10 Oversold Financial Stocks To Buy Right Now

7. Encore Capital Group, Inc. (NASDAQ:ECPG)

6-Month Performance: -22.59%

Number of Hedge Fund Holders: 23

Analysts Upside Potential: 65.08%

Encore Capital Group, Inc. (NASDAQ:ECPG) is an international specialty finance company that provides debt recovery solutions and other related services for consumers. It purchases portfolios of consumer receivables, such as defaulted loans, from banks, credit unions, and utility providers at discounted rates. The company has operations and investments in North America, Europe, Asia, and Latin America. It is a market leader in portfolio purchasing and recovery in the United States through Midland Credit Management.

On March 7, Michael Grondahl from Northland Securities maintained a Buy rating on the stock with a price target of $66. During the fiscal 2024, Encore Capital Group, Inc. (NASDAQ:ECPG) demonstrated strategic growth. It reached a record global portfolio purchase of $1.35 billion, up 26% from 2023. This was driven by a second consecutive record year of purchasing in the US. Moreover, global collections reached $2.16 billion, a 16% increase compared to 2023. The company is concentrating on markets with the highest risk-adjusted returns, strong regulatory frameworks, sophisticated sellers, and stable long-term returns. It is one of the oversold financial stocks to buy right now.