Farther Finance Advisors LLC Acquires New Stake in Eagle Point Credit Company Inc. $ECC

Farther Finance Advisors LLC acquired a new stake in Eagle Point Credit Company Inc. (NYSE:ECC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 4,525 shares of the investment management company’s stock, valued at approximately $35,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ECC. Wedbush Securities Inc. raised its holdings in shares of Eagle Point Credit by 31.3% in the 1st 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 raised its holdings in shares of Eagle Point Credit by 57.9% in the 1st 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 holdings in shares of Eagle Point Credit by 61.3% in the 1st quarter. Money Concepts Capital Corp now owns 308,196 shares of the investment management company’s stock valued at $2,496,000 after buying an additional 117,157 shares during the period. J.W. Cole Advisors Inc. raised its holdings in shares of Eagle Point Credit by 75.6% in the 1st quarter. J.W. Cole Advisors Inc. now owns 266,515 shares of the investment management company’s stock valued at $2,159,000 after buying an additional 114,706 shares during the period. Finally, Global Assets Advisory LLC purchased a new stake in shares of Eagle Point Credit in the 1st quarter valued at $844,000. Hedge funds and other institutional investors own 19.50% of the company’s stock.

Eagle Point Credit Stock Down 0.5%

Shares of NYSE ECC opened at $6.75 on Wednesday. The stock has a market cap of $519.03 million, a PE ratio of 61.32 and a beta of 0.39. The company has a quick ratio of 2.23, a current ratio of 2.23 and a debt-to-equity ratio of 0.32. Eagle Point Credit Company Inc. has a 52-week low of $6.00 and a 52-week high of $10.00. The business has a 50-day moving average price of $6.93 and a 200 day moving average price of $7.39.

Eagle Point Credit Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 28th. Shareholders of record on Monday, November 10th will be given a dividend of $0.14 per share. This represents a c) dividend on an annualized basis and a yield of 24.9%. The ex-dividend date of this dividend is Monday, November 10th. Eagle Point Credit’s dividend payout ratio (DPR) is presently 1,527.27%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. LADENBURG THALM/SH SH upgraded Eagle Point Credit to a “strong-buy” rating in a report on Wednesday, August 13th. Alliance Global Partners assumed coverage on Eagle Point Credit in a report on Thursday, September 18th. They set a “buy” rating and a $7.75 price target on the stock. Craig Hallum assumed coverage on Eagle Point Credit in a report on Thursday, September 18th. They set a “buy” rating and a $7.75 price target on the stock. Zacks Research downgraded Eagle Point Credit from a “hold” rating to a “strong sell” rating in a report on Friday, September 12th. Finally, Industrial Alliance Securities set a $7.75 price target on Eagle Point Credit in a report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $8.21.

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.