Eagle Point Credit (NYSE:ECC) Cut to “Neutral” at LADENBURG THALM/SH SH

Eagle Point Credit (NYSE:ECC) was downgraded by analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a note issued to investors on Monday.

Other analysts have also issued reports about the company. Credit Suisse Group set a $5.00 target price on Eagle Point Credit in a research note on Wednesday, February 18th. B. Riley Financial dropped their target price on Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Finally, Zacks Research raised shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $7.13.

Eagle Point Credit Stock Performance

ECC traded up $0.08 during midday trading on Monday, reaching $4.11. The company had a trading volume of 765,680 shares, compared to its average volume of 2,605,179. Eagle Point Credit has a 12-month low of $3.85 and a 12-month high of $8.86. The business has a 50-day moving average price of $5.25 and a two-hundred day moving average price of $6.03. The stock has a market cap of $518.97 million, a PE ratio of 21.62 and a beta of 0.28.

Institutional Trading of Eagle Point Credit

Several institutional investors and hedge funds have recently made changes to their positions in ECC. Fermata Advisors LLC lifted its holdings in shares of Eagle Point Credit by 15.7% during the 3rd quarter. Fermata Advisors LLC now owns 12,545 shares of the investment management company’s stock worth $83,000 after acquiring an additional 1,706 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Eagle Point Credit by 21.2% during the third quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock worth $66,000 after purchasing an additional 1,750 shares during the last quarter. TCTC Holdings LLC boosted its holdings in shares of Eagle Point Credit by 45.5% in the 4th quarter. TCTC Holdings LLC now owns 8,000 shares of the investment management company’s stock worth $46,000 after purchasing an additional 2,500 shares in the last quarter. N.E.W. Advisory Services LLC increased its position in shares of Eagle Point Credit by 100.0% during the 4th quarter. N.E.W. Advisory Services LLC now owns 5,300 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 2,650 shares during the last quarter. Finally, Compound Planning Inc. raised its holdings in shares of Eagle Point Credit by 19.5% during the 4th quarter. Compound Planning Inc. now owns 19,220 shares of the investment management company’s stock valued at $111,000 after buying an additional 3,135 shares in the last quarter. Hedge funds and other institutional investors own 19.50% of the company’s stock.

About Eagle Point Credit

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.