Shares of EAGLE POINT CR/COM (NYSE:ECC) have been assigned a consensus rating of “Hold” from the five brokerages that are presently covering the stock, Marketbeat.com reports. Four investment analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $24.00.
Separately, National Securities reiterated a “buy” rating and issued a $24.00 target price on shares of EAGLE POINT CR/COM in a research report on Thursday, May 23rd.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Oppenheimer & Co. Inc. grew its position in EAGLE POINT CR/COM by 5.9% in the 1st quarter. Oppenheimer & Co. Inc. now owns 12,279 shares of the investment management company’s stock valued at $204,000 after buying an additional 682 shares in the last quarter. Tower Research Capital LLC TRC bought a new position in shares of EAGLE POINT CR/COM during the 2nd quarter valued at about $44,000. Advisor Group Inc. boosted its position in shares of EAGLE POINT CR/COM by 287.4% during the 2nd quarter. Advisor Group Inc. now owns 3,622 shares of the investment management company’s stock valued at $65,000 after purchasing an additional 2,687 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in shares of EAGLE POINT CR/COM by 13.3% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 27,136 shares of the investment management company’s stock valued at $452,000 after purchasing an additional 3,189 shares in the last quarter. Finally, Morgan Stanley boosted its position in shares of EAGLE POINT CR/COM by 13.6% during the 2nd quarter. Morgan Stanley now owns 30,505 shares of the investment management company’s stock valued at $546,000 after purchasing an additional 3,644 shares in the last quarter. Hedge funds and other institutional investors own 36.22% of the company’s stock.
Shares of ECC stock traded down $0.12 during trading hours on Thursday, reaching $17.02. The stock had a trading volume of 132,468 shares, compared to its average volume of 178,561. EAGLE POINT CR/COM has a twelve month low of $12.16 and a twelve month high of $19.41. The firm has a 50-day simple moving average of $17.70 and a 200-day simple moving average of $17.27. The firm has a market capitalization of $402.52 million, a PE ratio of 10.70 and a beta of 0.56.
EAGLE POINT CR/COM (NYSE:ECC) last released its quarterly earnings data on Wednesday, May 22nd. The investment management company reported $0.36 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($0.04). The company had revenue of $16.59 million for the quarter, compared to analyst estimates of $17.80 million. Analysts predict that EAGLE POINT CR/COM will post 1.46 EPS for the current year.
The business also recently announced a dividend, which will be paid on Friday, August 30th. Investors of record on Monday, August 12th will be given a $0.20 dividend. The ex-dividend date of this dividend is Friday, August 9th. EAGLE POINT CR/COM’s dividend payout ratio is presently 150.94%.
About EAGLE POINT CR/COM
Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.
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