Legacy Investment Solutions LLC increased its holdings in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 20,306.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 847,871 shares of the investment management company's stock after purchasing an additional 843,716 shares during the quarter. Eagle Point Credit makes up about 4.4% of Legacy Investment Solutions LLC's investment portfolio, making the stock its 6th biggest holding. Legacy Investment Solutions LLC owned 1.10% of Eagle Point Credit worth $7,580,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Stifel Financial Corp bought a new stake in shares of Eagle Point Credit during the 3rd quarter worth approximately $149,000. McIlrath & Eck LLC bought a new stake in Eagle Point Credit during the third quarter worth $57,000. Janney Montgomery Scott LLC lifted its stake in Eagle Point Credit by 35.0% in the fourth quarter. Janney Montgomery Scott LLC now owns 50,370 shares of the investment management company's stock valued at $447,000 after acquiring an additional 13,067 shares during the last quarter. PFG Investments LLC lifted its stake in Eagle Point Credit by 11.9% in the fourth quarter. PFG Investments LLC now owns 619,399 shares of the investment management company's stock valued at $5,500,000 after acquiring an additional 65,893 shares during the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new position in shares of Eagle Point Credit in the 4th quarter valued at about $98,000. Institutional investors own 19.50% of the company's stock.
Eagle Point Credit Stock Performance
ECC traded up $0.44 during trading hours on Tuesday, reaching $7.38. The company's stock had a trading volume of 4,608,697 shares, compared to its average volume of 1,086,904. The company's 50-day moving average is $8.21 and its 200-day moving average is $8.88. Eagle Point Credit Company Inc. has a 52 week low of $6.54 and a 52 week high of $10.49. The firm has a market cap of $567.72 million, a PE ratio of 8.78 and a beta of 0.35. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27.
Eagle Point Credit (NYSE:ECC - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The investment management company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.01). The company had revenue of $49.55 million during the quarter, compared to analyst estimates of $49.76 million. Eagle Point Credit had a net margin of 44.67% and a return on equity of 12.53%. On average, equities analysts forecast that Eagle Point Credit Company Inc. will post 1.1 EPS for the current 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 given a dividend of $0.14 per share. The ex-dividend date is Thursday, April 10th. Eagle Point Credit's dividend payout ratio (DPR) is presently 200.00%.
Analyst Ratings Changes
Separately, B. Riley cut their target price on shares of Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th.
Get Our Latest Stock Report on ECC
Insider Transactions at Eagle Point Credit
In other news, CEO Thomas P. Majewski purchased 1,087 shares of the company's stock in a transaction that occurred on Friday, March 21st. The stock was acquired at an average cost of $23.00 per share, with a total value of $25,001.00. Following the acquisition, the chief executive officer now owns 1,087 shares in the company, valued at approximately $25,001. This trade represents a ∞ increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.22% of the company's stock.
Eagle Point Credit Profile
(
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.
Further Reading
Before you consider Eagle Point Credit, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eagle Point Credit wasn't on the list.
While Eagle Point Credit currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
