Eagle Point Income (NYSE:EIC) Shares Down 0.5% – Time to Sell?

Eagle Point Income Company Inc. (NYSE:EIC) fell 0.5% on Monday . The company traded as low as $11.24 and last traded at $11.3050. 203,041 shares were traded during trading, an increase of 9% from the average session volume of 185,671 shares. The stock had previously closed at $11.36.

Analyst Ratings Changes

Several analysts recently commented on the company. B. Riley dropped their price objective on Eagle Point Income from $15.00 to $14.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Zacks Research downgraded Eagle Point Income from a “hold” rating to a “strong sell” rating in a report on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.00.

Eagle Point Income Price Performance

The firm’s 50-day moving average is $11.62 and its 200 day moving average is $12.63.

Eagle Point Income (NYSE:EIC) last released its earnings results on Thursday, November 13th. The company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03.

Eagle Point Income Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 11th will be issued a $0.11 dividend. This represents a c) annualized dividend and a dividend yield of 11.7%. The ex-dividend date of this dividend is Wednesday, March 11th.

Institutional Investors Weigh In On Eagle Point Income

Several hedge funds have recently bought and sold shares of EIC. AdvisorNet Financial Inc lifted its position in shares of Eagle Point Income by 97.4% in the second quarter. AdvisorNet Financial Inc now owns 3,322 shares of the company’s stock valued at $45,000 after buying an additional 1,639 shares during the last quarter. Friedenthal Financial acquired a new position in shares of Eagle Point Income in the second quarter valued at $79,000. Advisory Services Network LLC acquired a new position in shares of Eagle Point Income in the third quarter valued at $89,000. Astoria Portfolio Advisors LLC. bought a new position in shares of Eagle Point Income in the third quarter valued at about $131,000. Finally, Cetera Investment Advisers lifted its stake in shares of Eagle Point Income by 17.8% during the 2nd quarter. Cetera Investment Advisers now owns 14,369 shares of the company’s stock worth $196,000 after buying an additional 2,170 shares during the last quarter.

Eagle Point Income Company Profile

Eagle Point Income Company (NYSE: EIC) is a closed-end management investment company that primarily invests in the equity and junior debt tranches of collateralized loan obligations (CLOs). Launched in 2019 and domiciled in Maryland, the company seeks to provide shareholders with high current income and the potential for capital appreciation by focusing on structured credit opportunities. Eagle Point Income maintains a diversified portfolio of CLO equity positions, targeting both seasoned and newly issued transactions across multiple risk profiles.

The company’s investment strategy centers on identifying mispriced or underfollowed CLO tranches, where it believes its team’s deep industry expertise can add value.