Eagle Point Credit (NYSE:ECC) Stock Rating Lowered by LADENBURG THALM/SH SH

Eagle Point Credit (NYSE:ECC) was downgraded by research analysts at LADENBURG THALM/SH SH from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat reports.

A number of other research analysts have also recently commented on the stock. Zacks Research upgraded shares of Eagle Point Credit from a “strong sell” rating to a “hold” rating in a research note on Tuesday, December 16th. Credit Suisse Group set a $5.00 target price on Eagle Point Credit in a report on Wednesday, February 18th. Finally, B. Riley Financial cut their target price on Eagle Point Credit from $10.00 to $7.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.13.

Eagle Point Credit Price Performance

ECC opened at $4.05 on Monday. The company has a market capitalization of $511.64 million, a P/E ratio of 21.32 and a beta of 0.32. The firm’s fifty day moving average price is $5.18 and its two-hundred day moving average price is $5.99. Eagle Point Credit has a fifty-two week low of $3.85 and a fifty-two week high of $8.86.

Hedge Funds Weigh In On Eagle Point Credit

Institutional investors have recently bought and sold shares of the business. Jane Street Group LLC acquired a new position in Eagle Point Credit in the first quarter worth $134,000. GPS Wealth Strategies Group LLC bought a new position in shares of Eagle Point Credit in the second quarter valued at about $25,000. Creative Planning acquired a new position in Eagle Point Credit during the 2nd quarter worth about $96,000. Cetera Investment Advisers grew its holdings in Eagle Point Credit by 84.6% during the 2nd quarter. Cetera Investment Advisers now owns 130,627 shares of the investment management company’s stock worth $1,001,000 after acquiring an additional 59,881 shares during the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in Eagle Point Credit by 10.6% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 294,869 shares of the investment management company’s stock worth $2,259,000 after acquiring an additional 28,354 shares during the last quarter. Institutional investors own 19.50% of the company’s stock.

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.