Peregrine Capital Management LLC lifted its holdings in shares of Encore Capital Group, Inc. (NASDAQ:ECPG) by 1.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 174,261 shares of the asset manager’s stock after buying an additional 2,559 shares during the quarter. Peregrine Capital Management LLC’s holdings in Encore Capital Group were worth $5,956,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the business. M&T Bank Corp grew its holdings in Encore Capital Group by 8.5% in the 2nd quarter. M&T Bank Corp now owns 17,049 shares of the asset manager’s stock worth $583,000 after acquiring an additional 1,329 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in Encore Capital Group in the 2nd quarter worth $325,000. Wakefield Asset Management LLLP bought a new stake in Encore Capital Group in the 2nd quarter worth $612,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Encore Capital Group by 102.5% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,191 shares of the asset manager’s stock worth $109,000 after acquiring an additional 1,615 shares during the last quarter. Finally, Smith Graham & Co. Investment Advisors LP grew its holdings in Encore Capital Group by 5.0% in the 2nd quarter. Smith Graham & Co. Investment Advisors LP now owns 309,910 shares of the asset manager’s stock worth $10,593,000 after acquiring an additional 14,866 shares during the last quarter.
A number of brokerages have issued reports on ECPG. Keefe, Bruyette & Woods cut their price target on shares of Encore Capital Group from $50.00 to $35.00 and set an “outperform” rating on the stock in a report on Monday, April 13th. Oppenheimer raised their price target on shares of Encore Capital Group from $39.00 to $42.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Zacks Investment Research cut shares of Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Tuesday, July 21st. Northland Securities reaffirmed a “buy” rating and issued a $50.00 target price on shares of Encore Capital Group in a research report on Thursday, May 21st. Finally, BidaskClub raised shares of Encore Capital Group from a “sell” rating to a “hold” rating in a research report on Friday, July 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $40.50.
Encore Capital Group (NASDAQ:ECPG) last posted its earnings results on Monday, May 11th. The asset manager reported ($0.19) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.13 by ($1.32). Encore Capital Group had a return on equity of 14.42% and a net margin of 8.07%. The company had revenue of $289.10 million during the quarter, compared to analysts’ expectations of $326.44 million. During the same period in the prior year, the business posted $1.46 earnings per share. The company’s revenue for the quarter was down 16.2% on a year-over-year basis. Equities analysts forecast that Encore Capital Group, Inc. will post 7.03 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.
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