Eagle Point Credit Company Inc. (NYSE:ECC) Shares Purchased by J.W. Cole Advisors Inc.

J.W. Cole Advisors Inc. grew its position in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 92.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,774 shares of the investment management company's stock after purchasing an additional 52,782 shares during the quarter. J.W. Cole Advisors Inc. owned about 0.14% of Eagle Point Credit worth $1,082,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Webster Bank N. A. purchased a new position in shares of Eagle Point Credit in the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC purchased a new position in shares of Eagle Point Credit in the second quarter worth $60,000. Sunbelt Securities Inc. lifted its stake in shares of 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 worth $75,000 after buying an additional 6,464 shares during the period. CFO4Life Group LLC purchased a new stake in shares of Eagle Point Credit during the first quarter valued at $105,000. Finally, Silverleafe Capital Partners LLC acquired a new position in shares of Eagle Point Credit in the 2nd quarter valued at $109,000. 19.50% of the stock is owned by institutional investors and hedge funds.

Eagle Point Credit Price Performance

NYSE:ECC remained flat at $9.55 during midday trading on Wednesday. 800,432 shares of the company traded hands, compared to its average volume of 831,315. Eagle Point Credit Company Inc. has a one year low of $8.90 and a one year high of $10.49. The company has a debt-to-equity ratio of 0.19, a quick ratio of 2.98 and a current ratio of 2.98. The company has a market capitalization of $734.85 million, a price-to-earnings ratio of 5.13 and a beta of 0.76. The company's fifty day simple moving average is $9.82 and its 200 day simple moving average is $9.98.

Eagle Point Credit (NYSE:ECC - Get Free Report) last released its quarterly earnings data on Tuesday, August 6th. The investment management company reported $0.28 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.08). The business had revenue of $42.28 million during the quarter, compared to analyst estimates of $45.67 million. Eagle Point Credit had a return on equity of 12.87% and a net margin of 76.61%. As a group, analysts forecast that Eagle Point Credit Company Inc. will post 1.11 EPS for the current year.

Eagle Point Credit Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be paid a $0.14 dividend. 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 17.59%. Eagle Point Credit's payout ratio is 90.32%.

Analysts Set New Price Targets

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