Eagle Point Credit Company Inc. (NYSE:ECC) Given Consensus Rating of “Moderate Buy” by Analysts

Eagle Point Credit Company Inc. (NYSE:ECC) has been assigned an average rating of “Moderate Buy” from the six research firms that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, three have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $7.4583.

A number of brokerages have commented on ECC. Credit Suisse Group set a $7.00 target price on shares of Eagle Point Credit in a report on Thursday, November 20th. B. Riley Financial reduced their price objective on Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Finally, Zacks Research raised Eagle Point Credit from a “strong sell” rating to a “hold” rating in a report on Tuesday, December 16th.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. GPS Wealth Strategies Group LLC bought a new position in shares of Eagle Point Credit during the second quarter worth $25,000. IFP Advisors Inc purchased a new stake in Eagle Point Credit in the 2nd quarter worth $28,000. Geneos Wealth Management Inc. bought a new position in shares of Eagle Point Credit during the 2nd quarter valued at about $33,000. Ameriflex Group Inc. purchased a new position in shares of Eagle Point Credit during the third quarter valued at about $33,000. Finally, N.E.W. Advisory Services LLC grew its position in shares of Eagle Point Credit by 100.0% during the fourth quarter. N.E.W. Advisory Services LLC now owns 5,300 shares of the investment management company’s stock valued at $31,000 after purchasing an additional 2,650 shares in the last quarter. 19.50% of the stock is currently owned by institutional investors.

Eagle Point Credit Stock Down 5.8%

Eagle Point Credit stock opened at $4.48 on Friday. Eagle Point Credit has a 52-week low of $4.45 and a 52-week high of $8.86. The company has a market cap of $565.33 million, a P/E ratio of 23.55 and a beta of 0.28. The business has a 50-day simple moving average of $5.58 and a two-hundred day simple moving average of $6.22.

About Eagle Point Credit

Eagle Point Credit Company is a closed-end, non-diversified management investment company that seeks to generate attractive risk-adjusted returns primarily through investments in collateralized loan obligations (CLOs) and related structured credit instruments. The firm is externally managed by Eagle Point Credit Management, LLC, a specialized credit asset manager focused on the structured credit markets. Eagle Point Credit Company’s shares trade on the New York Stock Exchange under the ticker symbol ECC.

The company’s investment strategy centers on acquiring both equity and debt tranches of actively managed CLOs alongside opportunistic positions in senior secured loans, high-yield bonds and credit derivatives.