The stock of Encore Capital Group, Inc. (NASDAQ:ECPG) is a huge mover today! About 953,741 shares traded hands or 203.07% up from the average. Encore Capital Group, Inc. (NASDAQ:ECPG) has declined 22.72% since April 8, 2016 and is downtrending. It has underperformed by 28.37% the S&P500.
The move comes after 5 months positive chart setup for the $648.05M company. It was reported on Nov, 10 by Barchart.com. We have $37.88 PT which if reached, will make NASDAQ:ECPG worth $349.95M more.
Encore Capital Group, Inc. (NASDAQ:ECPG) Ratings Coverage
Out of 4 analysts covering Encore Capital Group Inc (NASDAQ:ECPG), 3 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 75% are positive. Encore Capital Group Inc has been the topic of 6 analyst reports since August 11, 2015 according to StockzIntelligence Inc. Macquarie Research maintained it with “Outperform” rating and $54 target price in Tuesday, August 11 report. The firm has “Neutral” rating by Citigroup given on Tuesday, September 20. The rating was initiated by Northland Capital with “Outperform” on Tuesday, March 22. The stock has “Buy” rating given by Citigroup on Thursday, October 8. The company was maintained on Thursday, November 12 by Suntrust Robinson.
According to Zacks Investment Research, “Encore Capital Group is a leading provider of debt management and recovery solutions for consumers and property owners across a broad range of assets. Through its subsidiaries, the company purchases portfolios of consumer receivables from major banks, credit unions, and utility providers, and partners with individuals as they repay their obligations and work toward financial recovery. Through its Propel Financial Services subsidiary, the company assists property owners who are delinquent on their property taxes by structuring affordable monthly payment plans. Encore’s success and future growth are driven by its sophisticated and widespread use of analytics, its broad investments in data and behavioral science, the significant cost advantages provided by its highly-efficient operating model and proven investment strategy, and the company’s demonstrated commitment to conducting business ethically and in ways that support its consumers’ financial recovery.”
Insitutional Activity: The institutional sentiment decreased to 0.58 in Q2 2016. Its down 0.60, from 1.18 in 2016Q1. The ratio worsened, as 30 funds sold all Encore Capital Group, Inc. shares owned while 54 reduced positions. 13 funds bought stakes while 36 increased positions. They now own 29.90 million shares or 2.66% less from 30.71 million shares in 2016Q1.
Stevens Mgmt Lp accumulated 10,303 shares or 0.01% of the stock. Massmutual Communication Fsb Adv owns 7 shares or 0% of their US portfolio. Intrust Natl Bank Na has invested 0.1% of its portfolio in Encore Capital Group, Inc. (NASDAQ:ECPG). Quantbot Tech Lp has invested 0% of its portfolio in Encore Capital Group, Inc. (NASDAQ:ECPG). Moreover, Morgan Stanley has 0% invested in Encore Capital Group, Inc. (NASDAQ:ECPG) for 375,806 shares. Blackrock Fund last reported 1.52 million shares in the company. Stoneridge Investment Partners Limited reported 86,518 shares or 0.3% of all its holdings. Jpmorgan Chase & owns 24,515 shares or 0% of their US portfolio. Pnc Fincl Services Group Inc Inc last reported 0% of its portfolio in the stock. Fmr Llc holds 0% of its portfolio in Encore Capital Group, Inc. (NASDAQ:ECPG) for 187,290 shares. Central Secs Corp owns 200,000 shares or 1.09% of their US portfolio. Royal Fincl Bank Of Canada has 481,944 shares for 0.01% of their US portfolio. Credit Suisse Ag last reported 438,856 shares in the company. Pinebridge Investments L P has invested 0% of its portfolio in Encore Capital Group, Inc. (NASDAQ:ECPG). Tiaa Cref Inv Management Lc accumulated 0% or 88,354 shares.
Insider Transactions: Since August 8, 2016, the stock had 1 buy, and 0 sales for $521,150 net activity. MESDAG WILLEM bought 25,000 shares worth $521,150.
More news for Encore Capital Group, Inc. (NASDAQ:ECPG) were recently published by: Globenewswire.com, which released: “Encore Capital Group Enters Agreement to Sell Propel Financial Services to …” on February 24, 2016. Seekingalpha.com‘s article titled: “Encore Capital Group’s (ECPG) CEO Ken Vecchione on Q2 2016 Results – Earnings …” and published on August 07, 2016 is yet another important article.
ECPG Company Profile
Encore Capital Group, Inc., incorporated on April 29, 1999, through its subsidiaries, is a specialty finance firm providing debt recovery solutions for clients and property owners across a range of financial assets. The Firm operates through two divisions: Portfolio Purchasing and Recovery, and Tax Lien Business. The Company’s portfolio purchasing and recovery segment purchases portfolios of defaulted consumer receivables at discounts and manages them by partnering with individuals as they repay their obligations and work toward financial recovery. Defaulted receivables are consumers’ unpaid financial commitments to credit originators, including banks, credit unions, consumer finance companies, commercial retailers, and telecommunication companies. Defaulted receivables also include receivables subject to bankruptcy proceedings. In addition, the Company assists property owners delinquenting on their property taxes by structuring monthly payment plans and purchases delinquent tax liens directly from taxing authorities.
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