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Ashish Masih, President and CEO of Encore Capital Group Inc. (NASDAQ:ECPG), recently purchased 20,000 shares of the company’s common stock. The shares were acquired at a weighted average price of $35.14 per share, with the total transaction amounting to $702,800. The timing appears strategic, as the stock is currently trading near its 52-week low of $32.99, with technical indicators suggesting oversold conditions according to InvestingPro analysis.
The purchase was executed on March 5, 2025, as reported in a recent SEC filing. Following this transaction, Masih’s direct ownership in Encore Capital Group increased to 322,254 shares. The company, currently valued at $817 million, has seen significant price volatility recently.
The shares were bought in multiple transactions, with prices ranging from $35.00 to $35.20. This move signals continued confidence in the company’s performance from its top executive, particularly noteworthy as analysts maintain price targets between $55 and $66, with expectations of return to profitability this year. Get deeper insights and access to more exclusive financial metrics with InvestingPro’s comprehensive research reports.
In other recent news, Encore Capital Group reported a significant fourth-quarter loss, missing Wall Street expectations. The company’s earnings per share for the quarter were ($9.42), a stark contrast to the analyst estimate of $1.83, and revenue fell short as well, coming in at $265.62 million against the expected $372.15 million. Despite a reported 26% increase in global portfolio purchases and a 16% rise in global collections for the year, the financial results were impacted by a $101 million goodwill charge and a $129 million revenue reduction. This led to a net loss for the year of $139 million. In light of these challenges, Citizens JMP downgraded its price target for Encore Capital from $65.00 to $55.00, though it maintained a Market Outperform rating. The analyst noted that while the company’s U.S. operations are thriving due to favorable market conditions, its UK operations face headwinds. Looking forward, Encore Capital plans to resume share repurchases in 2025 and expects global collections to increase by 11% to $2.4 billion.
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