International Assets Investment Management LLC Takes Position in Eagle Point Credit Company Inc. (NYSE:ECC)

International Assets Investment Management LLC purchased a new stake in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 74,936 shares of the investment management company's stock, valued at approximately $7,600,000. International Assets Investment Management LLC owned 0.10% of Eagle Point Credit as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of ECC. Cadent Capital Advisors LLC boosted its holdings in Eagle Point Credit by 7.8% in the 2nd quarter. Cadent Capital Advisors LLC now owns 451,611 shares of the investment management company's stock worth $4,539,000 after buying an additional 32,666 shares during the period. Wedbush Securities Inc. boosted 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 worth $4,405,000 after acquiring an additional 91,058 shares during the period. PFG Investments LLC grew its position in shares of Eagle Point Credit by 115.8% during the second quarter. PFG Investments LLC now owns 387,398 shares of the investment management company's stock worth $3,893,000 after purchasing an additional 207,875 shares in the last quarter. Oxinas Partners Wealth Management LLC raised its stake in Eagle Point Credit by 44.0% during the 3rd quarter. Oxinas Partners Wealth Management LLC now owns 177,492 shares of the investment management company's stock valued at $1,750,000 after purchasing an additional 54,240 shares during the period. Finally, Main Street Financial Solutions LLC lifted its holdings in Eagle Point Credit by 95.6% in 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 purchasing an additional 72,067 shares in the last quarter. Hedge funds and other institutional investors own 19.50% of the company's stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods reduced their price objective on shares of Eagle Point Credit from $10.50 to $10.00 and set a "market perform" rating on the stock in a research report on Wednesday, August 7th.

Eagle Point Credit Price Performance

ECC stock traded up $0.12 during mid-day trading on Friday, hitting $9.69. The company had a trading volume of 859,949 shares, compared to its average volume of 830,969. The company has a market capitalization of $745.63 million, a price-to-earnings ratio of 5.62 and a beta of 0.76. The company has a 50-day moving average price of $9.81 and a 200 day moving average price of $9.97. The company has a quick ratio of 2.98, a current ratio of 2.98 and a debt-to-equity ratio of 0.19. Eagle Point Credit Company Inc. has a 12-month low of $9.22 and a 12-month high of $10.49.

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 earnings per share 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 firm had revenue of $42.28 million for the quarter, compared to analysts' expectations of $45.67 million. On average, research analysts anticipate that Eagle Point Credit Company Inc. will post 1.11 earnings per share for the current year.

Eagle Point Credit Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be issued a $0.14 dividend. The ex-dividend date is Wednesday, December 11th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 17.34%. Eagle Point Credit's dividend payout ratio (DPR) is presently 98.25%.

Eagle Point Credit Company 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.