECPG) by 2.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,381 shares of the asset manager’s stock after acquiring an additional 533 shares during the period. Pinebridge Investments L.P. owned about 0.09% of Encore Capital Group worth $927,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in ECPG. Dimensional Fund Advisors LP grew its position in Encore Capital Group by 1.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,546,966 shares of the asset manager’s stock worth $36,354,000 after acquiring an additional 18,488 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Encore Capital Group during the 1st quarter worth $283,000. Rhumbline Advisers boosted its stake in shares of Encore Capital Group by 2.0% during the 1st quarter. Rhumbline Advisers now owns 77,762 shares of the asset manager’s stock worth $2,117,000 after acquiring an additional 1,531 shares during the last quarter. Comerica Bank boosted its stake in shares of Encore Capital Group by 2.8% during the 1st quarter. Comerica Bank now owns 25,349 shares of the asset manager’s stock worth $730,000 after acquiring an additional 682 shares during the last quarter. Finally, Texas Permanent School Fund boosted its stake in shares of Encore Capital Group by 3.9% during the 1st quarter. Texas Permanent School Fund now owns 17,405 shares of the asset manager’s stock worth $474,000 after acquiring an additional 648 shares during the last quarter.

Shares of NASDAQ ECPG traded up $0.65 during mid-day trading on Friday, reaching $34.43. The company’s stock had a trading volume of 5,523 shares, compared to its average volume of 491,624. The stock has a 50-day moving average of $35.78 and a two-hundred day moving average of $33.35. The stock has a market capitalization of $1.06 billion, a P/E ratio of 6.89, a P/E/G ratio of 0.40 and a beta of 1.48. The company has a debt-to-equity ratio of 3.91, a quick ratio of 0.77 and a current ratio of 0.77. Encore Capital Group, Inc. has a 1-year low of $20.38 and a 1-year high of $39.19.

Encore Capital Group (NASDAQ:ECPG) last released its quarterly earnings data on Wednesday, August 7th. The asset manager reported $1.28 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.28. Encore Capital Group had a net margin of 11.14% and a return on equity of 19.85%. The firm had revenue of $346.87 million during the quarter, compared to analysts’ expectations of $353.89 million. During the same period last year, the business earned $1.33 earnings per share. Encore Capital Group’s revenue was down .8% compared to the same quarter last year. Analysts predict that Encore Capital Group, Inc. will post 5.64 EPS for the current fiscal year.

Several research analysts have recently weighed in on the stock. ValuEngine cut shares of Encore Capital Group from a “hold” rating to a “sell” rating in a research note on Tuesday, August 27th. Keefe, Bruyette & Woods set a $45.00 price objective on shares of Encore Capital Group and gave the company a “buy” rating in a research report on Tuesday, September 10th. BidaskClub upgraded shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, September 13th. Northland Securities restated a “buy” rating and set a $40.00 price objective on shares of Encore Capital Group in a research report on Thursday, August 8th. Finally, Zacks Investment Research upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating and set a $42.00 price objective on the stock in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and six have issued a buy rating to the company’s stock. Encore Capital Group has a consensus rating of “Buy” and a consensus target price of $40.67.

About Encore Capital Group

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.

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

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