International Assets Investment Management LLC Acquires New Shares in Eagle Point Credit Company Inc. (NYSE:ECC)

International Assets Investment Management LLC acquired a new stake in Eagle Point Credit Company Inc. (NYSE:ECC) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 74,936 shares of the investment management company’s stock, valued at approximately $7,600,000. International Assets Investment Management LLC owned approximately 0.10% of Eagle Point Credit as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Main Street Financial Solutions LLC increased its position in shares of 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 valued at $1,482,000 after buying an additional 72,067 shares in the last quarter. Worth Asset Management LLC boosted its stake in Eagle Point Credit by 359.7% in the 3rd quarter. Worth Asset Management LLC now owns 65,647 shares of the investment management company’s stock worth $647,000 after purchasing an additional 51,367 shares during the period. Wedbush Securities Inc. boosted its stake in Eagle Point Credit by 26.2% in the 2nd quarter. Wedbush Securities Inc. now owns 438,276 shares of the investment management company’s stock worth $4,405,000 after purchasing an additional 91,058 shares during the period. Oxinas Partners Wealth Management LLC boosted its stake in 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 purchasing an additional 54,240 shares during the period. Finally, PFG Investments LLC boosted its stake in Eagle Point Credit by 115.8% in the 2nd 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 during the period. Institutional investors own 19.50% of the company’s stock.

Eagle Point Credit Price Performance

Shares of NYSE ECC opened at $9.57 on Friday. The firm has a market cap of $736.39 million, a PE ratio of 5.15 and a beta of 0.76. The company has a current ratio of 2.98, a quick ratio of 2.98 and a debt-to-equity ratio of 0.19. Eagle Point Credit Company Inc. has a 1-year low of $8.90 and a 1-year high of $10.49. The company has a fifty day moving average price of $9.81 and a 200 day moving average price of $9.97.

Eagle Point Credit (NYSE:ECC) last announced its earnings results 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). Eagle Point Credit had a return on equity of 12.87% and a net margin of 76.61%. The company had revenue of $42.28 million during the quarter, compared to analyst estimates of $45.67 million. Research analysts predict that Eagle Point Credit Company Inc. will post 1.11 earnings per share for the current fiscal year.

Eagle Point Credit Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Wednesday, December 11th will be paid 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 17.55%. Eagle Point Credit’s dividend payout ratio is 90.32%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods reduced their target price on shares of Eagle Point Credit from $10.50 to $10.00 and set a “market perform” rating for the company in a research note on Wednesday, August 7th.

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.