J.W. Cole Advisors Inc. Purchases 42,035 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

J.W. Cole Advisors Inc. raised its holdings in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 38.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,809 shares of the investment management company's stock after purchasing an additional 42,035 shares during the period. J.W. Cole Advisors Inc. owned approximately 0.20% of Eagle Point Credit worth $1,348,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stifel Financial Corp acquired a new position in shares of Eagle Point Credit in the 3rd quarter valued at approximately $149,000. PFG Investments LLC raised its position in shares of Eagle Point Credit by 42.9% in the 3rd quarter. PFG Investments LLC now owns 553,506 shares of the investment management company's stock valued at $5,458,000 after buying an additional 166,108 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Eagle Point Credit in the 3rd quarter valued at approximately $7,600,000. Strategic Financial Concepts LLC acquired a new position in shares of Eagle Point Credit in the 4th quarter valued at approximately $158,000. Finally, Apollon Wealth Management LLC acquired a new position in shares of Eagle Point Credit in the 4th quarter valued at approximately $163,000. 19.50% of the stock is currently owned by institutional investors and hedge funds.

Eagle Point Credit Price Performance

ECC stock traded down $0.08 during trading on Friday, reaching $8.79. 861,602 shares of the company were exchanged, compared to its average volume of 957,372. The company has a 50-day moving average of $8.84 and a two-hundred day moving average of $9.37. The company has a market capitalization of $676.01 million, a price-to-earnings ratio of 10.98 and a beta of 0.75. Eagle Point Credit Company Inc. has a twelve month low of $8.56 and a twelve month high of $10.49. 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 (NYSE:ECC - Get Free Report) last released its quarterly earnings data 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 company had revenue of $49.55 million for the quarter, compared to analyst estimates of $49.76 million. Eagle Point Credit had a return on equity of 12.87% and a net margin of 36.60%. As a group, equities analysts predict that Eagle Point Credit Company Inc. will post 1.13 earnings per share for the current fiscal year.

Eagle Point Credit Dividend Announcement

The firm also recently declared 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. This represents a $1.68 annualized dividend and a yield of 19.12%. The ex-dividend date is Tuesday, June 10th. Eagle Point Credit's dividend payout ratio (DPR) is currently 210.00%.

Wall Street Analyst Weigh In

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

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.