Raymond James Financial Inc. acquired a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 229,468 shares of the investment management company's stock, valued at approximately $2,038,000. Raymond James Financial Inc. owned 0.30% of Eagle Point Credit as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Money Concepts Capital Corp bought a new stake in shares of Eagle Point Credit in the fourth quarter valued at about $1,696,000. PFG Investments LLC boosted its position in Eagle Point Credit by 11.9% during the 4th quarter. PFG Investments LLC now owns 619,399 shares of the investment management company's stock worth $5,500,000 after acquiring an additional 65,893 shares during the last quarter. J.W. Cole Advisors Inc. grew its stake in shares of Eagle Point Credit by 38.3% during the 4th quarter. J.W. Cole Advisors Inc. now owns 151,809 shares of the investment management company's stock worth $1,348,000 after acquiring an additional 42,035 shares in the last quarter. Apollon Wealth Management LLC acquired a new stake in shares of Eagle Point Credit in the fourth quarter valued at approximately $163,000. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Eagle Point Credit in the fourth quarter valued at approximately $158,000. 19.50% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, CEO Thomas P. Majewski acquired 1,087 shares of the firm's stock in a transaction on Friday, March 21st. The shares were purchased at an average cost of $23.00 per share, with a total value of $25,001.00. Following the acquisition, the chief executive officer now directly owns 1,087 shares in the company, valued at $25,001. This represents a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.22% of the company's stock.
Eagle Point Credit Stock Up 1.0 %
Shares of NYSE:ECC traded up $0.08 during trading on Wednesday, hitting $8.29. 1,104,323 shares of the company were exchanged, compared to its average volume of 1,156,133. The stock has a market cap of $637.90 million, a price-to-earnings ratio of 9.87 and a beta of 0.73. The company has a current ratio of 2.27, a quick ratio of 2.27 and a debt-to-equity ratio of 0.18. Eagle Point Credit Company Inc. has a fifty-two week low of $7.36 and a fifty-two week high of $10.49. The firm has a fifty day moving average price of $8.52 and a two-hundred day moving average price of $9.06.
Eagle Point Credit (NYSE:ECC - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The investment management company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.01). The firm had revenue of $49.55 million for the quarter, compared to the consensus estimate of $49.76 million. Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. As a group, research analysts anticipate that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current fiscal year.
Eagle Point Credit Announces Dividend
The business also recently declared a dividend, which will be paid on Wednesday, April 30th. Investors of record on Thursday, April 10th will be paid a $0.14 dividend. The ex-dividend date is Thursday, April 10th. Eagle Point Credit's dividend payout ratio (DPR) is currently 200.00%.
Wall Street Analysts Forecast Growth
Separately, B. Riley decreased their target price 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.
Get Our Latest Stock Report on ECC
About Eagle Point Credit
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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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