Parisi Gray Wealth Management Has $570,000 Stake in Eagle Point Credit Company Inc. (NYSE:ECC)

Parisi Gray Wealth Management increased its stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 71.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 60,000 shares of the investment management company’s stock after buying an additional 25,000 shares during the quarter. Parisi Gray Wealth Management owned 0.11% of Eagle Point Credit worth $570,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Tower Research Capital LLC TRC grew its stake in Eagle Point Credit by 492.3% in the 3rd quarter. Tower Research Capital LLC TRC now owns 2,843 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 2,363 shares during the period. Money Concepts Capital Corp bought a new position in shares of Eagle Point Credit during the 4th quarter worth $50,000. Black Swift Group LLC lifted its holdings in Eagle Point Credit by 970.9% during the 3rd quarter. Black Swift Group LLC now owns 972,370 shares of the investment management company’s stock worth $96,000 after purchasing an additional 881,570 shares in the last quarter. UBS Group AG lifted its holdings in Eagle Point Credit by 20.8% during the 2nd quarter. UBS Group AG now owns 9,066 shares of the investment management company’s stock worth $106,000 after purchasing an additional 1,559 shares in the last quarter. Finally, Kingsview Wealth Management LLC purchased a new stake in Eagle Point Credit during the 3rd quarter worth about $121,000. Institutional investors own 19.50% of the company’s stock.

Eagle Point Credit Price Performance

Shares of NYSE:ECC remained flat at $10.13 on Thursday. The company’s stock had a trading volume of 110,943 shares, compared to its average volume of 674,188. The firm’s 50-day moving average price is $10.04 and its 200-day moving average price is $9.79. Eagle Point Credit Company Inc. has a 1 year low of $8.60 and a 1 year high of $11.79. The stock has a market cap of $557.66 million, a P/E ratio of 5.69 and a beta of 0.77. The company has a quick ratio of 6.60, a current ratio of 6.60 and a debt-to-equity ratio of 0.22.

Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings data on Thursday, February 22nd. The investment management company reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.05). The firm had revenue of $39.39 million for the quarter, compared to analysts’ expectations of $39.10 million. Eagle Point Credit had a net margin of 84.05% and a return on equity of 14.27%. During the same period in the prior year, the business posted $0.29 earnings per share. On average, equities research analysts expect that Eagle Point Credit Company Inc. will post 1.42 earnings per share for the current fiscal year.

Eagle Point Credit Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 10th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, June 10th. This represents a $1.68 annualized dividend and a yield of 16.58%. Eagle Point Credit’s payout ratio is 94.38%.

About Eagle Point Credit

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.