Freestone Capital Holdings LLC Acquires 46,006 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

Freestone Capital Holdings LLC boosted its position in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 26.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 222,083 shares of the investment management company's stock after purchasing an additional 46,006 shares during the quarter. Freestone Capital Holdings LLC owned about 0.29% of Eagle Point Credit worth $1,972,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new stake in shares of Eagle Point Credit during the fourth quarter valued at approximately $2,038,000. Money Concepts Capital Corp purchased a new stake in Eagle Point Credit during the 4th quarter valued at $1,696,000. PFG Investments LLC increased its holdings in shares of Eagle Point Credit by 11.9% in the 4th quarter. PFG Investments LLC now owns 619,399 shares of the investment management company's stock worth $5,500,000 after purchasing an additional 65,893 shares in the last quarter. J.W. Cole Advisors Inc. raised its stake in shares of Eagle Point Credit by 38.3% in the fourth quarter. J.W. Cole Advisors Inc. now owns 151,809 shares of the investment management company's stock worth $1,348,000 after purchasing an additional 42,035 shares during the last quarter. Finally, Apollon Wealth Management LLC bought a new position in shares of Eagle Point Credit during the fourth quarter valued at $163,000. 19.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, B. Riley reduced their price objective on Eagle Point Credit from $12.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, January 7th.

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Eagle Point Credit Stock Performance

Eagle Point Credit stock traded down $0.04 during midday trading on Monday, reaching $8.77. 1,802,321 shares of the company traded hands, compared to its average volume of 962,135. The company has a debt-to-equity ratio of 0.18, a current ratio of 2.27 and a quick ratio of 2.27. Eagle Point Credit Company Inc. has a 12 month low of $8.56 and a 12 month high of $10.49. The firm has a market capitalization of $674.45 million, a price-to-earnings ratio of 10.43 and a beta of 0.73. The business has a 50 day moving average of $8.82 and a two-hundred day moving average of $9.28.

Eagle Point Credit (NYSE:ECC - Get Free Report) last released its quarterly 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 net margin of 44.67% and a return on equity of 12.53%. The firm had revenue of $49.55 million for the quarter, compared to the consensus estimate of $49.76 million. As a group, research analysts predict that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current year.

Eagle Point Credit Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, June 30th. Shareholders of record on Tuesday, June 10th will be given a $0.14 dividend. The ex-dividend date of this dividend is Tuesday, June 10th. This represents a $1.68 annualized dividend and a yield of 19.17%. Eagle Point Credit's payout ratio is 200.00%.

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.