Envestnet Asset Management Inc. Has $1.33 Million Stock Position in Eagle Point Income Company Inc. (NYSE:EIC)

Envestnet Asset Management Inc. increased its stake in Eagle Point Income Company Inc. (NYSE:EIC) by 5.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,869 shares of the company’s stock after purchasing an additional 4,358 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Eagle Point Income were worth $1,334,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Virtu Financial LLC purchased a new position in shares of Eagle Point Income in the third quarter worth approximately $216,000. Graypoint LLC boosted its stake in Eagle Point Income by 19.2% in the 4th quarter. Graypoint LLC now owns 197,136 shares of the company’s stock worth $3,063,000 after purchasing an additional 31,813 shares during the period. Principal Securities Inc. grew its position in Eagle Point Income by 5.3% during the 4th quarter. Principal Securities Inc. now owns 85,869 shares of the company’s stock worth $1,334,000 after purchasing an additional 4,358 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Eagle Point Income during the 4th quarter valued at $842,000. Finally, LPL Financial LLC lifted its holdings in shares of Eagle Point Income by 14.3% in the fourth quarter. LPL Financial LLC now owns 27,976 shares of the company’s stock valued at $435,000 after purchasing an additional 3,504 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EIC. B. Riley upgraded Eagle Point Income to a “strong-buy” rating in a report on Tuesday, January 7th. LADENBURG THALM/SH SH raised Eagle Point Income to a “strong-buy” rating in a research note on Thursday, January 16th.

Eagle Point Income Trading Up 0.1 %

Eagle Point Income stock opened at $14.01 on Wednesday. The firm’s 50 day moving average price is $14.83 and its two-hundred day moving average price is $15.46. Eagle Point Income Company Inc. has a twelve month low of $12.73 and a twelve month high of $16.71.

Eagle Point Income (NYSE:EIC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.46 earnings per share for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.08). The firm had revenue of $13.67 million for the quarter, compared to analyst estimates of $13.54 million.

Eagle Point Income Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Thursday, April 10th will be paid a dividend of $0.20 per share. The ex-dividend date is Thursday, April 10th.

About Eagle Point Income

About Eagle Point Income Company is a non-diversified,closed-end management investment company. The Company’s primary investment objective is to generate high current income, with a secondary objective to generate capital appreciation, by investing primarily in junior debt tranches of CLOs. In addition, the Company may invest up to 20% of its total assets (at the time of investment) in CLO equity securities and related securities and instruments.