Eagle Point Income (NYSE:EIC) Receives Neutral Rating from LADENBURG THALM/SH SH

Eagle Point Income (NYSE:EIC)‘s stock had its “neutral” rating reiterated by analysts at LADENBURG THALM/SH SH in a research note issued to investors on Friday, MarketBeat reports.

Other analysts also recently issued reports about the company. B. Riley Financial cut their target price on Eagle Point Income from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Zacks Research raised Eagle Point Income from a “strong sell” rating to a “hold” rating in a research note on Monday, January 19th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $14.00.

Eagle Point Income Price Performance

NYSE EIC opened at $10.03 on Friday. The firm has a 50-day moving average price of $10.87 and a two-hundred day moving average price of $11.95. Eagle Point Income has a 12-month low of $9.78 and a 12-month high of $16.05.

Eagle Point Income (NYSE:EIC) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Astoria Portfolio Advisors LLC. boosted its stake in shares of Eagle Point Income by 17.6% in the 4th quarter. Astoria Portfolio Advisors LLC. now owns 12,092 shares of the company’s stock valued at $138,000 after purchasing an additional 1,807 shares in the last quarter. XTX Topco Ltd acquired a new stake in Eagle Point Income in the fourth quarter valued at approximately $483,000. Rivernorth Capital Management LLC bought a new stake in shares of Eagle Point Income during the fourth quarter worth $5,992,000. Evolve Private Wealth LLC bought a new stake in shares of Eagle Point Income during the fourth quarter worth $122,000. Finally, Almitas Capital LLC acquired a new position in shares of Eagle Point Income during the fourth quarter worth $919,000.

Eagle Point Income Company Profile

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.