Sheets Smith Wealth Management Has $682,000 Holdings in Encore Capital Group, Inc. (NASDAQ:ECPG)

Sheets Smith Wealth Management increased its holdings in Encore Capital Group, Inc. (NASDAQ:ECPG) by 3.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 14,278 shares of the asset manager’s stock after buying an additional 416 shares during the period. Sheets Smith Wealth Management’s holdings in Encore Capital Group were worth $682,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC raised its holdings in Encore Capital Group by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 570,047 shares of the asset manager’s stock valued at $26,952,000 after acquiring an additional 13,648 shares in the last quarter. Barclays PLC increased its position in shares of Encore Capital Group by 22.9% in the third quarter. Barclays PLC now owns 197,903 shares of the asset manager’s stock worth $9,355,000 after purchasing an additional 36,822 shares during the period. Jane Street Group LLC raised its stake in Encore Capital Group by 191.7% in the third quarter. Jane Street Group LLC now owns 49,719 shares of the asset manager’s stock valued at $2,350,000 after purchasing an additional 32,672 shares in the last quarter. Wellington Management Group LLP raised its stake in Encore Capital Group by 16.0% in the third quarter. Wellington Management Group LLP now owns 756,335 shares of the asset manager’s stock valued at $35,752,000 after purchasing an additional 104,509 shares in the last quarter. Finally, State Street Corp lifted its position in Encore Capital Group by 0.3% during the third quarter. State Street Corp now owns 900,677 shares of the asset manager’s stock worth $42,575,000 after purchasing an additional 2,597 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ECPG. StockNews.com upgraded shares of Encore Capital Group from a “hold” rating to a “buy” rating in a research report on Friday, November 29th. Northland Securities upped their target price on Encore Capital Group from $58.00 to $66.00 and gave the stock an “outperform” rating in a research note on Monday, December 23rd. JMP Securities lifted their price target on Encore Capital Group from $60.00 to $65.00 and gave the company a “market outperform” rating in a research note on Thursday, November 7th. Finally, Northland Capmk raised Encore Capital Group from a “hold” rating to a “strong-buy” rating in a report on Thursday, October 17th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $65.00.

Encore Capital Group Stock Performance

Shares of Encore Capital Group stock opened at $48.58 on Thursday. The company’s 50 day moving average price is $48.21 and its two-hundred day moving average price is $47.66. The firm has a market capitalization of $1.15 billion, a P/E ratio of -6.19 and a beta of 1.55. The company has a debt-to-equity ratio of 3.39, a current ratio of 1.11 and a quick ratio of 1.11. Encore Capital Group, Inc. has a fifty-two week low of $39.64 and a fifty-two week high of $54.55.

Encore Capital Group (NASDAQ:ECPG) last issued its quarterly earnings data on Wednesday, November 6th. The asset manager reported $1.26 earnings per share for the quarter, missing analysts’ consensus estimates of $1.48 by ($0.22). The firm had revenue of $367.07 million for the quarter, compared to the consensus estimate of $360.70 million. Encore Capital Group had a positive return on equity of 12.70% and a negative net margin of 13.91%. The company’s revenue was up 18.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.79 EPS. On average, equities analysts forecast that Encore Capital Group, Inc. will post 5.09 earnings per share for the current fiscal year.

Insider Activity

In other Encore Capital Group news, Director Laura Olle sold 1,340 shares of the business’s stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $49.16, for a total transaction of $65,874.40. Following the sale, the director now directly owns 32,381 shares of the company’s stock, valued at $1,591,849.96. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.63% of the stock is currently owned by insiders.

Encore Capital Group Company Profile

Encore Capital Group, Inc, a specialty finance company, provides debt recovery solutions and other related services for consumers across 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.