TrueMark Investments LLC lessened its holdings in Eagle Point Credit Company Inc. (NYSE:ECC - Free Report) by 48.4% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 157,967 shares of the investment management company's stock after selling 147,984 shares during the period. TrueMark Investments LLC owned about 0.21% of Eagle Point Credit worth $1,403,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently made changes to their positions in ECC. Raymond James Financial Inc. bought a new stake in Eagle Point Credit during the fourth quarter valued at about $2,038,000. Money Concepts Capital Corp bought a new position in shares of Eagle Point Credit during the 4th quarter valued at approximately $1,696,000. Balboa Wealth Partners purchased a new stake in Eagle Point Credit in the 4th quarter worth approximately $839,000. PFG Investments LLC increased its holdings in Eagle Point Credit by 11.9% in 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 in the last quarter. Finally, Freestone Capital Holdings LLC raised its stake in Eagle Point Credit by 26.1% during the 4th quarter. Freestone Capital Holdings LLC now owns 222,083 shares of the investment management company's stock worth $1,972,000 after acquiring an additional 46,006 shares during the period. Hedge funds and other institutional investors own 19.50% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, B. Riley dropped their price target 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.
Check Out Our Latest Analysis on ECC
Insiders Place Their Bets
In other Eagle Point Credit news, CEO Thomas P. Majewski acquired 1,087 shares of the stock in a transaction on Friday, March 21st. The stock was acquired at an average price of $23.00 per share, for a total transaction of $25,001.00. Following the completion of the transaction, the chief executive officer now directly owns 1,087 shares of the company's stock, valued at $25,001. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.22% of the company's stock.
Eagle Point Credit Price Performance
Shares of Eagle Point Credit stock traded down $0.01 during trading hours on Friday, hitting $8.04. The company's stock had a trading volume of 608,304 shares, compared to its average volume of 1,018,634. The company has a debt-to-equity ratio of 0.18, a quick ratio of 2.27 and a current ratio of 2.27. Eagle Point Credit Company Inc. has a 12-month low of $7.36 and a 12-month high of $10.49. The business has a 50 day moving average price of $8.55 and a two-hundred day moving average price of $9.09. The company has a market cap of $618.97 million, a PE ratio of 9.58 and a beta of 0.73.
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 for the quarter, missing the consensus estimate of $0.28 by ($0.01). The business had revenue of $49.55 million during 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%. Analysts expect that Eagle Point Credit Company Inc. will post 1.1 earnings per share for the current fiscal year.
Eagle Point Credit Announces Dividend
The company also recently disclosed a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be given a dividend of $0.14 per share. The ex-dividend date is Thursday, April 10th. Eagle Point Credit's payout ratio is 200.00%.
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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