Broad Run Investment Management buys $62.4 Million stake in Encore Capital Group (ECPG)

Encore Capital Group (ECPG) : Broad Run Investment Management scooped up 54,140 additional shares in Encore Capital Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 2,399,575 shares of Encore Capital Group which is valued at $62.4 Million.Encore Capital Group makes up approximately 3.14% of Broad Run Investment Management’s portfolio.

Other Hedge Funds, Including , Alliancebernstein reduced its stake in ECPG by selling 2,300 shares or 5.88% in the most recent quarter. The Hedge Fund company now holds 36,819 shares of ECPG which is valued at $958,030.Bb&t Securities boosted its stake in ECPG in the latest quarter, The investment management firm added 15,728 additional shares and now holds a total of 43,658 shares of Encore Capital Group which is valued at $1.1 Million. Encore Capital Group makes up approx 0.02% of Bb&t Securities’s portfolio.California Public Employees Retirement System reduced its stake in ECPG by selling 5,700 shares or 7.15% in the most recent quarter. The Hedge Fund company now holds 74,000 shares of ECPG which is valued at $2 Million.State Board Of Administration Of Florida Retirement System reduced its stake in ECPG by selling 12,680 shares or 29.01% in the most recent quarter. The Hedge Fund company now holds 31,024 shares of ECPG which is valued at $839,509.Stoneridge Investment Partners boosted its stake in ECPG in the latest quarter, The investment management firm added 20,541 additional shares and now holds a total of 109,243 shares of Encore Capital Group which is valued at $3.1 Million. Encore Capital Group makes up approx 0.45% of Stoneridge Investment Partners’s portfolio.

Encore Capital Group opened for trading at $27.01 and hit $28.24 on the upside on Wednesday, eventually ending the session at $28.21, with a gain of 4.95% or 1.33 points. The heightened volatility saw the trading volume jump to 3,47,530 shares. Company has a market cap of $720 M.

On the company’s financial health, Encore Capital Group reported $1.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 10, 2016. Analyst had a consensus of $1.26. The company had revenue of $289.00 million for the quarter, compared to analysts expectations of $303.78 million. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.23 EPS.

Many Wall Street Analysts have commented on Encore Capital Group. Encore Capital Group was Initiated by Northland Capital to “Outperform” on Mar 22, 2016.

Encore Capital Group Inc. is a specialty finance company providing debt recovery solutions for consumers and property owners across a range of financial assets. The Company conducts business through two segments: 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. It operates tax lien business segment through its subsidiary Propel Financial Services LLC which acquires and services residential and commercial tax liens on real property.

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