Eagle Point Credit Company Inc. $ECC Shares Acquired by Cadent Capital Advisors LLC

Cadent Capital Advisors LLC increased its position in Eagle Point Credit Company Inc. (NYSE:ECC) by 6.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 255,502 shares of the investment management company’s stock after buying an additional 16,289 shares during the quarter. Cadent Capital Advisors LLC owned about 0.33% of Eagle Point Credit worth $1,957,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of ECC. Wedbush Securities Inc. lifted its holdings in shares of Eagle Point Credit by 31.3% in the first quarter. Wedbush Securities Inc. now owns 745,271 shares of the investment management company’s stock valued at $6,037,000 after buying an additional 177,661 shares during the period. Freestone Capital Holdings LLC lifted its holdings in shares of Eagle Point Credit by 57.9% in the first quarter. Freestone Capital Holdings LLC now owns 350,614 shares of the investment management company’s stock valued at $2,840,000 after buying an additional 128,531 shares during the period. Money Concepts Capital Corp raised its position in shares of Eagle Point Credit by 61.3% during the first quarter. Money Concepts Capital Corp now owns 308,196 shares of the investment management company’s stock worth $2,496,000 after purchasing an additional 117,157 shares during the period. J.W. Cole Advisors Inc. raised its position in shares of Eagle Point Credit by 75.6% during the first quarter. J.W. Cole Advisors Inc. now owns 266,515 shares of the investment management company’s stock worth $2,159,000 after purchasing an additional 114,706 shares during the period. Finally, Global Assets Advisory LLC acquired a new stake in shares of Eagle Point Credit during the first quarter worth $844,000. Institutional investors and hedge funds own 19.50% of the company’s stock.

Analysts Set New Price Targets

ECC has been the topic of a number of recent analyst reports. Zacks Research lowered Eagle Point Credit from a “hold” rating to a “strong sell” rating in a research report on Friday, September 12th. Alliance Global Partners initiated coverage on Eagle Point Credit in a research report on Thursday, September 18th. They set a “buy” rating and a $7.75 target price on the stock. Keefe, Bruyette & Woods cut their target price on Eagle Point Credit from $9.00 to $7.50 and set a “market perform” rating on the stock in a research report on Thursday, May 29th. Credit Suisse Group set a $7.50 target price on Eagle Point Credit in a research report on Thursday, May 29th. Finally, Industrial Alliance Securities set a $7.75 target price on Eagle Point Credit in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Eagle Point Credit has a consensus rating of “Moderate Buy” and an average target price of $8.21.

Eagle Point Credit Stock Up 0.4%

Shares of Eagle Point Credit stock opened at $6.61 on Friday. The stock has a 50-day moving average price of $7.00 and a 200 day moving average price of $7.46. The company has a market cap of $508.25 million, a P/E ratio of 60.05 and a beta of 0.38. 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 $6.00 and a 1 year high of $10.00.

Eagle Point Credit Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 10th will be paid a $0.14 dividend. The ex-dividend date of this dividend is Monday, November 10th. This represents a c) annualized dividend and a dividend yield of 25.4%. Eagle Point Credit’s payout ratio is presently 1,527.27%.

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.