Virtus ETF Advisers LLC Has $1.62 Million Stake in Eagle Point Credit Company Inc. (NYSE:ECC)

Virtus ETF Advisers LLC lifted its position in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 43.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 182,235 shares of the investment management company's stock after acquiring an additional 54,903 shares during the quarter. Eagle Point Credit makes up 0.7% of Virtus ETF Advisers LLC's investment portfolio, making the stock its 6th largest position. Virtus ETF Advisers LLC owned approximately 0.24% of Eagle Point Credit worth $1,618,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Union Bancaire Privee UBP SA bought a new stake in shares of Eagle Point Credit during the 4th quarter valued at about $27,000. Transce3nd LLC bought a new stake in Eagle Point Credit during the fourth quarter valued at approximately $45,000. McIlrath & Eck LLC purchased a new position in Eagle Point Credit in the 3rd quarter worth approximately $57,000. Brown Brothers Harriman & Co. bought a new position in shares of Eagle Point Credit in the 4th quarter worth $93,000. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of Eagle Point Credit during the 4th quarter worth $98,000. Hedge funds and other institutional investors own 19.50% of the company's stock.

Eagle Point Credit Trading Down 0.1 %

Shares of NYSE ECC traded down $0.01 during midday trading on Tuesday, reaching $7.80. The company had a trading volume of 904,857 shares, compared to its average volume of 1,115,935. The stock has a market cap of $600.19 million, a PE ratio of 9.29 and a beta of 0.35. The firm's fifty day moving average price is $8.00 and its 200-day moving average price is $8.72. The company has a quick ratio of 2.27, a current ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit Company Inc. has a one year low of $6.54 and a one year high of $10.49.

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 for the quarter, missing analysts' consensus estimates 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. On average, equities research analysts anticipate that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current year.

Eagle Point Credit Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be issued a dividend of $0.14 per share. The ex-dividend date of this dividend is Thursday, April 10th. Eagle Point Credit's payout ratio is presently 200.00%.

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 dated Friday, March 21st. The shares were purchased at an average cost of $23.00 per share, for a total transaction of $25,001.00. Following the purchase, the chief executive officer now directly owns 1,087 shares in the company, valued at approximately $25,001. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.17% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on ECC. Credit Suisse Group set a $10.00 target price on Eagle Point Credit in a research note on Monday, April 21st. B. Riley decreased their price objective on Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating on the stock in a report on Tuesday, January 7th.

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.