Eagle Point Credit Company Inc. $ECC Shares Sold by Legacy Wealth Managment LLC ID

Legacy Wealth Managment LLC ID decreased its stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 96.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 22,977 shares of the investment management company’s stock after selling 552,582 shares during the quarter. Legacy Wealth Managment LLC ID’s holdings in Eagle Point Credit were worth $85,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ECC. Jane Street Group LLC acquired a new stake in shares of Eagle Point Credit in the 1st quarter worth $134,000. Creative Planning purchased a new position in shares of Eagle Point Credit during the 2nd quarter worth $96,000. NewEdge Advisors LLC boosted its position in shares of Eagle Point Credit by 647.5% during the 2nd quarter. NewEdge Advisors LLC now owns 22,260 shares of the investment management company’s stock valued at $171,000 after acquiring an additional 19,282 shares during the last quarter. Vident Advisory LLC purchased a new stake in shares of Eagle Point Credit in the second quarter valued at about $206,000. Finally, Corient Private Wealth LLC purchased a new stake in shares of Eagle Point Credit in the second quarter valued at about $128,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

Eagle Point Credit Price Performance

Eagle Point Credit stock opened at $3.92 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 0.03. The company has a 50-day moving average price of $3.81 and a 200 day moving average price of $3.90. Eagle Point Credit Company Inc. has a 12-month low of $3.46 and a 12-month high of $7.77. The stock has a market cap of $518.26 million, a P/E ratio of 6.43 and a beta of 0.36.

Eagle Point Credit (NYSE:ECC) last posted its earnings results on Thursday, August 13th. The investment management company reported $0.17 earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.01). Eagle Point Credit had a negative net margin of 84.29% and a negative return on equity of 1.83%. The firm had revenue of $37.90 million during the quarter, compared to analyst estimates of $41.62 million. Sell-side analysts anticipate that Eagle Point Credit Company Inc. will post 0.68 earnings per share for the current year.

Eagle Point Credit Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Thursday, December 31st. Stockholders of record on Friday, December 11th will be given a dividend of $0.06 per share. This represents a c) annualized dividend and a dividend yield of 18.4%. The ex-dividend date of this dividend is Friday, December 11th. Eagle Point Credit’s payout ratio is presently 196.72%.

Eagle Point Credit Company Profile

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.