Eagle Point Credit Company Inc. (NYSE:ECC) Shares Purchased by Thomas J. Herzfeld Advisors Inc.

Thomas J. Herzfeld Advisors Inc. boosted its holdings in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 66.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 206,460 shares of the investment management company's stock after buying an additional 82,061 shares during the quarter. Thomas J. Herzfeld Advisors Inc. owned 0.27% of Eagle Point Credit worth $1,833,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. raised its stake in shares of Eagle Point Credit by 2.8% in the third quarter. Rockefeller Capital Management L.P. now owns 77,375 shares of the investment management company's stock valued at $763,000 after acquiring an additional 2,112 shares in the last quarter. Stifel Financial Corp purchased a new stake in Eagle Point Credit during the 3rd quarter worth about $149,000. Legacy Investment Solutions LLC acquired a new stake in Eagle Point Credit in the 3rd quarter valued at about $39,000. McIlrath & Eck LLC purchased a new position in shares of Eagle Point Credit in the 3rd quarter valued at about $57,000. Finally, Janney Montgomery Scott LLC grew its position in shares of Eagle Point Credit by 35.0% during the fourth quarter. Janney Montgomery Scott LLC now owns 50,370 shares of the investment management company's stock worth $447,000 after buying an additional 13,067 shares in the last quarter. Hedge funds and other institutional investors own 19.50% of the company's stock.

Analysts Set New Price Targets

Separately, B. Riley reduced their target price 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.

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Eagle Point Credit Stock Performance

Shares of ECC stock opened at $8.09 on Tuesday. The company has a market cap of $622.12 million, a P/E ratio of 9.63 and a beta of 0.73. The firm has a fifty day moving average price of $8.54 and a 200 day moving average price of $9.07. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit Company Inc. has a 12 month low of $7.36 and a 12 month high of $10.49.

Eagle Point Credit (NYSE:ECC - Get Free Report) last posted its 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 for the quarter, compared to analysts' expectations of $49.76 million. Sell-side analysts predict 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 announced a dividend, which will be paid on Wednesday, April 30th. Investors 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 200.00%.

Insider Buying and Selling

In other news, CEO Thomas P. Majewski bought 1,087 shares of the business's stock in a transaction dated Friday, March 21st. The shares were acquired at an average price of $23.00 per share, for a total transaction of $25,001.00. Following the completion of the transaction, the chief executive officer now owns 1,087 shares of the company's stock, valued at approximately $25,001. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.22% of the stock is owned by company insiders.

Eagle Point Credit Company 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.

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