Eagle Point Credit (NYSE:ECC) Reaches New 12-Month Low - Time to Sell?

Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report)'s stock price reached a new 52-week low during trading on Friday . The company traded as low as $8.89 and last traded at $8.94, with a volume of 138557 shares trading hands. The stock had previously closed at $8.94.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reduced their price target on Eagle Point Credit from $10.50 to $10.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 7th.

Eagle Point Credit Stock Performance

The company has a quick ratio of 2.98, a current ratio of 2.27 and a debt-to-equity ratio of 0.17. The company has a market capitalization of $696.40 million, a PE ratio of 11.31 and a beta of 0.76. The business has a 50 day simple moving average of $9.63 and a 200 day simple moving average of $9.90.

Eagle Point Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 11th will be issued a dividend of $0.14 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 18.56%. The ex-dividend date is Tuesday, March 11th. Eagle Point Credit's dividend payout ratio (DPR) is presently 210.00%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Webster Bank N. A. acquired a new position in Eagle Point Credit in the 3rd quarter worth approximately $28,000. Legacy Investment Solutions LLC purchased a new position in shares of Eagle Point Credit during the 3rd quarter valued at about $39,000. McIlrath & Eck LLC purchased a new stake in shares of Eagle Point Credit in the third quarter worth about $57,000. EverSource Wealth Advisors LLC acquired a new stake in Eagle Point Credit during the second quarter worth about $60,000. Finally, Sunbelt Securities Inc. raised its position in Eagle Point Credit by 646.4% during the second quarter. Sunbelt Securities Inc. now owns 7,464 shares of the investment management company's stock valued at $75,000 after acquiring an additional 6,464 shares in the last quarter. 19.50% of the stock is currently owned by hedge funds and other institutional investors.

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.