Stephens Inc. AR Acquires 5,000 Shares of Eagle Point Credit Company Inc. (NYSE:ECC)

Stephens Inc. AR boosted its holdings in shares of Eagle Point Credit Company Inc. (NYSE:ECC) by 50.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 15,000 shares of the investment management company’s stock after acquiring an additional 5,000 shares during the quarter. Stephens Inc. AR’s holdings in Eagle Point Credit were worth $122,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Commonwealth Equity Services LLC raised its position in Eagle Point Credit by 1.6% during the fourth quarter. Commonwealth Equity Services LLC now owns 103,691 shares of the investment management company’s stock valued at $921,000 after acquiring an additional 1,666 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its position in Eagle Point Credit by 16.9% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 17,061 shares of the investment management company’s stock valued at $152,000 after acquiring an additional 2,463 shares in the last quarter. Parisi Gray Wealth Management raised its position in Eagle Point Credit by 3.3% during the first quarter. Parisi Gray Wealth Management now owns 79,108 shares of the investment management company’s stock valued at $641,000 after acquiring an additional 2,558 shares in the last quarter. AdvisorNet Financial Inc bought a new position in Eagle Point Credit during the first quarter valued at approximately $25,000. Finally, NBC Securities Inc. bought a new position in Eagle Point Credit during the first quarter valued at approximately $32,000. Institutional investors own 19.50% of the company’s stock.

Eagle Point Credit Trading Up 0.4%

Shares of Eagle Point Credit stock opened at $7.44 on Monday. The company’s fifty day simple moving average is $7.65 and its 200-day simple moving average is $8.07. The company has a market cap of $572.51 million, a price-to-earnings ratio of -18.60 and a beta of 0.41. The company has a current ratio of 2.23, a quick ratio of 2.23 and a debt-to-equity ratio of 0.32. Eagle Point Credit Company Inc. has a 1 year low of $6.54 and a 1 year high of $10.06.

Eagle Point Credit (NYSE:ECC) last announced its quarterly earnings data on Wednesday, May 28th. The investment management company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.02. Eagle Point Credit had a negative net margin of 27.15% and a positive return on equity of 12.90%. The business had revenue of $52.30 million for the quarter, compared to the consensus estimate of $53.54 million. As a group, sell-side analysts expect that Eagle Point Credit Company Inc. will post 1.1 EPS for the current year.

Eagle Point Credit Announces Dividend

The firm also recently declared a dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, July 14th will be paid a dividend of $0.14 per share. The ex-dividend date of this dividend is Friday, July 11th. This represents a yield of 21.79%. Eagle Point Credit’s dividend payout ratio is currently -420.00%.

Wall Street Analysts Forecast Growth

ECC has been the topic of several analyst reports. Keefe, Bruyette & Woods lowered their price target on 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 price target on Eagle Point Credit in a report on Thursday, May 29th.

About Eagle Point Credit

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.