William Blair Investment Management LLC Purchases 119,655 Shares of Encore Capital Group Inc (ECPG)
William Blair Investment Management LLC boosted its stake in shares of Encore Capital Group Inc (NASDAQ:ECPG) by 5.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,370,092 shares of the asset manager’s stock after buying an additional 119,655 shares during the period. William Blair Investment Management LLC owned approximately 9.21% of Encore Capital Group worth $95,159,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ECPG. Broad Run Investment Management LLC boosted its stake in shares of Encore Capital Group by 5.2% in the first quarter. Broad Run Investment Management LLC now owns 2,894,864 shares of the asset manager’s stock valued at $89,162,000 after buying an additional 144,186 shares during the last quarter. Vanguard Group Inc. boosted its position in Encore Capital Group by 8.6% in the first quarter. Vanguard Group Inc. now owns 2,128,159 shares of the asset manager’s stock worth $65,547,000 after buying an additional 169,254 shares during the last quarter. FMR LLC boosted its position in Encore Capital Group by 74.9% in the first quarter. FMR LLC now owns 616,608 shares of the asset manager’s stock worth $18,992,000 after buying an additional 264,085 shares during the last quarter. State Street Corp boosted its position in Encore Capital Group by 6.4% in the first quarter. State Street Corp now owns 549,437 shares of the asset manager’s stock worth $16,925,000 after buying an additional 33,201 shares during the last quarter. Finally, Norges Bank acquired a new position in Encore Capital Group during the fourth quarter worth about $8,662,000.
Shares of Encore Capital Group Inc (NASDAQ ECPG) opened at 38.85 on Tuesday. The stock has a market capitalization of $1000.00 million, a price-to-earnings ratio of 15.92 and a beta of 1.76. Encore Capital Group Inc has a 12 month low of $17.66 and a 12 month high of $43.65. The stock’s 50 day moving average price is $40.33 and its 200 day moving average price is $35.92.
Encore Capital Group (NASDAQ:ECPG) last announced its quarterly earnings results on Thursday, August 3rd. The asset manager reported $0.87 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.82 by $0.05. Encore Capital Group had a return on equity of 12.38% and a net margin of 6.28%. The firm had revenue of $290.92 million during the quarter, compared to analyst estimates of $275.18 million. During the same quarter in the previous year, the business earned $1.29 EPS. Encore Capital Group’s revenue for the quarter was up .5% compared to the same quarter last year. Analysts expect that Encore Capital Group Inc will post $3.69 EPS for the current year.
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ECPG has been the topic of a number of research reports. Zacks Investment Research lowered Encore Capital Group from a “buy” rating to a “hold” rating in a research report on Tuesday, June 27th. Keefe, Bruyette & Woods initiated coverage on Encore Capital Group in a research report on Wednesday, May 24th. They issued an “outperform” rating and a $45.00 price target for the company. BidaskClub lowered Encore Capital Group from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 24th. Finally, Northland Securities reissued a “hold” rating and issued a $44.00 price target on shares of Encore Capital Group in a research report on Friday, August 4th. Six research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Encore Capital Group has a consensus rating of “Hold” and a consensus target price of $37.58.
About Encore Capital Group
Encore Capital Group, Inc, through its subsidiaries, is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company operates through Portfolio Purchasing and Recovery segment. The Company’s geographical segments include the United States, Europe and other.
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