PFG Investments LLC grew its stake in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 42.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 553,506 shares of the investment management company's stock after purchasing an additional 166,108 shares during the period. PFG Investments LLC owned approximately 0.72% of Eagle Point Credit worth $5,458,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also modified their holdings of ECC. Cadent Capital Advisors LLC lifted its holdings in Eagle Point Credit by 7.8% during the 2nd quarter. Cadent Capital Advisors LLC now owns 451,611 shares of the investment management company's stock valued at $4,539,000 after purchasing an additional 32,666 shares during the last quarter. Wedbush Securities Inc. raised its stake in shares of Eagle Point Credit by 26.2% in the second quarter. Wedbush Securities Inc. now owns 438,276 shares of the investment management company's stock valued at $4,405,000 after acquiring an additional 91,058 shares during the last quarter. Oxinas Partners Wealth Management LLC boosted its holdings in shares of Eagle Point Credit by 44.0% in the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 177,492 shares of the investment management company's stock worth $1,750,000 after acquiring an additional 54,240 shares in the last quarter. Main Street Financial Solutions LLC grew its position in Eagle Point Credit by 95.6% during the 2nd quarter. Main Street Financial Solutions LLC now owns 147,447 shares of the investment management company's stock worth $1,482,000 after acquiring an additional 72,067 shares during the last quarter. Finally, TrueMark Investments LLC acquired a new stake in Eagle Point Credit during the 2nd quarter valued at $1,444,000. 19.50% of the stock is owned by institutional investors and hedge funds.
Eagle Point Credit Price Performance
NYSE:ECC traded up $0.04 during mid-day trading on Friday, reaching $9.61. 806,203 shares of the company were exchanged, compared to its average volume of 831,415. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.19. The stock has a market cap of $739.47 million, a PE ratio of 5.17 and a beta of 0.76. Eagle Point Credit Company Inc. has a 12 month low of $8.60 and a 12 month high of $10.49. The company has a fifty day moving average of $9.84 and a 200 day moving average of $9.98.
Eagle Point Credit (NYSE:ECC - Get Free Report) last released its quarterly earnings results on Tuesday, August 6th. The investment management company reported $0.28 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.08). Eagle Point Credit had a net margin of 76.61% and a return on equity of 12.87%. The company had revenue of $42.28 million for the quarter, compared to the consensus estimate of $45.67 million. On average, research analysts anticipate that Eagle Point Credit Company Inc. will post 1.11 EPS for the current fiscal year.
Eagle Point Credit Dividend Announcement
The company also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 17.48%. Eagle Point Credit's payout ratio is currently 90.32%.
Analysts Set New Price Targets
Separately, Keefe, Bruyette & Woods reduced their price objective on Eagle Point Credit from $10.50 to $10.00 and set a "market perform" rating on the stock in a research note on Wednesday, August 7th.
View Our Latest Stock Analysis on Eagle Point Credit
About Eagle Point Credit
(
Free Report)
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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