Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) CEO Thomas P. Majewski acquired 1,087 shares of the company's stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $23.00 per share, for a total transaction 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 $25,001. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Eagle Point Credit Stock Performance
Shares of Eagle Point Credit stock traded up $0.07 on Tuesday, reaching $8.03. 823,258 shares of the stock were exchanged, compared to its average volume of 1,014,689. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. The firm has a market capitalization of $617.89 million, a PE ratio of 9.56 and a beta of 0.73. Eagle Point Credit Company Inc. has a 1-year low of $7.36 and a 1-year high of $10.49. The business has a fifty day moving average price of $8.62 and a two-hundred day moving average price of $9.13.
Eagle Point Credit (NYSE:ECC - Get Free Report) last released its earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $49.55 million for the quarter, compared to analyst estimates 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, research analysts anticipate that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current fiscal year.
Eagle Point Credit Dividend Announcement
The firm also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Shareholders 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 payout ratio is 200.00%.
Wall Street Analysts Forecast Growth
Separately, B. Riley lowered 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 research report on Tuesday, January 7th.
Get Our Latest Report on ECC
Institutional Investors Weigh In On Eagle Point Credit
Several institutional investors have recently made changes to their positions in ECC. B. Riley Wealth Advisors Inc. increased its holdings in shares of Eagle Point Credit by 16.9% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 17,061 shares of the investment management company's stock valued at $152,000 after purchasing an additional 2,463 shares in the last quarter. Ameriflex Group Inc. purchased a new position in Eagle Point Credit in the fourth quarter valued at about $70,000. Cresset Asset Management LLC increased its holdings in Eagle Point Credit by 89.4% in the fourth quarter. Cresset Asset Management LLC now owns 57,177 shares of the investment management company's stock valued at $508,000 after buying an additional 26,990 shares in the last quarter. Cetera Investment Advisers lifted its position in shares of Eagle Point Credit by 53.5% during the 4th quarter. Cetera Investment Advisers now owns 28,109 shares of the investment management company's stock valued at $250,000 after acquiring an additional 9,796 shares during the period. Finally, Lido Advisors LLC purchased a new stake in shares of Eagle Point Credit during the 4th quarter worth approximately $162,000. 19.50% of the stock is currently owned by hedge funds and other institutional investors.
Eagle Point Credit Company Profile
(
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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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