Clear Harbor Asset Management LLC Buys Shares of 104,060 Eagle Point Income Company Inc. $EIC

Clear Harbor Asset Management LLC bought a new position in Eagle Point Income Company Inc. (NYSE:EIC) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 104,060 shares of the company’s stock, valued at approximately $1,048,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EIC. TCTC Holdings LLC lifted its holdings in shares of Eagle Point Income by 38.5% during the 4th quarter. TCTC Holdings LLC now owns 3,600 shares of the company’s stock valued at $41,000 after buying an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in Eagle Point Income by 63.7% in the fourth quarter. EverSource Wealth Advisors LLC now owns 2,735 shares of the company’s stock worth $31,000 after buying an additional 1,064 shares during the last quarter. Astoria Portfolio Advisors LLC. raised its position in Eagle Point Income by 9.0% during the first quarter. Astoria Portfolio Advisors LLC. now owns 13,182 shares of the company’s stock valued at $132,000 after acquiring an additional 1,090 shares in the last quarter. Raymond James Financial Inc. raised its position in Eagle Point Income by 3.6% during the third quarter. Raymond James Financial Inc. now owns 48,471 shares of the company’s stock valued at $652,000 after acquiring an additional 1,701 shares in the last quarter. Finally, N.E.W. Advisory Services LLC lifted its stake in Eagle Point Income by 100.0% in the fourth quarter. N.E.W. Advisory Services LLC now owns 4,000 shares of the company’s stock valued at $46,000 after acquiring an additional 2,000 shares during the last quarter.

Eagle Point Income Price Performance

Eagle Point Income stock opened at $10.00 on Friday. Eagle Point Income Company Inc. has a fifty-two week low of $9.17 and a fifty-two week high of $13.92. The firm has a fifty day moving average price of $10.06 and a two-hundred day moving average price of $10.06.

Eagle Point Income (NYSE:EIC) last issued its quarterly earnings results on Thursday, August 13th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04. The business had revenue of ($3.11) million during the quarter, compared to analyst estimates of $12.15 million.

Eagle Point Income Dividend Announcement

The firm also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Shareholders of record on Friday, December 11th will be given a $0.11 dividend. This represents a c) annualized dividend and a yield of 13.2%. The ex-dividend date of this dividend is Friday, December 11th.

Analysts Set New Price Targets

Separately, Zacks Research raised shares of Eagle Point Income from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. One investment analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $11.25.

About Eagle Point Income

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.