Eagle Point Credit Company Inc. $ECC Stock Holdings Raised by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S raised its stake in Eagle Point Credit Company Inc. (NYSE:ECC) by 268.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 247,357 shares of the investment management company’s stock after purchasing an additional 180,305 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Eagle Point Credit were worth $1,425,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. bought a new stake in shares of Eagle Point Credit during the 2nd quarter valued at about $33,000. Ameriflex Group Inc. bought a new stake in shares of Eagle Point Credit during the 3rd quarter valued at about $33,000. N.E.W. Advisory Services LLC grew 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 buying an additional 2,650 shares during the last quarter. Tower Research Capital LLC TRC bought a new stake in shares of Eagle Point Credit during the 2nd quarter valued at about $65,000. Finally, EverSource Wealth Advisors LLC grew its position in shares of Eagle Point Credit by 21.2% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company’s stock valued at $66,000 after buying an additional 1,750 shares during the last quarter. Institutional investors own 19.50% of the company’s stock.

Eagle Point Credit Trading Down 0.6%

Eagle Point Credit stock opened at $4.03 on Wednesday. The company has a quick ratio of 0.23, a current ratio of 0.23 and a debt-to-equity ratio of 0.02. The firm has a 50-day moving average price of $4.04 and a two-hundred day moving average price of $4.73. The firm has a market capitalization of $532.15 million, a price-to-earnings ratio of 4.24 and a beta of 0.35. Eagle Point Credit Company Inc. has a 52-week low of $3.46 and a 52-week high of $7.87.

Eagle Point Credit (NYSE:ECC) last posted its earnings results on Tuesday, May 19th. The investment management company reported $0.20 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.03). The firm had revenue of $42.40 million for the quarter, compared to analyst estimates of $48.79 million. Eagle Point Credit had a net margin of 12.33% and a return on equity of 13.47%. Sell-side analysts expect that Eagle Point Credit Company Inc. will post 0.71 earnings per share for the current year.

Eagle Point Credit Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 30th. Shareholders of record on Thursday, September 10th will be paid a dividend of $0.06 per share. This represents a c) dividend on an annualized basis and a yield of 17.9%. The ex-dividend date of this dividend is Thursday, September 10th. Eagle Point Credit’s payout ratio is presently 160.00%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ECC. B. Riley Financial lowered their price objective on shares of Eagle Point Credit from $7.00 to $4.25 and set a “buy” rating for the company in a research report on Monday, March 16th. Credit Suisse Group set a $5.00 price objective on shares of Eagle Point Credit in a research report on Wednesday, February 18th. Alliance Global Partners reaffirmed a “buy” rating on shares of Eagle Point Credit in a research report on Wednesday, April 15th. LADENBURG THALM/SH SH downgraded shares of Eagle Point Credit from a “buy” rating to a “neutral” rating in a research report on Monday, March 2nd. Finally, Zacks Research raised shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research report on Friday, May 1st. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $6.50.

Insider Transactions at Eagle Point Credit

In other news, Portfolio Manager Daniel W. Ko bought 57,165 shares of Eagle Point Credit stock in a transaction on Wednesday, March 18th. The stock was purchased at an average cost of $3.50 per share, with a total value of $200,077.50. Following the purchase, the portfolio manager directly owned 82,665 shares of the company’s stock, valued at approximately $289,327.50. This trade represents a 224.18% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.26% of the stock is owned by insiders.

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.