NBC Securities Inc. Acquires Shares of 4,000 Eagle Point Credit Company Inc. (NYSE:ECC)

NBC Securities Inc. bought a new position in shares of Eagle Point Credit Company Inc. (NYSE:ECC) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,000 shares of the investment management company’s stock, valued at approximately $32,000.

A number of other large investors have also recently made changes to their positions in ECC. Legacy Investment Solutions LLC grew its holdings in shares of Eagle Point Credit by 20,306.0% in the fourth quarter. Legacy Investment Solutions LLC now owns 847,871 shares of the investment management company’s stock worth $7,580,000 after purchasing an additional 843,716 shares during the last quarter. Wedbush Securities Inc. grew its holdings in shares of Eagle Point Credit by 17.0% in the fourth quarter. Wedbush Securities Inc. now owns 567,610 shares of the investment management company’s stock worth $5,040,000 after purchasing an additional 82,367 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Eagle Point Credit by 48.5% in the fourth quarter. Envestnet Asset Management Inc. now owns 246,876 shares of the investment management company’s stock worth $2,192,000 after purchasing an additional 80,616 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Eagle Point Credit in the fourth quarter worth about $2,038,000. Finally, Freestone Capital Holdings LLC grew its holdings in shares of Eagle Point Credit by 26.1% in the fourth quarter. Freestone Capital Holdings LLC now owns 222,083 shares of the investment management company’s stock worth $1,972,000 after purchasing an additional 46,006 shares during the last quarter. 19.50% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eagle Point Credit

In related news, CEO Thomas P. Majewski purchased 1,087 shares of Eagle Point Credit stock in a transaction dated Friday, March 21st. The stock was purchased at an average cost of $23.00 per share, with a total value of $25,001.00. Following the transaction, the chief executive officer now owns 1,087 shares in the company, valued at approximately $25,001. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ECC shares. Keefe, Bruyette & Woods cut their price target on shares of Eagle Point Credit from $9.00 to $7.50 and set a “market perform” rating on the stock in a report on Thursday, May 29th. Credit Suisse Group set a $7.50 target price on Eagle Point Credit in a report on Thursday, May 29th.

Eagle Point Credit Price Performance

Shares of ECC stock opened at $7.54 on Friday. Eagle Point Credit Company Inc. has a twelve month low of $6.54 and a twelve month high of $10.32. The stock has a market capitalization of $579.80 million, a price-to-earnings ratio of 8.97 and a beta of 0.42. The stock has a fifty day simple moving average of $7.68 and a two-hundred day simple moving average of $8.33. 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 (NYSE:ECC) last released its quarterly earnings results on Wednesday, May 28th. The investment management company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.26 by $0.02. The firm had revenue of $52.30 million during the quarter, compared to analyst estimates of $53.54 million. Eagle Point Credit had a return on equity of 12.53% and a net margin of 44.67%. On average, analysts predict that Eagle Point Credit Company Inc. will post 1.1 EPS for the current fiscal year.

Eagle Point Credit Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 10th will be given a $0.14 dividend. This represents a $1.68 annualized dividend and a dividend yield of 22.30%. The ex-dividend date is Wednesday, September 10th. Eagle Point Credit’s payout ratio is -420.00%.

Eagle Point Credit 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.