In advance of its investor day in New York, Brandon Black, chief executive of San Diego based Encore Capital Group Inc., rang the closing bell at the Nasdaq Market Site in Times Square on June 5, the company said.
The company, which has been publicly traded since 1999, purchases charged off credit card debt mainly from banks and then collects as much of it as possible. It visits with stock analysts and investors once a year, a company spokesman said.
The ringing closed out a positive day for the equity markets, with the Nasdaq index gaining 18 points, the Dow Jones Industrials increasing 26 points, and the Standard & Poor’s 500 Index rising by about 7 points.
It also was a good day for Encore, whose shares, traded under the ticker ECPG, rose 65 cents to $24.85, giving the company a market cap of $614 million.