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

Eagle Point Credit Company Inc. (NYSE:ECC - Get Free Report) hit a new 52-week low on Friday . The company traded as low as $7.29 and last traded at $7.45, with a volume of 924499 shares trading hands. The stock had previously closed at $7.74.

Analysts Set New Price Targets

Separately, B. Riley lowered their price target 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 Stock Performance

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 stock's 50 day moving average price is $8.37 and its two-hundred day moving average price is $8.96. The firm has a market capitalization of $619.43 million, a PE ratio of 9.58 and a beta of 0.35.

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 analysts' consensus estimates of $0.28 by ($0.01). The firm had revenue of $49.55 million during the quarter, compared to analysts' expectations 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 expect that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current year.

Eagle Point Credit Announces Dividend

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

Insider Activity at Eagle Point Credit

In other Eagle Point Credit news, CEO Thomas P. Majewski purchased 1,087 shares of the business's stock in a transaction that occurred on Friday, March 21st. The shares were purchased at an average price of $23.00 per share, for a total transaction of $25,001.00. Following the completion of the acquisition, the chief executive officer now owns 1,087 shares of the company's stock, valued at approximately $25,001. This represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.22% of the stock is owned by insiders.

Institutional Investors Weigh In On Eagle Point Credit

Several institutional investors and hedge funds have recently modified their holdings of ECC. Freestone Capital Holdings LLC grew its position in Eagle Point Credit by 26.1% in the fourth quarter. Freestone Capital Holdings LLC now owns 222,083 shares of the investment management company's stock valued at $1,972,000 after acquiring an additional 46,006 shares in the last quarter. Stifel Financial Corp acquired a new stake in Eagle Point Credit during the 3rd quarter valued at $149,000. Balboa Wealth Partners purchased a new stake in Eagle Point Credit during the 4th quarter worth $839,000. Raymond James Financial Inc. acquired a new position in Eagle Point Credit in the 4th quarter worth $2,038,000. Finally, Thomas J. Herzfeld Advisors Inc. boosted its position in Eagle Point Credit by 66.0% in the 4th quarter. Thomas J. Herzfeld Advisors Inc. now owns 206,460 shares of the investment management company's stock valued at $1,833,000 after buying an additional 82,061 shares during the last quarter. Hedge funds and other institutional investors own 19.50% of the company's stock.

About Eagle Point Credit

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.