Encore Capital Group Inc (ECPG)

JUST IN: $ECPG Encore Capital Group, a Small Company with Huge Upside Potential

If you're looking for a growth stock for 2021, then consider Encore Capital Group (ECPG). This debt buyer is seeing robust growth in revenue and is poised to benefit from an strong increase in household debt. Encore Capital Group ( ECPG ) is one of the 9 stocks featured in a new sp...

In case you are interested ECPG - Encore Capital Group, a Small Company with Huge Upside Potential

$ECPG great article Encore Capital Group Inc Nasdaq Ecpg Short Squeeze

ECPG bullish 28.35

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Hope to see $25. PPS here...

- ECPC

Encore Capital Group Enters Agreement to Sell Propel Financial Services to Prophet Capital Asset Management
- Encore Cites Expanded Opportunities to Invest Capital for Greater Returns
- Transaction Expected to Establish Propel’s Enterprise Value at More Than $340 Million
- Sale Expected to Generate More Than $150 Million of After-Tax Proceeds for Encore
SAN DIEGO — February 24, 2016 — Encore Capital Group (NASDAQ: ECPG), an international specialty finance company, today announced that it entered into an agreement to sell its wholly owned subsidiary Propel Financial Services to Prophet Capital Asset Management, an Austin, Texas-based Registered Investment Adviser. The transaction, which would establish Propel’s enterprise value at more than $340 million, is expected to close before the end of the first calendar quarter of 2016. Encore’s decision to divest Propel reflects the broadening array of opportunities within its global footprint and improving performance within its U.S. core business to generate greater returns on invested capital.
“Over the past few years, we’ve diversified Encore’s business by expanding into new global markets and asset classes. As a result, we now have access to attractive opportunities to deploy capital more efficiently at higher returns. In order to meet the higher return expectations of our other businesses, Propel’s tax lien investments require high levels of leverage, which is inconsistent with our longer term goal of deleveraging our balance sheet,” said Kenneth A. Vecchione, President and CEO of Encore. “This transaction provides significant benefits to Encore by improving our overall corporate invested capital returns, reducing our debt, providing liquidity, and allowing us to tighten our focus on expanding our market leadership in debt buying and servicing in the U.S. and around the world.”

Bobby Epstein, Managing Partner of Prophet Capital Asset Management, said, “This transaction is a perfect fit for us, as we value the opportunity to add a synergistic portfolio to our existing strategy. We have followed Propel's trajectory since well before Encore acquired them, and even explored a partnership several years ago. This business sector and Propel’s tax lien investments are not new to us, and we view this sizable transaction as a unique opportunity.”
“Propel plays a critical, consumer-friendly role in helping people address the real difficulty of not being able to pay their property tax bills,” said Vecchione. “Propel has a strong leadership team, and we are confident that it is well positioned to continue serving its customers and employees. We will work closely with Prophet Capital to ensure the smoothest possible transition.”
Jack Nelson, Propel’s President, co-founded the company in 2007 and has guided its growth in becoming one of the largest property tax finance companies in the United States. “We truly enjoyed and benefited from partnering with Encore since they acquired Propel in 2012. This combination helped us grow substantially as we expanded our business to 23 states across the country, and I am highly optimistic about our future under new ownership.”

Last 4 qrtrs of $ECPG's price movement on the earnings announcement. Reporting tomorrow. http://www.tradingthedate.com/stocks/ECPG?utm_campaign=Earnings+Tomorrow&utm_medium=social&utm_source=stocktwits

~ Monday! $ECPG ~ Earnings posted, pending or coming soon! In Charts and Links Below!

~ $ECPG ~ Earnings expected on Monday *
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One or more of many earnings sites has alerted this security has or will be posting earnings on or around the day of this message.








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*If the earnings date is in error please ignore error. I do my best.

Encores' business as a consumer "debt collector" doesn't interest me however their corporate Distressed and Bankruptcy operations do.

Encore Capital Group (ECPG) Under Investigation Following Robo-Signing Allegations by State Attorneys General

October 4, 2011 4:09 PM EDT

Goldfarb Branham LLP is investigating whether the board of directors of Encore Capital Group (Nasdaq: ECPG) violated shareholder protection laws by allegedly breaching fiduciary duties through engaging in unjust enrichment and wasting corporate assets.

Concerned investors are encouraged to contact attorney Hamilton Lindley at 877-583-2855 or hlindley@goldfarbbranham.com about their rights and remedies.

"The company is accused of illegal and unethical actions in its consumer debt recovery business, including, but not limited to, falsifying affidavits in order to circumnavigate clients' right to due process," securities lawyer Hamilton Lindley said. "Our proposed shareholder derivative lawsuit seeks to ensure that proper controls are placed to maximize the company's profitability through proper and legal business."


http://www.streetinsider.com/Corporate+News/Encore+Capital+Group+(ECPG)+Under+Investigation+Following+Robo-Signing+Allegations+by+State+Attorneys+General/6832631.html

Encore Capital Group, Inc. Announces the Closing of the Public Offering of Common Stock by Selling Stockholder

http://finance.yahoo.com/news/encore-capital-group-inc-announces-165500261.html