Red Mountain Capital Partners buys $36,260,531 stake in Encore Capital Group (ECPG)

Encore Capital Group (ECPG) : Red Mountain Capital Partners scooped up 25,000 additional shares in Encore Capital Group during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 1,386,636 shares of Encore Capital Group which is valued at $36,260,531.Encore Capital Group makes up approximately 10.25% of Red Mountain Capital Partners’s portfolio.

Other Hedge Funds, Including , Sterling Capital Management reduced its stake in ECPG by selling 3,074 shares or 22.26% in the most recent quarter. The Hedge Fund company now holds 10,734 shares of ECPG which is valued at $280,694.California State Teachers Retirement System boosted its stake in ECPG in the latest quarter, The investment management firm added 400 additional shares and now holds a total of 50,341 shares of Encore Capital Group which is valued at $974,098.New York State Common Retirement Fund reduced its stake in ECPG by selling 101,930 shares or 33.26% in the most recent quarter. The Hedge Fund company now holds 204,577 shares of ECPG which is valued at $4,091,540. Encore Capital Group makes up approx 0.01% of New York State Common Retirement Fund’s portfolio.Pembroke Management Ltd reduced its stake in ECPG by selling 272,000 shares or 22.54% in the most recent quarter. The Hedge Fund company now holds 934,893 shares of ECPG which is valued at $18,464,137. Encore Capital Group makes up approx 2.13% of Pembroke Management Ltd’s portfolio.

Encore Capital Group closed down -0.3 points or -1.13% at $26.35 with 4,29,461 shares getting traded on Monday. Post opening the session at $26.8, the shares hit an intraday low of $26.25 and an intraday high of $27.35 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

On the company’s financial health, Encore Capital Group reported $0.14 EPS for the quarter, missing the analyst consensus estimate by $ -1.10 based on the information available during the earnings call on Nov 9, 2016. Analyst had a consensus of $1.24. The company had revenue of $179.41 million for the quarter, compared to analysts expectations of $283.66 million. The company’s revenue was down -35.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.34 EPS.

Many Wall Street Analysts have commented on Encore Capital Group. Encore Capital Group was Downgraded by Citigroup to ” Neutral” on Sep 20, 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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