Balboa Wealth Partners acquired a new stake in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 94,508 shares of the investment management company's stock, valued at approximately $839,000. Balboa Wealth Partners owned 0.12% of Eagle Point Credit as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Union Bancaire Privee UBP SA acquired a new stake in shares of Eagle Point Credit in the fourth quarter valued at about $27,000. Legacy Investment Solutions LLC bought a new stake in Eagle Point Credit in the third quarter valued at approximately $39,000. McIlrath & Eck LLC acquired a new stake in Eagle Point Credit during the 3rd quarter valued at approximately $57,000. Kingswood Wealth Advisors LLC bought a new stake in Eagle Point Credit during the fourth quarter valued at $98,000. Finally, Ieq Capital LLC bought a new stake in Eagle Point Credit during the fourth quarter valued at $145,000. 19.50% of the stock is owned by institutional investors.
Eagle Point Credit Stock Down 2.4 %
Shares of Eagle Point Credit stock traded down $0.20 during trading on Monday, reaching $8.05. 1,839,041 shares of the company traded hands, compared to its average volume of 984,664. The firm has a market capitalization of $619.05 million, a PE ratio of 9.58 and a beta of 0.73. Eagle Point Credit Company Inc. has a 1-year low of $8.05 and a 1-year high of $10.49. The company has a 50 day moving average price of $8.76 and a 200-day moving average price of $9.22. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27.
Eagle Point Credit (NYSE:ECC - Get Free Report) last issued its earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.28 by ($0.01). The firm had revenue of $49.55 million during the quarter, compared to the consensus estimate of $49.76 million. Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. As a group, equities research analysts expect that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current fiscal year.
Eagle Point Credit Dividend Announcement
The business also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Thursday, April 10th will be issued a dividend of $0.14 per share. The ex-dividend date is Thursday, April 10th. Eagle Point Credit's dividend payout ratio is currently 200.00%.
Analysts Set New Price Targets
Separately, B. Riley cut their target price on Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th.
Read Our Latest Stock Analysis on ECC
About Eagle Point Credit
(
Free Report)
Eagle Point Credit Company Inc is a closed ended fund launched and managed by Eagle Point Credit Management LLC. It invests in fixed income markets of the United States. The fund invests equity and junior debt tranches of collateralized loan obligations consisting primarily of below investment grade U.S.
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