Eagle Point Credit Company Inc. (NYSE:ECC) Shares Sold by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S reduced its position in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 35.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,052 shares of the investment management company's stock after selling 37,398 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned 0.09% of Eagle Point Credit worth $595,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Union Bancaire Privee UBP SA purchased a new position in Eagle Point Credit during the fourth quarter worth approximately $27,000. McIlrath & Eck LLC acquired a new position in shares of Eagle Point Credit during the 3rd quarter worth approximately $57,000. Brown Brothers Harriman & Co. purchased a new position in shares of Eagle Point Credit during the 4th quarter valued at approximately $93,000. Kingswood Wealth Advisors LLC acquired a new stake in Eagle Point Credit in the 4th quarter valued at $98,000. Finally, Summitry LLC acquired a new stake in Eagle Point Credit in the 4th quarter valued at $107,000. 19.50% of the stock is currently owned by institutional investors and hedge funds.

Eagle Point Credit Price Performance

NYSE ECC traded up $0.07 during mid-day trading on Friday, hitting $7.79. The stock had a trading volume of 797,299 shares, compared to its average volume of 1,115,384. Eagle Point Credit Company Inc. has a twelve month low of $6.54 and a twelve month high of $10.49. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. The firm's 50 day moving average is $8.02 and its 200 day moving average is $8.75. The stock has a market capitalization of $599.04 million, a price-to-earnings ratio of 9.27 and a beta of 0.35.

Eagle Point Credit (NYSE:ECC - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.01). Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. The business had revenue of $49.55 million during the quarter, compared to analysts' expectations of $49.76 million. Equities research analysts forecast 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 declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a $0.14 dividend. The ex-dividend date of this dividend is Thursday, April 10th. Eagle Point Credit's dividend payout ratio (DPR) is presently 200.00%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ECC shares. B. Riley decreased their price objective on shares of Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th. Credit Suisse Group set a $10.00 price target on shares of Eagle Point Credit in a research note on Monday, April 21st.

Insider Activity at Eagle Point Credit

In related news, CEO Thomas P. Majewski acquired 1,087 shares of the stock in a transaction on Friday, March 21st. The shares were bought at an average price of $23.00 per share, with a total value of $25,001.00. Following the completion of the purchase, the chief executive officer now owns 1,087 shares of the company's stock, valued at approximately $25,001. This represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.17% of the company's stock.

Eagle Point Credit Profile

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.