Shares of Encore Capital Group Inc. (NASDAQ: ECPG) were downgraded by analysts at Citigroup Inc. in a note to their investors today.With a rating of Neutral on the stock, Encore Capital Group Inc. has a 52-week high of $41.44. The one-year price target of $33.63 is above the opening price of $21.84, that has caused a number of other analysts to report on the stock recently. Important and fundamental changes in the company’s procedures, future outlook or industry can cause downgrades as the analysts believe that the future prospects for the security have weakened from the original recommendation.
U.S. stocks on Monday closed essentially flat, after trading firmly higher, in a volatile session ahead of the start of a pair of closely watched central-bank policy meetings.
The Dow Jones Industrial Average DJIA, -0.02% closed down 3.63 points at 18,120.17.
The blue-chip gauge had been up by as much as 131 points earlier and traded within a 162-point range.
The S&P 500 SPX, +0.00% slipped 0.04 points to close at 2,139.12, after trading within an 18-point range
Meanwhile, the Nasdaq Composite Index COMP, -0.18% declined 9.54 points, or 0.2%, to close at 5,235.03.
Earlier, the Nasdaq Composite Index had been up by as many as 37 points and traded with a 58-point range
Shares of Encore Capital Group Inc. (NASDAQ: ECPG) opened at $21.84 yesterday and traded in a range between, $21.36 and $21.94, and last traded at $21.50, which is a decrease of $1.05 from the previous closing price.
Encore Capital Group Inc. (NASDAQ: ECPG) currently has a market cap of 548.81M.
137,514 shares traded hands yesterday, 0 percent lower than the average, out of a total float 20,345,000. Investors often use increases in trading volume to identify large volume growth or circulation by institutional investors, so look for trading volume to pick up in the coming days.
As with all possible breakouts, investors watch for volume to be at least 40%-50% above normal on the breakout to show that fund managers and other professional investors are jumping in.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
These instituitional investors have substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Traders can make more useful decisions on trades when they follow the activity of professional investors.
Trades for Encore Capital Group Inc. (NASDAQ: ECPG) have ranged from $16.09 – 41.44, and the stock now has a 50-day MA of $21.88 and 200-day MA of $24.51. Today’s last price is 0.48% lower than the 52 week high of $41.44.
Indeed, earnings growth is among the most important things to look at in regards to stock investing and, accordingly, investors seek companies that have raised their earnings at least 25% or more for 3 consecutive years.
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